As many of you know, we’ve been waiting to hear news about a possible loan for the Genesis Spinning Co-op, for the $300,000 they need to purchase machinery and get their co-op to work. The institution considering the loan is not big – they’ve never before loaned more than $100,000 at one time. Not only do they have their own financial problems with the current economic situation, but they also have to worry about whether or not Genesis is a good investment – will Genesis be able to sell its yarn? Will any companies still be around to buy it when they finally get up and running? To make matters more scary, on the first day their Board of Directors sat down to discuss the loan, the free trade zone across the street from us announced its closure and the loss of another 800 jobs. With all these closures of big companies, how can little Genesis possibly survive?
We are also asking people to invest in our Shared Risk Investment Fund. In this economic climate, many people are finding that their social investments are a better investment, they’re still getting a return, while those invested in Wall Street have lost big time. We are asking people to loan for 5 years and you set your own interest rate 0-5%. Please put friends and family who can invest in contact with us -- To invest in the Shared Risk Investment Fund click here or email firstname.lastname@example.org.
Together, we can get this building built and fill it with that spinning machinery! As the inscription on the workers' statue in Managua (pictured above) says: Solo los obreros y los campesinos iran hasta el fin! Only the workers and the peasants will go until the end! Happy Workers Day!
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