Niels Lund is traveling to Cambodia Jan. 24- Feb. 20 throughMicroloans For Mothers (MfM) which provides small loans to low-income mothers in Cambodia, enabling them to start a simple business that can generate extra income for their families.
Lund is the director of the non profit and has assisted mothers for the past three years.
According to Lund, "Women receive an initial small loan to start or improve upon a home business. The loan is paid back over a six-month period, after which the mother can apply for a larger loan. To date 94% of the loans issued have been repaid. Mothers are organized in "loan groups" that meet weekly for business training, fellowship, payment of loan installments, and deposits to their individual savings accounts."
The program started in 2010 with five mothers, and has now served 109 clients with 143 loans, with loan principal of $17,850 having been issued. By helping mothers with capital to start their own businesses, the MfM program enables low-income women to take a proactive role in creating a more promising future for themselves and their families.
Lund will be travelling to Cambodia on his own dime. He told Patch he minimizes expenses by staying with the family of his staff member.
He will also be helping to improve sanitation by buidling latrines in the rural areas of Cambodia where are clients are located. To see photos of how he helps with this go to: http://archive.constantcontact.com/fs168/1102546453068/archive/1116173383626.html )
While there, Lund will also be working on forming a partnership between the Encinitas Rotary Club and a Rotary Club in Cambodia to bring ceramic water filters to poor families.
"Much of our support and funding comes through the Encinitas Rotary Club, of which I’m a member, and Rotary District 5340. I visit Rotary clubs in Cambodia in efforts to plan cooperative projects," added Lund.
For more information on his non profit go to: http://www.microloansformothers.org/