Micro, Micro and More Micro

I met a loan officer from Uganda last week at an open house for Opportunity International. Their 3 tiered approach to micro-finance is impressive!

MICRO LOANS: A typical first point of entry, the Trust Group brings together 10 to 30 entrepreneurs who elect leaders, receive training and pledge to guarantee each other’s loans. Because the group guarantee replaces the need for collateral, credit becomes available to those previously locked out from formal financial services (98% pay back rate).

MICRO SAVINGS: To provide savings accounts to people who have never had access, Opportunity is building a network of scalable, sustainable and accessible banks throughout the developing world. Savings bring stability and a means to move away from subsistence living. Interest-bearing savings accounts provide a secure, convenient way for clients to manage money and prepare for a crisis or a business opportunity. Medicine for a sick child can be purchased with a few dollars in the bank.

MICRO INSURANCE: Opportunity’s MicroEnsure, the world’s first and largest microinsurance broker, provides protection against the many risks faced by those living in poverty. Innovative products cover policyholders with crop, loan, health, life and property insurance – offering clients a safety net when an unexpected hardship or disaster occurs.

How cool is that?

Check out more info on Opportunity International! http://www.opportunity.org/

Want to PERSONALLY give someone across the globe a micro-loan RIGHT NOW? View profiles and photos, hand pick your entrepreneur, and get paid back. It's not a hand-out! See http://www.kiva.org/