Inspired by Grameen Bank

We were first introduced to the concept of microcredit from reading the book Banker to the Poor by Nobel Peace Prize winner Muhammad Yunus. This man founded the Grameen Bank in Bangladesh over 30 years ago. Since then the bank has loaned hundreds of millions of dollars to the absolute poor and has helped them make a real life for themselves.

Teaching money management

It is important to understand that this does not promote debt. These loans are very small (less than $50.00) and the borrower has one year to pay it back making a small, easy-to-make payment every week. The purpose is to help the borrower learn how to save and manage money properly. It also instills a feeling of accomplishment and gives the borrower a very strong devotion and commitment to their business because it was not just given to them for free.

It has been just under a year so far and already lives are being impacted by this project. It is a great blessing to see people’s lives being improved.

Forgoston International Ministries Inc. is a separate entity from the Jeevan Bank. FIM does not actually make any loans or receive any pay back. All monies given from FIM to the Jeevan Bank project are given freely for the purpose of expanding the project and increasing the number of loans being given. As the loans are paid back they cycle into the hands of more borrowers.