We know the concept of sustainable schools in third world countries seems a little hard to believe. And the fact that Edify would make loans instead of giving grants might be a little baffling to some. But let us explain!
It is all about empowering the local people and the overall impact on education.
There is a common misconception that in order to help the underprivileged you have to give them financial grants. It is simply not true! Edify believes that coming along side of these entrepreneurs and extending them loans, not gifts, is the best way to empower the local people. When a loan is repaid, we are then able to extend it to another entrepreneur, and another, and so forth. Ultimately, the loan has had an exponential impact far greater than a one-time handout would have ever had.
So here is how Edify’s model works…
From individuals like you, we receive the funding to extend to our partners in the field. Our partners, who are already in the loan-making business, identify the entrepreneurs and place them through a vetting process to see if they meet the criteria for an Edify loan. When approved, a loan is extended to the entrepreneur to expand or improve their school. From the income the school brings in from students’ tuition, the entrepreneur is able to repay the loan. From there the loan is recycled and loaned back out to another entrepreneur. It works! It is sustainable! And it is changing the face of private education in places like the Dominican Republic, Ghana, and Rwanda.
If you want to be a part of this transformational process, we would like to invite you to join us.