My friend Megh posted an entry on her blog about an organization called Kiva. The Frontline video I watched on it was so inspiring that I decided to check it out.
There are entrepreneurs in third world countries trying to expand their businesses, but are unable to get loans because interest rates are over 100% in their country. That is where we come in, you can be the banker and loan as little as $25, called a micro-loan. Each lender puts in a small amount to make up the total loan amount. Most of the loans needed are less than $1000, but can make such a difference by increasing production and revenue.
As a female entrepreneur, I wanted to help a fellow woman.
I read through the bio's on a bunch of the women, but I was really drawn to Djeneba Soro. Here is her bio and picture:
Denedja Soro sells fresh, exotic juices and water in the Abobo market, a populated suburb in the north of Abidjan. Djeneba has been in this business for many years to take care of her family and her children. She started her business on a very small scale. She then acquired, last year, a second-hand refrigerator with a loan from AE&I. She has since then improved her productivity and revenue. Djeneba lives with her cohabitant and their children in Abobo. She has been in the AE&I microcredit program since November 2004 and has received several loans that she has reimbursed in a very good manner.
There are entrepreneurs in third world countries trying to expand their businesses, but are unable to get loans because interest rates are over 100% in their country. That is where we come in, you can be the banker and loan as little as $25, called a micro-loan. Each lender puts in a small amount to make up the total loan amount. Most of the loans needed are less than $1000, but can make such a difference by increasing production and revenue.
As a female entrepreneur, I wanted to help a fellow woman.
I read through the bio's on a bunch of the women, but I was really drawn to Djeneba Soro. Here is her bio and picture:
Denedja Soro sells fresh, exotic juices and water in the Abobo market, a populated suburb in the north of Abidjan. Djeneba has been in this business for many years to take care of her family and her children. She started her business on a very small scale. She then acquired, last year, a second-hand refrigerator with a loan from AE&I. She has since then improved her productivity and revenue. Djeneba lives with her cohabitant and their children in Abobo. She has been in the AE&I microcredit program since November 2004 and has received several loans that she has reimbursed in a very good manner.
