Relief Network Share Program

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Thank you for deciding to donate, or loan out money or resources to support our micro-credit program called Relief Shares. Use the "In-Kind Gift" link above to donate or loan out non-cash items, or real property. By this action, you bring tangible relief where it is needed most.

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RELIEF SHARE Program Model

Background
Born out the needs seen and known - it might very well be the best "Dorcas" & "Tent-making" ministry that anyone could help get started for the people they love and care about the most in any community. It should only be shared as a vision with positive, forward-looking, and serious minded people who can follow-through to begin making something happen.

Dear Friends / Brethren:
For a many years, the states of our social and economic condition have indeed been a big burden and an item of prayer for many of us who have experienced the challenges in Africa and the inner cities of USA.
Part of our Relief Network Ministry's goal has been in the area of relief and development to help build capacity in countries we serve, in particular - in West African Countries.

Indeed, it has bothered my mind to find a solution that will help break the cycle of poverty for our people.
I believe we've now found something that would work if followed correctly.
I'm including you in this email because we've either talked about helping you or people you know, work on economic aid in your area/village, or community of interest.

Now check out the Relief Network SHARE program that will soon be birth and operational in Sierra Leone, and Nigeria as pilot projects.

Micro-Credit Financing

We are likely going to operate a matched "Relief Network SHARE" program accounts in partnership with a local bank which will take part of the interest for administering the program.
If you can do a little research, approach a few community banks / Government Development bank and ask if they can operate a credit union type of account shares, we can get one going with your active role.

A: First - with a group of 10 to 50 people, form a local society branch for community development called "Relief Network SHARE". SHARE stands for Self-Help Association for a Regional Economy". Learn more about SHARE at: http://www.schumachersociety.org/share_microcredit.html
The more the number of members starting a local branch of the group, the better - but a minimum of 10 people is required to start a local SHARE group.

That means - anyone who wants a loan from the group or the RNM-SHARE, will be a member and do the following:
To Operate a SHARE program then - here's my proposed scheme / modification (still being refined to get the bugs out and make it reasonably fool-proof):

B: How it works:
1. Open an RNM-SHARE membership savings account at the bank to be selected with a certain minimum, say $50, that will make an annual interest of 6% for owner and 4% for the bank for administering / loaning out the funds, and 5% for Relief Network (to be able to continue to match other grants in the future for sustainability) - a total of 15% interest to be charged any borrower.

2. Surrender the bank account to your branch of the local RNM-SHARE society with a signed security waiver that in the event they default in their loan, the local society becomes the lien holder / uses that account for collateral

3. If they have more money to save in the future, they can still do so. If they need to withdraw money from account - they must give a notice to the local society in writing 90 to 120 days in advance, and cannot withdraw more than 50% of what is in their RNM-SHARE account.

4. For each $ deposited in the account when a depositor opens an account and becomes a SHARE member, RNM will then match that deposit up to a certain maximum, thereby giving the depositor a leverage of 2 times more funds than they have put in - i.e. you open account with $50, we deposit another $50 into your account giving you a balance of $100

5. If we have 50 members to start a local group, that means we have $5,000 USD capital to loan out to members. SHARE members will meet to agree on the first 10 to 20 whose business proposals have priority and better chances of doing well in the community, and returning some good profit for the members / their family and for the local SHARE society.
For example, the local Share can then loan out $500 to 5 people ($2,500), and another $200 to 10 people (i.e. $2000) - all repayable in a maximum of 24 months (2 years) with an annual interest of 15%. So we now have 15 people doing business and making money. As we get more depositors, and members, we can lend out more because everyone wins and we recycle the capital.

6. In the event that anyone defaults, and we lose say $500 given out to that one person for any reason whatsoever, all SHARE members bear the loss (which is the main risk in this savings program). To recover the $500, the bank will charge a debit of $10 to every depositor's account - i.e. if we had 50 member accounts, we get 50 x $10 back. If we have 100 member accounts, the bank charges 100 x $5 per account = $500 recovered. As a result, the more members we have in each local group, the lower the risk and the merrier.

7. For additional Security, the society may require that people pledge additional property they have on lien / as collateral - for example, a vehicle, house, land, valuable business equipment, etc. For anyone honest that needs access to credit - this is a model or system that can work anywhere... the Lord helping all of us / the members.

The above is a model of what we will share at our board meeting for approval. I am just giving you a heads up to help us begin to seek for banks in your country or community that might like to work with us and your community for such a wonderful community / capacity building scheme.
With prayers and the involvement of many well meaning Christians in your group, you can succeed with this, but do not make it exclusive to Christians only - allow honest people with good businesses they are already running, trade skills they already have, or what they know how to do to become a part of your local association / SHARE society.

We also have a number of basic solar emergency power and lighting technology being put together for 3rd World countries that we plan to introduce as business ideas to help interested qualified micro-entrepreneurs kick-off with these ideas and succeed in making a living for their families.
I will brief you more depending on the response from your end and the pre-work you do, to help us start RNM-SHARES societies in your community.
I look forward to your response - soon, and the interest of a local bank in your community to execute this program collaboratively with us!

Blessings for remembering to assist the poor and needy and not forgetting them (Psalm 9:18).

Dr. A. Sunny Okorie
(for RNM, Inc.)
www.relief-networks.org

Other ways to contact us may be found from our contact information at this site.

We appreciate your donations. All contributions are tax-deductible.

Tax ID is: 76-0678774

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