A unique aspect of the PSHF is the allocation of projects to individual donors. How does this work?
The process begins with an individual expressing an interest in supporting the PSHF loan assistance programme. Richard, being the liaison person, will usually be the one to advise that person on the kind of projects that are available for funding. At any given time, there are a dozen or so project proposals that have been approved but not yet allocated to individual supporters.
A person then makes a donation and an account is opened in their name. All donations are converted into Philippine pesos at the prevailing exchange rate at the end of the month. 10% of the donation will be deducted at source to help defray PSHF general fund expenses and the balance will be credited to the donor's account.
The donor, or as we like to call them, the sponsor, will then receive, by post or by email if requested, the details of the project which has been funded in their name. The envelope will contain the following:
- A one page project proposal which explains the rationale for the loan, the background of the recipient's family and their life story.
- A photo of the loan recipient with members of his or her family.
- A statement of account. This will indicate the general fund deduction, the project name, description, ref. number, amount as well as the balance available for further projects in due course.
Loans are usually repayable monthly, over a one year period. When the monthly repayment report comes in, Richard opens up the sponsor database and credits the repayments to the respective sponsor accounts. By so doing, the balance available for disbursement is increased, enabling the sponsor's funds to be re-cycled to other project loans.
For more information please Contact Us.