Go Daddy $1.99 Domains 125x125
If you have problem debt, a debt management plan or an IVA could be your first step towards a debt free life. Make sure you get the right advice from qualified debt advisers.

Even if you've had credit problems in the past, you are eligible for a $1000 payday loan .Get your personal payday loan and you can use it to pay off unusually high bills.

Go Daddy $1.99 Domains 125x125

Advertise in DIV-Net Feed
~
Dividends4Life
The Dividend Guy
Dividend Growth Investor
the moneygardener
Stock Market Prognosticator
The Div Guy
Disciplined Investing
Associate Members

Seeking Alpha Certified
Add to Technorati Favorites

Subscribe to Living Off Dividends

RSS

Subscribe via email:



Living Off Dividends's Facebook Profile

personal finance

Friends

Poor credit marketplace that provides Bad Credit Loans and credit articles.

What Is Microfinance?

Here’s a post from the archives. I had saved it and never got around to actually publishing it!

Who the hell is Mohammed Yunis and why on earth did he win the Nobel Peace Prize?
Well he pioneered the use of micro-loans to poor entrepreneurs in Bangladesh. Dubbed as the “Banker to the Poor”, he began fighting poverty during a 1974 famine in Bangladesh with a loan of $27 out of his own money to help 42 women buy weaving tools to save them from the clutches of the usurious moneylenders.(Yeah, back in the day, $27 was actually worth something).

So whats so revolutionary about microfinance that he deserves the Nobel Prize?
Apparently people think that it will become a catalyst to eradicating poverty. Even the Economist had an article about some guy who was giving out micro-loans to poor tea plantation workers in Assam, India to buy Solar powered headlamps(made by his own company!) but the economics made sense and it was a win-win for everyone.

So how do you benefit? You can become a lender yourself through  and offer micro-loans to other people starting with as little as $50. And thus you can do your part to eradicate poverty. Yeah!

If you found this post helpful, consider donating to my coffee fund!

[Slashdot] [Digg] [Reddit] [del.icio.us] [Facebook] [Technorati] [Google] [StumbleUpon] Related Posts
  • Heard On The Street What's the difference between a pigeon and a Wall Street banker? The pigeon can still make a deposit on a Porsche! Meanwhile, in what looks like a stunning display of stupidity, the Federal Reserve recently hired someone to "assess the safety and soundness of domestic banking institutions." The new employee......
  • cheap home for saleObama Says "We Buy Ugly Houses"! Source: Miz Duke As everyone knows the only thing wrong with America right now, is the lagging economy. If we could only boost our economy and increase our GDP we'd be able to unleash prosperity on everyone.  So building on the resounding success of its "cash for clunkers" program, the......
  • 10-year-returns-by-asset-classGold Is A Lousy Investment Gold hit another record today and is currently trading over $1,100 as I write this. However, it hasn't prevented several news stories coming out about how gold is a lousy investment. Investment stalwarts from Warren Buffet to Monish Pabrai have all denounced gold as an investment. And despite the decent......

Related Websites
  • Is The U.S. Financial System 50 Feet Beyond The Edge Of The Cliff? One my favorite writers on sustainability/environmental/financial issues, Jim Kunstler (I just finished his latest book, World Made By Hand), has this to say about the similarities between Wile E. Coyote and our financial system: " There's a particular moment known to all Baby Boomers when Wile E. Coyote, in a......
  • Barack Hussein Obama Wins 2009 Prevaricator of the Year™ WASHINGTON: It's official. Congratulations to Barack Hussein Obama, sole recipient of the 2009 Prevaricator of the Year™. There were some very tough competitors. Recently Janet Napolitano threw her hat in the ring in her famous appearance on CNN, "The System Worked." Who can forget Mary Landrieu's classic, "I Can't Be Bought"?......
  • Player Profile for Jack William Nicklaus Jack Nicklaus was born on January 21 in 1940, and is widely regarded as one of the greatest professional golfers of all time, known as the Golden Bear. He has excellent records in many major championships, including 18 professional majors in a 25 year PGA Tour career, lasting from 1962......

[All content is copyright of Living Off Dividends & Passive Income]

Related Posts

You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

One Response to “What Is Microfinance?”

  1. Never know there is such a great idea of microfinance. In Malaysia, poor people have no choice but to borrow from loan shark at interest rate of 4% per month!

Leave a Reply

Click Here For The Wall Street Journal