Poverty2Prosperity.org

P2P 2024 End of Year Progress Update:
It's time for an update as we have a lot of really great news and things are going very well for us and our zero percent loan-making mission.

1. The best news is that while we had been extremely cautious during the pandemic years going all the way down to pausing our lending to avoid a surge of defaults, we have returned to an 'aggressive' lending stance. 100% of all repayments in any given month are being lent back out in the very next month plus donations. While our repayment rate fell from 99% to 98.45% during the major COVID years, we feel we did a great job protecting your assets with which you've entrusted us. Better news is that our repayment rate has now been rising again and we are back to 98.97% (that includes ALL years from 2008-2024 - 50,000+ loans) so we have been above 99% over the last two years.

2. We had planned not to add any new lending funds in 2024, but opportunities came up for us that were pleasantly unexpected! Dr. Haresh Mirani, who immigrated to the US (Tennessee) from India, wanted to help those in poverty in his home country so he made a founding donation to set up the India Fund which is the very first country specific fund at P2P. A generous donor in the SF Bay Area noticed this new fund and contacted us about making a founding donation at the end of 2024 to establish the Southeast Asia Fund. Finally, we have been working with an outside group called, the Climate Pilots. This group's expertise is in finding borrowers whose businesses help to reduce climate change (e.g. solar pumps & lights, recycling collection services, regenerative agriculture, biomass stoves, biodigesters, seaweed farming). We held a successful Giving Tuesday fundraiser to establish this fund which is managed by the Climate Pilots group for us using our asset allocation protection guidelines. It's our first partnership with an outside group.

3. We received the highest possible rating, "Platinum Transparency", from Guidestar.org, the premier destination for nonprofit information and research.

4. Our robust high school internship program is thriving! We are currently mentoring four high school students empowering them to make real-life fund management decisions. Under our guidance, they learn the tools we use to vet borrowers and decide who receives funding. They are doing real financial management work for us. Some have gone on to do advanced data analysis of our in-country field partners allowing us to expand our lending program to additional borrowers. The result of their research is that we now place a much lower emphasis on delinquent loan rates. Just about all of our delinquent loans still repay, so we consider this just an adjustment to the loan length terms which is fine with us and opens up future loans to areas with longer loan length terms. A repaid loan is a success, delinquent or not! You can see our recent Intern Feature article about Devika Mathur from Nueva High School here: https://poverty2prosperity.org/news.html

We'd like to start more regional or country-specific funds and we'd really truly love to start a fund for repeat borrowers. These are borrowers who have proven they know how to work with a loan to further their business, begin hiring additional employees, and lift themselves and others out of poverty. They are hard-working! They are reliable! They are trustworthy! They are deserving!

Thanks for your time and your support!
https://Poverty2Prosperity.org

Poverty2Prosperity.org Poverty2Prosperty.org - zero percent interest loans to the working poor.

I've (Scott, P2P Founder) been complaining over the last year that Google search results are FULL of sponsored ads, but didn't do anything about it. Yesterday, I switched to Bing for my searches and the nice part is my searches are earning money for the P2P Climate Fund now! We receive monthly payments from all the people who have selected to donate their Microsoft Rewards to P2P (choose Poverty 2 Prosperity, Inc.):
https://rewards.bing.com/