What you should know about microfinance

less than 1m read

·Nov 8, 2024

I want to tell you about micro finance because you might want to either donate to it or get some money from it. I especially want to tell you about Gine America, which is a micro finance bank that I support the most. Micro finance is small loans to people who don't have any money for them to build businesses. They're typically a few thousand dollars in size for small endeavors, like buying a rug cleaning machine to get into the rug cleaning business.

The banks I financed are in economically depressed areas, so it's been incredibly satisfying for me to see people in these underserved communities flourish. In some cases, they evolve into pretty big businesses with that type of financial support. For every dollar I donate, roughly $12 is loaned out and paid back over the next 10 years. So the money keeps going round and around to help many people over many years.

For that reason, I love donating to Gine America and micro finance. If you're philanthropic and you want to have an impact on underserved communities, you should consider it. Or if you are in an underserved community and are looking for a grubstake that will give you the opportunity to start your small business, check it out.

When Cities Were Cesspools of Disease | Nat Geo Explores

Can a Haircut Change Your Life? | The Story of Us

View All

Why Is the Ocean Salty and Rivers Are Not? #shorts #kurzgesagt

Why is the ocean salty and rivers aren’t? In fact, most of the salt in the sea comes from rivers. But how can that be? It all starts with ocean water heading out on the journey. Warm surface water evaporates, the water vapor then rises to condense into cl…

Coffee Farmers Hopeful For Their Dying Crops | Short Film Showcase

Coffee is the second most traded commodity after oil. Socially and ecologically, it still represents a big chunk of Guatemala’s economy, Guatemala’s social networks, and biodiversity sustainability as well. Recent outbreaks of pests and infestations linke…

Introduction to Islam | World History | Khan Academy

The word Islam can best be translated into English as meaning surrender, and in the context of the Islamic faith, it’s referring to a surrender to the will of God. Now, a Muslim is someone who practices Islam, one who submits to the will of God. The centr…

How to Finally Defeat Procrastination and Stop Wasting Time

Let’s be honest, you’re probably procrastinating while watching this video. And because of this, I’m going to keep this as practical and concise as possible. In life, you’re often deciding whether to approach or avoid something. You’re always making a jou…

2015 AP Chemistry free response 1e | Chemistry | Khan Academy

The only common oxide of zinc has a formula ZnO, zinc, and then you have your oxygen. Write the electron configuration for a zinc atom in the ground state. So, there’s a couple of ways that you could do this for the electron configuration. Let’s first id…

Subject and object pronouns | The parts of speech | Grammar | Khan Academy

All right, so grammarians, I want to talk to you about the difference between subject and object pronouns. But before we do that, let’s start off with a little primer on what subjects and objects actually are—um, just generally, for our grammatical purpos…

What you should know about microfinance

More Articles