THE GREAT EXCHANGE MICROFINANCE
Although they have more than 49,000 borrowers, GEM is small in the world of Indian microfinance. Despite their size, they are looking to have a big impact. GEM is seeking to create a new, biblical-truth-based microfinance model that is:
Self-sustaining through its business operations
Cultivating wholistic transformation among its clients
Reaching the poorest of the poor
In order to do this, we are reflecting on several key questions:
“Beyond repayment rate and total loans, what other measures of success should we be using?”
“How do we bring biblical truth to those receiving loans?”
“What does true transformation look like in this context?”
Respect of a Nation
The director of GEM was recently invited to be on a compliance committee that oversees all MFIs in India. Given that GEM is one of the smallest MFIs in the country, this is a true mark of God’s favor and a testament that GEM is known for its integrity. Many are watching to see if GEM’s work will be sustainable and effective. We are excited to see what God does through this work!
GEM is looking at new ways of doing business and also introducing new products. Pray for God’s blessing on this effort.
The team is re-visiting the training model to make it more efficient and measurable. Pray for wisdom and knowledge in this area.
GEM is seeking funds through investors, which are hard to come by. Please keep this in prayer.
GEM is committed to operate with godly values in the midst of corruption and upheaval in the financial industry. Pray especially for GEM’s leadership, that they would remain steadfast under pressure and not compromise with the world in any manner.