In response to the dire needs among our global partners and the materially poor families they serve through their microfinance, education, and youth empowerment programs, the PEER Servants Board of Directors announced its Coronavirus Response Strategy.
The Board has established a Coronavirus Response Fund (CRF) that will stand with our global partners in three critical areas:
- Humanitarian Outreach: The families served by our global partners have no or very limited means of earning an income given local lockdowns. PEER Servants will provide funds to our global partners to offer food and clean water to these families.
- Payroll Protection: The micro-loans made to these families are now no longer generating business income – they are being used to allow the families to survive. This means there is and will be very limited loan repayment along with the interest income on which our global partners rely to pay their staff a modest income. Reduced incomes and even staff layoffs are already taking place. PEER Servants will provide payroll protection funds to help partners pay and retain staff.
- Portfolio Protection: The loan portfolios of our global partners will take a big hit from this global pandemic, affecting not only the short-term but the better days ahead in the long-term. PEER Servants will provide funds to help to guarantee the loans of the best-paying clients to allow our global partners to maintain a larger portion of their loan portfolios.
To provide these funds, the Board is committing 100% of “Where Most Needed” donations to the CRF through June 30, 2020. In addition, all funds raised through the June 6 Virtual Walk for Economic Empowerment will go to the CRF.
For more information on the Board’s decision, please see the Second Quarter 2020 Newsletter. To give to the Coronavirus Response Fund, please click on “Donate” above (or click here) and choose “Where Most Needed” by June 30, 2020.
Thank you for standing with PEER Servants, our global partners, and the over 200,000 materially poor families during these unprecedented days to extend more of the kingdom of heaven to earth.