Iraq Homes – Providing Shelter For The Needy
How did Extended Family International (EFI) begin?
The idea to start this micro-financing organization came from a trip I took in 2008 to a local village in Northern Iraq. As I was visiting my friend and his family, we went for a walk around the village. I could not help but notice numerous half-built, unfinished houses. My friend explained to me that many people cannot take out a loan to build a home, so they build the home little by little as they get the money to do so. This process can take up to 10 years. In the mean time, their family has to stay in their existing home, which is often inadequate, or they must live with other family members in their home. I couldn’t help but wonder if there were a way for the home owners to borrow the money upfront, build their home and live in it while repaying the loan. This is where the idea for creating EFI was formed.
What is the problem?
As I continued to explore this idea further, I found there were several reasons that a person could not take out a loan to build their home in this particular area of the world:
- There were simply no loans offered in the area.
- If loans were offered, the home owner did not qualify for the loan.
- The interest rates on these loans were entirely too high.
- The home owner’s religion prohibited them from taking out a loan with interest. (In Islam, it is forbidden to take out a loan where interest must be repaid – but a no-interest loan is completely acceptable.)
The solution we came up with was the establishment of EFI. Our mission is to improve the lives of families residing in substandard housing around the world. We no-interest micro loans to those in need in an effort to enable them to obtain adequate shelter.
How does EFI work?
The concept is simple. Individuals such as yourself donate money to EFI. That money is sent directly to a family in need of a home loan. When that family begins to repay their loan, the money is cycled into a new home loan that EFI will give to another family in need. As they repay their loan, the money is again given to another family in the form of a home loan. In essence, the original donation does not only affect the lives of the first family that received a loan, but it is able to impact the lives of countless other families as the funds are recycled over time.
How can you join the family?
Consider partnering with us today and become a member of our Extended Family. Please browse the remaining pages of this Web site to learn more about our organization and the families we are helping. Information on how to donate time and money can be found under both the “Get Involved” and the “Donate” tab at the top of this page. Thank you for your time and consideration. We look forward to working with you!
EFI was granted a 501(c)(3), tax-exempt status by the IRS in August 2009. This is just one of the many milestones EFI has reached since the group was conceptualized at the end of 2008. We became registered as a nonprofit organization in January 2009. Click here to view documentation of our nonprofit registration and our tax-exempt status. We would like to sincerely thank everyone who has helped our organization navigate this journey thus far and are looking forward to the road ahead.