Curious How It All Works?

Below are some of the most common questions we are asked about our organization. Click on the questions reveal the answer. If you don’t find your answer here, don’t hestitate to contact us.

Curious How It All Works?

Below are some of the most common questions we are asked about our organization. Click on the questions reveal the answer. If you don’t find your answer here, don’t hestitate to contact us.

Why micro loans?

They hit at the core reasons for poverty: lack of regular income, regular food supply, and lack of educational opportunity. Micro loans create sustainable incomes. They work! An independent study reports that 10,000 people a month are being pulled out of poverty through micro loans. Worldwide, they are repaid at a rate of 98%, and loaned out again and again; they are, in essence, reusable and efficient capital. Micro loans are a hand up, not a hand out; they give the poor dignity and choice and provide a means to a sustainable income.

Why are micro-entrepreneurs not ideal clients for traditional banks?

In the eyes of traditional bankers, these micro-entrepreneurs are far from ideal clients: Their loans are too small to justify the time and expense needed to administer them, and they lack the collateral, steady employment and credit history required by traditional lenders.

Who are we?

The Greater Contribution Corporation is a 501(c)3 non-profit organization founded in Thousand Oaks, CA in 2006 by four women seeking to make a “greater contribution” to the world. It works to raise funds to fight poverty and raise awareness of the issues relating to poor people worldwide. We support humanitarian agencies that are already established and operating programs that are consistent with our goals. Our president and members of our board of directors are all volunteers.

Where does The Greater Contribution provide services?

The Greater Contribution funds micro loans in Uganda.

What other services are provided to borrowers?

We work closely with our clients to help them build their businesses so they can earn more, become part of the larger marketplace. In addition to providing the with working capital, we train them in good business practices, business management, accounting, budgeting and, most importantly, savings practices to help them weather crises such as illnesses or deaths in the family, or natural disasters.

What is a micro loan?

Very small loans ($50-$300) that help poor women start a small business to create a sustainable income. Salaries or wage paying jobs are scarce in many developing countries. Up to 80% of such populations derive their incomes from self-employment. To survive, they must create their own jobs by starting tiny businesses or micro-enterprises. However, in many instances entrepreneurs lack the capital to initiate or grow their businesses. Micro credit loans can provide that money. These loans are used to start a business or “micro-enterprise” to support their families’ basic needs. These “micro-entrepreneurs” make food, sew clothes, raise and sell cattle, and sell vegetables and fruit in the street or local marketplace—anything to put food on the table.

What are the benefits of micro loans?

Women borrowers of micro loans have reported that money from their increased earnings is used first for improving their children’s nutrition, health and education, and then for home improvements. In addition, when women begin creating a sustainable income and increase the standard of living for the family, their status in the family increases. They are no longer abused or regarded as second-class citizens and gain much more respect from their husbands.

How many loans can be made with a donation?

On average, each donation results in two to three loans within the first year. Each borrower repays the loan within four to six months. Each loan provides start-up capital that supports a family that averages five people.

How does the program work?

Neighbors come together in financial support groups called loan groups. Individuals borrow start-up or working capital for their micro-enterprises.Because they have little to offer for collateral, the group guarantees those loans.

How do you send donations to Africa?

Our donations go directly to our partners on the ground who administer our loans. The funds are transferred safely and securely, and there are no governmental agencies involved.

Give a Micro Loan. It’s the Gift That Keeps on Giving.