Bigelow Homes Coordinates $1 Million in Donat...
For Release: 12/1/2006 11:54:00 AM
American author and naturalist Henry David Thoreau said, "If you give money, spend yourself with it." And that's just what Bigelow Homes CEO Perry Bigelow is doing, while enabling Chicago area suppliers and contractors to do the same.
In the last five years they've raised nearly $1.2 million for the disadvantaged through the House for Hope program.
"I am very impressed with Perry's generosity," said Hope International National Coordinator John Warder. "He is such a giving person. Bigelow Homes has a history of helping people that are down and out."
In light of this, it's no coincidence that one of Perry Bigelow's favorite books is Stephen R. Covey's "The 8th Habit: from effectiveness to greatness", which encourages providing inspiration to others.
Across the U.S. builders have donated 50 houses during the eight years the House for Hope program has been in existence.
The program, under the guidance of HOPE International, involves building and selling a house to raise money to loan to small businesses in underdeveloped countries.
Last Year Hope International founder Jeff Rutt said that while there are many other communities in the U.S. that are pulling together to build House for Hope projects, the community effort in Aurora is one of the best.
"The program in Aurora is a model," he said. "When someone asks how to build a House for Hope and how it build it right, we send them here."
Nineteen Chicago area businesses have donated supplies and services to the House for Hope program for all five years that Bigelow Homes has overseen it. These businesses are: Coleman Floor Company; Cornerstone Material Recovery, Inc.; D & H Energy Management Co.; Eagle Concrete, Inc.; Final Sweep, Inc.; Fox Excavating; Heights Glass & Mirror; Laminate Werks, Inc.; M. Ecker & Co.; Inc.; Michael Nicholas Carpentry, LLC/Stock Building Supply; SCE Unlimited; Seal Tight Exteriors; Stock Building Supply; Tempco Heating & A.C., Co.; d & b Marketing; Draper & Kramer; Shamrock Mortgage; Eleni Interiors; and of course, Bigelow Homes.
Much of the labor was provided by employees of these companies who spent weekend and after-work hours on these five monuments to altruism. Dozens of employees worked many overtime hours in the spirit of goodwill.
"The participation of our trade partners in these homes has exceeded our wildest dreams," Bigelow said. "Because of them over 200,000 people now have economic hope not for a day or two or a month or two, but for the rest of their lives."
By giving small (micro) loans to entrepreneurs in developing countries, HOPE provides disadvantaged individuals the opportunity to combine their skills, talents, and work ethic toward building a better future for themselves, their families, and their community. These loans typically range around $200, and are directed toward those who need funds to buy basic equipment or materials to get their small business off the ground.
Micro-lending is not a gift, but a win-win-win investment strategy in which the creditor earns interest, the recipient receives the capital, and the community benefits from the new business. Because the loans are repaid 95% to 99% of the time, the donation is used over and over again.
"It's almost a perpetual lending machine," said Bigelow. "The $1.2 million donated by our trade partners and Bigelow Homes will create over 40,000 micro business loans, which will create over 50,000 jobs which creates economic stability and hope for over 200,000 people. That's more people than live in Aurora, Illinois' second largest city. And all this benefit was gained from five houses. That's the greatest leverage I have ever seen!"
Maria and Jim Ramos bought a House for Hope from Bigelow last year. It was a year when most of the proceeds went to help tsunami victims in Sri Lanka.
"When we were in the process of buying the house, we would tell everyone that the money was going to Hope House," Jim said. "It made us feel good to know that, with the tragedy over there, we were part of a huge donation."
Philanthropists have begun to use the idea to multiply the reach of their generosity. Last year, eBay Founder Pierre Omidyar donated $500 million to start a micro-lending bank.
Mohammed Yunus recently won the Nobel Peace Prize for pioneering the use of micro-loans in the 1970s. Despite predictions, Yunus' Grameen Bank, which was founded in Bangladesh, claims a repayment rate of over 95 percent.
HOPE International officials and Perry Bigelow verify similar results.
"Disadvantaged people are very responsible; and disadvantaged people pay us back," Rutt said.
A middle-aged man in China, who spent most of his life working in a factory, was able to start a successful tofu business with a $363 loan; and a woman in Afghanistan used a $110 loan to start a clothing business, which was so successful that she used some of her profits to start a school in her village.
All five of the Bigelow homes were built in the developer's cutting-edge community, HomeTown Aurora, itself a further testament to Bigelow's dedication to enhancing the human experience.
At HomeTown Aurora, the focus is on community and neighborliness. Diverse home designs, nestled in a pedestrian-friendly layout, appeal to singles, dual-income couples, empty nesters, and seniors. There are 27 acres of shared open space that include award-winning parks crafted for no other reason than caring for the human spirit.
Bigelow Homes pioneered the community, now a template for other builders, by incorporating classic small town features such as large, inviting front porches; white picket fences; big bay windows; six-foot wide sidewalks; living courts; private cul-de-sacs; streets designed to keep traffic under 15 mph; and on-site destinations, such as the Town Center, which is within walking distance of every home. There is also a post office, a daycare center, and an elementary school.