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+ New DVD about Peru is available for you + Microfinance/microlending is getting organized in Peru. DVD about Peru The new DVD showing the partnership between Horizons Foundation, and Go Ye Ministries in Pacasmayo Peru produced by Kelly Kerr and his wife Christine Kerr of KKInteractive Inc. is now available. It is an eight minute video that shows what it's like to live in Pacasmayo and some of the dreams of the local population. Please send us an e-mail, and we will be glad to send you a copy of this excellent DVD. We will be pursuing the possibility of streaming this video from our web site during the next few weeks. Kelly and Chris were in Pacasmayo in January of this year, and absolutely captured the essence of some of the work in this short film. Organizing Microfinance in Peru While we’re awaiting licensure for the new orphanage in Pacasmayo, Peru, we have begun the work to make that orphanage financially self-sufficient and eventually eliminate the need for financial support by anyone outside its local community. During January, Horizons Foundation started a new charitable organization named Association Horizons in Peru. Association Horizons has been initiated to become the microfinance/microlending arm of Horizons Foundation in Peru. Since mid-January, this new entity has had two Board of Directors meetings. This Board of Directors is comprised of local business leaders in the Pacasmayo area. The first meeting included the election of officers and the Executive Director was selected. We are thrilled with the response from the local business community and their support of this new effort in their city. One of the key decisions the board of directors have been grappling with is related to the amount of interest that will be charged potential borrowers. Every country has a common interest rate that is charged by most banks for collateralized loans. Additionally, every country has a rate of interest that is charged by the "money lenders on the street" which is substantially higher than the rate charged by the banks. This rate to be charged the incoming borrowers of Association Horizons is extremely important, because that rate must be low enough to attract borrowers. But, at the same time, be high enough to generate enough income to support the micro finance staff. In Peru, there is a 12 step process to properly create a charitable organization. During February, the first of these 12 steps was completed. We are anticipating being able to begin actually loaning funds to incoming borrowers within 60 days. We have encountered a steep learning curve in the last 45 days, as our excellent Executive Director in Peru speaks only Spanish, and we speak only English. We have acquired translation software, which helps us communicate. However, this software helps us understand about 90% of what we are told. Also during the last 45 days, we have acquired the Dragon Naturally Speaking, Version 8 .0 software. This will enable us to have a quicker communication to Peru and all of all our e-mails as time goes by. Al is still a novice in using this software, but is gaining ability. This newsletter is being dictated into the computer using Al's voice as the initial method of communication to the computer. So it's taking Al a little time to become accustomed to dictating into the microphone attached to the computer. When you get a chance, please check us out at www.HorizonsFoundation.com - a foundation where 100% of all contributions go straight to the project; no deductions for overhead. In His Service, Al & Charlotte Lockhart Al Lockhart Past Newsletters: 30 November 2003 31 December 2003 01 January 2004 01 February 2004 01 March 2004 01 April 2004 31 May 2004 30 June 2004 01 July 2004 01 August 2004 30 September 2004 31 October 2004 30 November 2004 31 December 2004 31 January 2005 28 February 2005 31 March 2005 02 May 2005 02 July 2005 31 August 2005 11 October 2005 18 December 2005 02 April 2006 30 June 2006 31 October 2006 |
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