Fighting poverty through microloan guarantees
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We've written about a number of microfinance organizations in recent years, including not just oft-cited Kiva but also Wokai and Jolkona. Whereas those ventures all strive to help entrepreneurs in the developing world by facilitating direct microloans and donations, however, California-based nonprofit United Prosperity is taking a different approach by focusing on providing loan guarantees instead. A traditional microloan or donation of USD 100 delivers roughly that same amount to the entrepreneur in need, but providing a loan guarantee of the same amount can result in a much larger loan from a local bank, United Prosperity says—as much as USD…
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