MicroFinance & Us -The Challenge

September 22, 2007 | 3 Comments

microfinance-748566.jpgWhat is Microfinance:

Microfinance
Small loans to start or expand small businesses given to poor people who are usually not able to borrow money from commercial banks because the amount of money is too small.

Drew Meyers, someone I would like to consider a friend (even if he is someone I don’t get to speak to on a regular basis) is who turned me on to microfinance a few months back.  Our conversation wasn’t a long one, more of his passion on the subject and his advice to google the issue further.  I did, and I was overwhelmed with the idea of a poor guy like me being able to not only have a major impact on people, a community, an economy, but have an interactive role in contributions I make from the heart.  Many people do not give to a charity unless its the check to Church on Sunday, or a major disaster.  There is nothing wrong with that- that is how we’ve all been trained to give.

What’s so very different with microfinance is that it is interactive.  You get to see what your money did for whatever cause you financed- how cool is that? Got $10 $20 $50 bucks? Lend it! Yes, I said $10- could finance a small business!

So here is what we’re going to do.  Single Pointe is going to pick a business from the ever growing list of microfinance opportunities, and from the date of lending the money, we’re going to follow the business and report it to you. 

Here is the challenge.  We’re friends with hundreds of bloggers around the world, and we’re challenging these friends to find a business through whatever microfinance venue they choose, and then asking them to challenge their friends, etc…  Not to brag, but to blog about it and build a network of blog love like no other that brings worthy attention to this innovative concept.  

Concept breakdown through video:

  

More to come- stay tuned!

Posted by Benn, Single Pointe CEO | Filed Under Austin Real Estate Blog, Human Interest, Microfinance