“The Community Empowerment Fund International” (FAC in Spanish)
FAC is the first grassroots micro-enterprise program in Central America’s largest urban slum, La Limonada. This program is grounded in the idea of providing people with a “hand up” rather than a “hand out” and we are grateful for an opportunity to do just that.
FAC takes a holistic approach to empower the residents of La Limonada and works with families to build assets, start and expand small businesses, and essentially invest in people’s inherent potential.
History
A joint venture of Lemonade International and CMI (the Carolina Microfinance Initiative group at the University of North Carolina at Chapel Hill), FAC was established in the summer of 2010 by leveraging our community relationships and partnerships, and UNC student resources and skills.
This plan is ambitious and historic. Until this there had not been a quality micro-enterprise program in La Limonada. All MFI organizations we contacted previously were not willing to work in the community, as it is considered a “red zone” (too risky for them to provide loans to borrowers).
Current Status
We are keenly aware of the challenging nature of this work and are learning much through this process, as well as from the strength and resolve of the people of La Limonada. FAC is currently serving and empowering nine women from two borrowing groups and has seen borrower income and savings increase by up to 75 and 400 percent respectively – all with a 100% loan repayment rate. Plans in the near future include several additional borrowing/savings groups.
We believe this program has great potential for truly empowering the people of the community and instilling in them a sense of dignity and an understanding of the value they have as God’s children.
We are now moving beyond the pilot program phase of this Micro-enterprise program and we are seeking donors to fund the expansion of the program. Please consider a donation to support our loan officer’s salary ($300 per month) by going to our Donation Page and selecting “Micro-Enterprise” from the “fund” drop-down menu, or consider investing in the Entrepreneur of your Chose on the FAC website.
If you would like more information contact Bill Cummings.
