Microfinance Tips and Links
<< Entrepreneurship Tips/Links | Contents | Useful Resources >>Microfinance is an amazing and powerful force of change in the fight to alleviate global poverty. However, explaining its concept to people unfamiliar with the topic can be somewhat difficult. To help you pitch and promote microfinance in your Gumball Challenge campaign, we have provided the information below for your reference.
Pitching Microfinance
How do I start a conversation on Microfinance?
Make the situation personal. Put a human face on the situation by highlighting individual success stories. See Kiva.org for several of these stories.
Be positive. Explain how a small amount of money can make a big difference in another country. Often, these loans not only help the entrepreneur, but also uplift his or her family and the community as a whole.
Don't force people to care. Instead, inspire them to care by expressing how much of a difference one individual can make.
Be passionate! Tell them why you are involved and how you became passionate about this subject!
A few facts to use when discussing Microfinance...
Currently, 30 million people have access to microfinance institutions, but there are an estimated 400-500 million people that need access.
Women in traditionally patriarchal societies can use microfinance institutions to empower themselves economically.
A loan of less than $40 can bring an entire family out of poverty in less than a year.
What will each Competitor Team's contribution do?
No matter how big or small a financial contribution your OC makes to the Gumball Capital Fund, you will make a difference. The money you generate can help someone in Kabul start a bread-making business, or fund an entrepreneur in Cambodia to start a farming business. It can help the borrowers gain dignity and pride as they pull their family out of poverty.
Promoting Microfinance
There are many ways to promote microfinance. Consider, but do not limit yourself to the following examples as you organize awareness raising events.
Post flyers in dorms, dining halls, and other popular venues
Set up tables and stations around campus: ask volunteers to verbally advertise the challenge!
Email campus lists and use other forms of mass communication
Hang massive banners in busy spots around campus, moving them every few days to new locations for added mystery and increased visibility.
Use handouts, the facebook, newspapers--be creative!
Microfinance Links
Kiva
Kiva allows donors to connect with and loan money to unique small businesses in the developing world by allowing one to "sponsor a business" and help the world's working poor make great strides towards economic independence.
Accion International
Accion has many MFI partners where borrowers in different countries can get loans.
Muhammad Yunus
A website with history and background information on Yunus, microcredit, grameen, and more.
Grameen Bank
Grameen Bank provides credit to the poorest of the poor in rural Bangladesh without any collateral. It covers more than 94 percent of the total villages in Bangladesh and has created a banking system based on mutual trust, accountability, participation and creativity.
Unitus
Unitus funds MFIs, empowering these organizations to work on a larger scale. Its founders were inspired by Grameen Bank's success and decided to work towards building an institution to ensure that microfinance is available to every individual.
Women's World Banking
WWB works to build an effective global network of microfinance institutions and banks that provide sustainable financial services to low-income women and their families. WWB also engages policy makers and other key actors to spur innovation in the expansion of financial services for low-income people.
<< Entrepreneurship Tips/Links | Contents | Useful Resources >>Microfinance!
Alleviating poverty
by providing
financial services
to the poor.
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