Monday, October 12, 2009

Economic Development Word of the Day

grubstake (grŭb'stāk') verb. - to provide with material assistance (as a loan) for launching an enterprise or for a person in difficult circumstances.

Linda's parents agreed to grubstake her small water business, providing sufficient funds to get it up and running.

World Relief Microfinance Stats Update

Here are the latest statistics for the World Relief Microfinance Network as of June 30, 2009. The network currently boasts over 205,000 active clients with a gross loan portfolio of close to $45mil USD and overall operational self-sufficiency of 103%! Praise God as we continue to move forward in serving the poor through sustainable microfinance.