News By Tag
News By Location
An Alternative to Microloans
Those within the Diaspora are offered micro loans by companies who wish to help. Those loans must be repaid and it takes longer for an individual and a community to build a business, save money, or elevate their status.
Contact: Rosanita Ratcliff
A New Alternative to Micro Loans
LOS ANGELES, Ca.---After a natural disaster capital is needed to rebuild. Many people are homeless, unemployed and without capital. In a developing country, a disaster is even more devastating. The livelihood of many is gone. While many organizations are eager to offer loans and micro loans, those must be repaid and it takes longer for an individual and a community to recover.
The Diaspora Development Fund was created to help combat that issue and the issue of poverty throughout the African Diaspora in general. Rosanita Ratcliff, developer of the Fund states, “We encourage micro-loans because loans are an integral part of any economic system. However, so are grants. In developing nations and in local communities, a grant of $100 can mean a world of difference. Supporting a family with a monthly stipend that does not have to be repaid helps get the economy moving again by immediately giving someone cash. They are able to buy food, land, start or re-start their business, buy uniforms and animals. We strongly encourage donations to local and international charities, but wanted to create another alternative. Our goal is to raise $50,000 this year.”
The Diaspora Development Fund will distribute money through local NGOs and non-profits based upon their recommendations and applications. Ms. Ratcliff is currently in talks with organizations to act as counsel and as a watch group to ensure the funds are spent on the people who need it most. The fund may be found at http://www.createafund.com/
If you would like more information about this topic, or to schedule an interview with Rosanita Ratcliff, please fax Rosanita Ratcliff at 818-337-2181 or email Rosanita at rratcliff@advocacy-