Our Economic Development program focuses on micro enterprise loans, averaging about $280 each. We have about 5,000 loans outstanding at any given time. All are for entrepreneurial activities... simply to make money. We do not make loans for housing, education, healthcare, etc.
We organize small community "banks" or clubs with about 15 members in a club. Each one promises to pay us back and also to pay us for any other member that defaults. We run about a 98% payback.
Since our beginnings in 1995, we have made over 80,000 Rainbow Network small business loans, while teaching families how to run a small business.