(Balinyouqi town, Chifeng prefecture, Inner Mongolia) The seamstress I interviewed had used her loan to purchase an electric sewing machine, boosting her productivity. I’ll post the interview transcript soon…
Dear readers, you’re probably aware I’m involved with a China microfinance nonprofit, but just in case you aren’t:
What is Wokai?
Wokai delivers an internet microfinance platform that allows individuals to provide Chinese microentrepreneurs with loan capital. Our organization acts as an intermediary in this process, transferring funds from contributors abroad to microentrepreneurs in China through our field partners. Watch our video presentation!
Who does Wokai support?
A typical Wokai microentrepeneur is a female rural inhabitant, living on less than $1/day. Her microfinance loan, ranging from $150-$300 dollars, provides her with the capital to start a small business. Her business varies by location, raising sheep in a rural grassland or operating a small fruit stand in a city center.
With her income, she accumulates savings, which allows her to allocate money towards long-term investments like education and health. By the end of her loan cycle, she has experienced increased financial independence, bolstered self-confidence, and a strengthened sense of community.
Learn more and contribute today at http://www.wokai.org.
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