By Elizabeth Adlung
The Midday Rotary Club has a new partner and a new mission: Microfinance!
The Midday Rotary Club and Apoyo Para Gente Emprendedora AC (Apoyo) will expand the microfinance program of Apoyo by increasing the funds for lending.
The Educational Micro-Lending Program is the core program of Apoyo. In the past decade, EMLP has helped over 300 individuals and cooperatives start their own income-generating enterprises by awarding no-interest micro-loans averaging 7,000 pesos (US$350).
EMLP, in contrast with most micro-lenders, requires all applicants to attend its workshops in order to be eligible for a loan. This requirement lets Apoyo become better acquainted with the entrepreneurs and their projects before granting a loan; and it improves the applicants’ odds of running a successful business once the loan is awarded. Loan recipients stay in close communication with Apoyo through its mentoring program.
The track record of Apoyo is impeccable. Well over 90 percent of loans are repaid completely within a year, thereby creating a revolving fund for continuing loan resources.
Ezequiel Mojica founded Apoyo 16 years ago to help educate individuals who lack education to succeed in their lives outside of their local communities. He has built a very successful organization that has been recognized locally for its many accomplishments. He was also recognized by the Midday Rotary Club as Citizen of the Year. His vision and dedication have helped individuals and families to raise themselves out of poverty and earn sustainable incomes. (See www.apoyo.mx for more information)
Norman R. Feldstein, D.M.D., is a retired dentist and dental educator from Pittsburgh, Pennsylvania. He is a member of the Midday Rotary Club since 2015. He is excited to have the opportunity to work with Ezequiel and Apoyo to develop this micro finance project.
Join us this Tuesday, February 8, at 9:30am to welcome Mojica and Feldstein and learn about Microfinance. To attend, go to the Midday Rotary Club website at www.rotarysmamidday.org and sign up. You’ll receive an email with instructions on being a part of this week’s meeting. Note: Meetings at Hotel Real de las Minas follow Covid protocols. Rotary is where neighbors, friends and problem-solvers share ideas, join leaders, and take action to create lasting change. For more information, contact President Skip Essick at skipessickmedia@gmail.com.
Rotary Presentation
“Micro Finance in San Miguel de Allende, Past, Present, and Future”
Tue, Feb 8, 9:30am
Zoom or Hotel Real de las Minas
Ancha de San Antonio 1, Centro
Free
