Microfinance and microcredit

Posts Tagged ‘microcredit’

We would like to anounce that you can now connect to us on twitter. Start follow microfund on twitter! Our aim is to get closer to the people out on the field with connections to microfinance and entrepreurs in order to build our network of microcredit.

Accion is illustrating poverty fighting strategies, what they are doing now and what are planning to do later in their report for 2007. They write about the problems of the microfinance world and how to solve them.

Download the annulal report here if you are interested in microfinance and microcredit.

On the Accion webpage you can find videos that presents the work in bringing financial services to the poor. The videoclips are from areas in the U.S., Peru, Uganda and Tanzania. You find introduction videos, a how to set up MFI-video, microentrepreneus telling their story and about the partners in the microfinance industry.

Here you find the microfinance videos.

Kiva.org connects you to specific business somewhere in the developing world where microfinance is needed. Kiva.org is listing all businesses who´s connected to a microfinance institution joining the Kiva program. By lending out as little as $25 to a business you can make huge impact and help them getting economic stable. Usually the loan is repaid between 6-12 months and you receive journals from the business you´re sponsoring.

A microfinance institution is called field partner by Kiva. To qualify for Kiva´s field partner program the microfinance institution (MFI) needs to:

• serve at least 1000 active borrowers
• be registered as a legal entity in the operating country
• 1 year of financial audits
• have a history of at least 2-3 years lending to people for the purpose of helping them out of poverty

As a social investor you earn 0% interest rate from Kiva. The lending platform Kiva lends out the money to prevailling interest rates.