PROFILE OF A MICROFINANCE CLIENT
A typical microfinance client has no physical or financial assets. His only assets are his manhours and his dreams. He has no credit standing. He has little education. He has no job and very few employers will want to hire him. His hope lies in a microbusiness, but he has no capital.
This is where ACCION comes in: by providing small business loans –through its worldwide network of MicroFinance Institutions– to people of no assets (average loan size in Latin America & the Caribbean: $954, Africa: $922, Asia: $85). ACCION also provides “a full range of technical assistance and management services, as well as investment and governance support to help financial institutions build institutional capacity and financial strength in order to serve low-income households on a broad scale.”
If you want your $$$$ to have the maximum & optimum effect on poor people, donations are accepted at www.accion.org/b5media. Donations are tax deductible.
This post is part of the b5media Business Channel Great Blog Off! Find out more about the Blog Off here: http://www.b5media.com/b5media-blogs-for-a-cause.
Great Blog Off logo by Arieanna Schweber, ACCION logo & info from www.accion.org, image from Microsoft Clipart reconstructed by Ren Garcia
