Providence Homes recently completed its fifth “Homes for HOPE” project, through a charity home built in the Greenleaf Village neighborhood of Nocatee.
The proceeds of $60,000 will be donated to Hope International, a global nonprofit that provides microloans to entrepreneurs in developing countries. Ultimately the $350,000 raised through the Providence’s five projects, built with the aid of local partners, will help thousands people and families with $100 to $500 micro-loans to start businesses to rebuild their lives.
“We’ve been involved with Hope International for many years now. It’s a powerful, faith-based group that is making huge strides in alleviating poverty by helping people build businesses to support themselves,” said Bill Cellar, CEO of Providence Homes.
More than 99 percent of all Hope loans are repaid. Most of the loan recipients are women with children who have been abandoned or widowed by war or devastation.
“A few hundred dollars is enough money to sell shoes or vegetables in an open market or purchase sheep or pigs for livestock,” added Cellar. “And with the high repayment rate, the $500 loaned to one person is available for another, and so on. That’s what makes this program so successful and worthy of support.”
To date, HOPE International has issued millions of dollars in micro-loans. Since getting involved in 2002, Providence Homes has raised over $350,000 for HOPE International with their five Homes for HOPE projects.