How does the MICRO FORWARDS model work ?
(1) Givers League partnerships
1.1 Givers League (GL) will partner with individuals, societies, organizations, churches, or any other parties across the globe who are truly committed to helping financially challenged individuals and families to become self reliant. Such parties are most welcome to contact GL on their own too and express their interest to be involved. Once selected, such an organization or society then known as a Givers League Cell (GL Cell) will sign a MOU (Memorandum of Understanding) with Givers League where both parties agree to the required procedures and conditions.
1.2 Selection of above individuals, groups or institutions will be based on the following:
(a) Their capability to recommend deserving responsible people to qualify for GL’s micro forwards
(b) Their credentials, references, past relevant experience or anything else that would well support their selection.
1.3 Each GL Cell will be managed by a “GL Cell Leader “ who would be the main contact of GL for that GL Cell. The Cell Leader can have others helping him or her, and they will be referred to as GL Cell Helpers. Any number of GL Cells can be there in one country, state or district.
(2) Micro Forward Operations
2.1 Each Givers League Cell will identify potential micro forward receivers based on information they know about these individuals – these individuals have to be people who would take the responsibility to put the funds received into best use, either to start or expand their humble little business ventures, or to meet vocational training costs leading to obtaining employment.
2.2 For each Micro Forward request, the Micro Forward (MF) Application that is available in the parent website (www.giversleague.org) needs to be used. The MF amounts average around $150 in the respective country currency and will not exceed $300.
2.3 The GL Cell Leader’s recommendation and endorsement are required on the MF application.
2.4 The Cell leader will send the completed MF applications to GL Admin through email or regular mail, and those meeting the qualifying criteria will be approved, and funds will be disbursed to the respective Cell accordingly.
2.5 Each Cell needs to open a brand new bank account under their entity name. How to operate the account will be discussed with each Cell Leader on an individual basis according to how it could be arranged per respective bank policies.
2.6 The Cell needs to maintain simple user friendly accounts or logs for all micro forward receivers showing the disbursement of the micro forward, and the monthly “give backs” received from the 4th month onwards. Further, a Cell cash account managed by the Cell Leader would show the overall activity and the balance as at any given time. Document handling help will be provided by GL Admin where necessary.
2.7 The Cell does not send back to GL Admin the “give backs” collected, instead is required to keep such funds in the Cell bank account to be used for future MF requests that come from that same village or community.
2.8 For future MF requests approved, the Cell is required to use the ‘give backs’ already collected that’s in the Cell account plus the topping up funds that GL Admin would send in order to reach the required fund need.
2.9 After 3 months of using the MF, MF receivers have to start giving back from the 4th month onwards 1/24th of the principal amount they received and finish settling the full amount received in 24 months. The MF receiver does not have to bear any interest cost or funding cost, but has to simply give back the principal amount in 1/24th sized small installments.
2.10 GL makes a kind request to Cell Helpers and Cell Leaders to encourage MF receivers to continue to be givers of whatever very small amount possible even after they finish giving the total principal amount they received, so that such collections would further help fund more and more MF requests coming from their own villages and towns.