Providing opportunities to thrive and grow
Micro-lending is the mainstay of The Reckoning’s work. Rather than hand- outs, which only enable the cycle of poverty, we provide opportunities. It’s the opportunity to work, grow, invent and thrive that the poor are looking for. We provide the opportunity for them to take ownership of their own lives and to become self-supporting.
Starting your own business is difficult in any part of the world, and particularly so in areas where access to education is limited and difficult to obtain. Traditional banks will usually not work with the poor, the illiterate, and those with no collateral. Access to the capital needed to start a business is virtually non-existent.
Simple financial products
We lend one lump sum of money to a small group of entrepreneurs. Although individually they have different businesses and receive varied percentages of that sum, they are responsible as a group for the repayment of the loan.
This structure provides a great atmosphere of team work, creativity, encouragement, and accountability. Each member of the group has a vested interest in the success of the others in the group. If someone’s business is struggling, the other members have a financial incentive to help that venture succeed. Individual success is tied to the success of the others in the circle.