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KEYNOTE: BUSINESS FINANCING

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Raising finance for the poor can be a daunting task. However, social entrepreneurship sites such as KIVA ---and the whole idea of MICROFINANCING---- make a transformative change in millions of lives daily. Make your own loans today. (Note: POWERPOINT NOT THE SAME AS KEYNOTE)

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KEYNOTE: BUSINESS FINANCING

  1. 1. BUSINESS FINANCE: MICROFINANCING“A bank is a place that will lend you money if you can prove that you dont need it.” Bob Hope http://en.wikipedia.org/wiki/Staff_Benda_Bilili
  2. 2. FINANCIAL HUMOR (?)
  3. 3. PBS: YUNUS, THE EVOLUTION OF MICROFINANCENOBLE PRICE WINNER 2006MICROLENDING = “SMALL LENDING TO THE POOR IN DEVELOPINGCOUNTRIES.” vs. LOAN SHARKMICROLENDING NOT NEW: JONATHAN SWIFTGRAMEEN BANK = 5.7 BILLION --- 5.1 BILLION REPAIDRECOVERY RATE OF 98.9 %WOMEN = 96% OF 6.7 MILLION MEMBERSCRITIQUES: MURDOCH WWW.PBS.ORG/FRONTLINEWORLD/STORIES/UGANDA601/HISTORY
  4. 4. KIVA:LOANS THAT CHANGE LIVES HTTP://WWW.KIVA.ORG/
  5. 5. KIVA ON VIMEO:What did you do with my $25 LOAN? “BE THE CHANGE YOU WANT TO SEE IN THIS WORLD” GANDHI HTTP://VIMEO.COM/10076318
  6. 6. KIVA BOOK: THE BANK OF BOB (chapter 3)“WAIT - LENDING? YES, LENDING. NOT OUTRIGHT GIVING. THAT SOUNDED ODD.”“THE SURPRISINGLY HIGH-REPAYMENT RATE.”“I THINK THAT MAYBE WHY SOME PEOPLE HARDEN AGAINST CHARITABLE APPEALS”“DOZENS OF FACES PEERED OUT FROM MY SCREEN. MOST WERE WOMEN.”“WAIT, I THOUGHT. SERIOUSLY? DUDE IS ALMOST MY AGE.”“I WAS THRILLED TO SEE HE HAD ALREADY BEEN FULLY FUNDED.”“I FOUND MYSELF LOOKING BACK OVER THE LOANS I´D ALREADY MADE AND TRYING TO IMAGINETHE LIVES ON THE OTHER END.” HTTP://BOINGBOING.NET/2013/03/05/THE-INTERNATIONAL-BANK-OF- BOB.HTML
  7. 7. HBR: KIVA CASE STUDY HTTP://HBR.ORG/PRODUCT/SOCIAL-ENTREPRENEURSHIP- KIVA/AN/P70-PDF-ENG
  8. 8. TED: POVERTY, MONEY --- AND LOVE (KIVA, JESSICA JACKLEY) “THE STORIES WE TELL OURSELVES ABOUT EACH OTHER MATTER VERY MUCH.” HTTP://WWW.TED.COM/TALKS/JESSICA_JACKLEY_POVERTY_MONEY_AND_ LOVE.HTML
  9. 9. MY LOANS AIDA LUZ”Everything in her life is much better that it was before.”
  10. 10. QUESTIONING: BUSINESS FINANCINGDO YOU THINK MICROFINANCING WORKS? DO YOU KNOW ANYONE WHO HAS BEEN INVOLVED WITH ITS IDEAS?WOULD YOU LOAN USING THIS MODEL? WHY? WHY NOT? DO YOU LIKE THE KIVA WEBSITE? DO YOU TRUST IT? WHO WOULD YOULEND TO? WOULD YOU BECOME A KIVA FELLOW? (READ CHAPTER 4, THE BANK OF BOB)WHY DO YOU THINK MICROFINANCING IS MORE EFFECTIVE THAN CHARITABLE WORK? DOES MICROFINANCING REACH THEPOOREST? WHAT IS IT ABOUT OUR ECONOMIC MODEL THAT MAKES FINANCING THE POOR SO DIFFICULT? CAN WE PROGRESS INOTHER WAYS? (THINK ABOUT THE HISTORY OF KIVA)IN JACKLEY´S VIDEO, WHAT DOES SHE MEAN THAT THE STORIES WE TELL ABOUT OTHERS ARE CRUCIALLY IMPORTANT? HOW IS THISAPPLIED TO OUR RELATION TO THE POOR? WHAT ARE THE GENERAL IDEAS WE HAVE ABOUT THE POOR? IN CONTRAST, WHAT DO YOUTHINK OF THEIR REPAYMENT RATE? SHOULD WE INVEST MORE ON THE POOR? WHAT DO YOU THINK OF BUNKER ROY’S BAREFOOTIDEAS? DO YOU KNOW ABOUT SOCRATES?WHY ARE MOST LENDERS WOMEN? WHAT IS IT ABOUT WOMEN THAT MAKES THEN SUCH GREAT CANDIDATES FOR LOANSACCORDING TO ROY´S VIDEO? DO YOU REMEMBER ROY´S JOKE ABOUT THE BEST WAY TO COMMUNICATE IN THE WOLRD TODAY? (NOTBY TELEPHONE, OR TELEGRAPH, OR TELEVISION, BUT TELL-A-WOMAN)WHAT ARE SOME OF THE IMPORTANT CRITIQUES BY MURDOCH TO THE MICROFINANCING SYSTEM ACCORDING TO THE PBSREADING? WHAT PROBLEMS DO YOU FORESEE AS ENTREPRENEUR? CAN MICROFINANCING REACH THE ILL? HOW THEN CAN THE ILLHAVE DIGNITY?BUT MOST IMPORTANT: How ARE YOU RAISING FINANCE FOR THE UNDERPRIVILEGED?
  11. 11. THE BAREFOOT MOVEMENT: BUNKER ROY “I WENT TO A VERY ELITIST, SNOBBISH, EXPENSIVE EDUCATION IN INDIA; .... AND THAT ALMOST DESTROYED ME.” HTTP://WWW.TED.COM/TALKS/BUNKER_ROY.HTML
  12. 12. “You seem, Antiphon, like one who thinks thathappiness is luxury and extravagance. But I, formy part, hold that to need nothing is divine(theios), that to need as little as possible isnearest to the divine, and what is divine is best,and that what is nearest to the divine is nearestto what is best.” xenophon, Memorabilia I, 6. THANKS SOCRATES http://www.fundacionpiesdescalzos.com/

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