Donation-microloan hybrid helps rural Chinese
Microlending organisation Kiva has been praised for helping small businesses in developing countries get off the ground by connecting them to individual lenders. Unfortunately, its innovative platform doesn’t serve Chinese entrepreneurs, due to restrictions in China’s monetary policy. Which is why Casey Wilson and Courtney McColgan established non-profit organisation Wokai, aiming to do for China what Kiva has been doing for other parts of the world. Since peer-to-peer lending isn’t an option, Wokai developed a hybrid model that combines traditional donations with the benefits of microloans.
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