Sunday, March 18, 2007

Microloans


Does helping the poor become self-sufficient sound preferable to giving handouts? Microloans are a pretty cool way to give. The basic concept is that an organization loans small amounts of money to entrepeneurs in developing countries. Without these microloans, the poor of these countries would have no access to credit. A microloan may help them out of a difficult situation that could take away their livelihood, or it may help them expand their business, taking on new employees, and improving the quality of life of their family and community. Slate has a good article here. However, being Slate, they excluded WorldVision, where I give, for being a Christian organization. WorldVision's website provides a lot of information about their microloan program. Most loans are $100-$2000 and 96% are repaid on time. Your donation will be used again and again to help families and communities gain self-sufficiency.

1 comment:

matt said...

I have heard about these on NPR and thought they sounded like such a great idea!