Investor Profile: Jim Topple
Jim Topple
Jim Topple has been a WCCN member since 1994 when he first visited Nicaragua on a church mission trip.
On that fateful trip he had a chance to meet with Carter Garber of The Nicaraguan Council of Protestant Churches (CEPAD) and one of the founders of WCCN’s loan fund. In 1994, WCCN’s loan fund, the Nicaraguan Community Development Loan Fund, was less than three years old and was the only loan fund in Nicaragua providing microcredit to the poor and marginalized -- especially women. Inspired by what he learned firsthand, Jim understood the incredible need for and effectiveness of microcredit to rebuild after decades of civil war. He invested $5,000 for five years at 0% interest.
Jim’s initial investment was significant in two ways. First, in 1994, the total capital in WCCN’s loan fund was $584,000, making his investment almost 1% of the loan fund. Second, he chose 0% interest. That choice allowed WCCN to reinvest the $300 interest we would have paid Jim annually back into the fund to build our equity and reserves. WCCN’s equity leverages six times its value in new investments.
In 2002, Jim returned to Nicaragua, where he met microcredit borrowers in their homes and businesses. Families’ ability to turn their lives around with the help of a small loan continually amazed him, particularly how women could help their families and free themselves from loan sharks.
Jim still invests in WCCN – and has increased the amount – because he considers it a safe investment with a well diversified loan fund and healthy reserves. Also, the professionalism of WCCN’s Board of Directors and staff continually impresses him. He appreciates receiving his payments and loan documents promptly and finds the forms easy to read and complete. Most importantly, he has witnessed how microcredit can solve the problems of poverty.
For the last 16 years, Jim’s support of WCCN has grown. For many years Jim received interest on his investment and made donations to WCCN. This past year, however, Jim has renewed his investment at 0% interest rate, choosing to help lower WCCN’s expenses so that we can continue to provide flexible and affordable financing for those working their way out of poverty.
The board and staff of WCCN thank Jim for his long-term commitment to the people of Latin America and his generous 0% interest rate investment.
By Jeanne Duffy, WCCN Development and Marketing Director