Pak Ketut's Bank Loan
To be able to help a family we first need to really understand their struggles. However their trust has to be earned first. It always takes several visits before we are seen as trustworthy and until they open up to us and tell us their whole story. Like many other poor local families Pak Ketut ...
Clearing Ibu Komang's Bank Loan
Today we met with the heads of the Banjar (village leaders), local bank representatives and a very nervous Ibu Komang (please watch her story in our last post). The mission of the day was to pay back her $180 bank loan - which the family had to take out when struggling to survive during Covid. Bu...
Meeting Ibu Komang
Today we were asked if we could support a local family in Ungasan Bali with basic food supplies. Often when we visit a family for the first time we know very little about their situation. We don’t know yet what their problems are nor why they have difficulty providing for themselves. Ibu Komang...
Pak Ketut's Bank Loan
Like many other poor local families Pak Ketut was forced to take out a bank loan during Covid to feed his family and then a second loan when he had an accident at work and did not receive a salary for several weeks. The local bank loans seem to be a good option with an interest rate of only 1.75%, but unfortunately this rate is monthly and adds up to an insanely high interest rate of over 20% per year. Even though Pak Ketut makes payments to the bank whenever he has some money left over their two bank loans have now accumulated to over 50 million Rupiah and the sum continues to grow every month.
How can this family ever get back on to their feet and make their way out of poverty with such a big burden to carry? We have no idea how we are going to do this yet, but we committed today to clearing out their two bank loans and having them pay this money back to our foundation every month with ZERO interest.