MicroFinance & Us -The Challenge

September 22, 2007

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 Blog, Human Interest, Microfinance 

Comments

3 Responses to “MicroFinance & Us -The Challenge”

  1. Thanks | Personal Insights on Web 2.0, Blogging, and Business on September 22nd, 2007 10:48 pm

    [...] to those who commented, wrote, or e-mailed me regarding the post I wrote on Thursday night — I’m glad it impacted [...]

  2. Lani wants to know how you promote social justice | My Beautiful Chaos on September 24th, 2007 12:50 am

    [...] love this quote. It really touches on what is the focus of my husband’s current Micro-Financing Challenge (Micro-Financing is a fancy word for charitably donating money even if just $25 to give loans to [...]

  3. Making It Easy To Part With Your Money « RE Revealed on December 25th, 2007 2:44 am

    [...] My husband has spent great effort on micro-financing.  If you haven’t heard of this or considered it, please take a moment to read about it and find out how your money loaned to a small business owner in Zaire can support recovering economies in suffering areas.  [...]

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