Wokai Chapter lunchtime presentation
•Download as PPTX, PDF•
0 likes•186 views
Introduction to microfinance, its impact on improving people's lives, its history, and Wokai's work growing microfinance in China.
Recommended
More Related Content
What's hot
What's hot (16)
Viewers also liked
Recently uploaded
Recently uploaded (20)
Wokai Chapter lunchtime presentation
- 1. MICROFINANCE Group Guarantee Business Training Small Loans Women
- 2. IMPACT Create lasting change Share Opportunity Journey to Remote worlds
- 3. 1976 “ Microfinance can work in China. The demand is insatiable and the social capital is strong.” - Muhammad Yunus, 2009 $27 42 loans
- 4. Today Asia, Africa, South America, Europe…& North America 152 million clients Nobel Prize
- 5. Wokai “Wokai” means “I Start” in ChineseWokai’s mission is to empower people in rural China to lift themselves from poverty by starting small businesses
- 6. What we’ve built. 1,500,000Yuan loan capital raised 100 Volunteers worldwide 22 months live 360 low-income entrepreneurs 2 Field Partners in Inner Mongolia & Sichuan 15 Chapters in North America, Asia, & Europe 40+media features
Editor's Notes
- Slide 1 – Introduction to Microfinance Microfinance is financial services to the poor including loans, savings, and insuranceThe most popular form of microfinance, and they type we’ll be talking about today, is microcredit.Microcredit is small loans to the poor so that they can start or expand small businesses ranging from craft making and small shops to food stands, strawberry farms, and rabbit raising. Microfinance has 4 hallmarks:Small loans: loans range from $50 to a few thousand dollars. [Microfinance clients don’t need much to get their businesses off the ground.]Group Guarantee model: Since microfinance clients usually do not have assets to guarantee their loan, microfinance has developed a collateral system based off of trust, called the group guarantee system in which a group of borrowers will come together and guarantee each group members loans. If one borrower doesn’t repay, the other group members have to step in to repay that borrower’s loan. If no one steps in to make that repayment, none of the borrowers will have access to microfinance again. Training & emotional support: microfinance is often coupled with training and emotional support to ensure that borrowers have the tools and support necessary to succeed in their business and repay their loans. Women: the majority of microfinance clients are women. Women have proven to repay at higher rates and use their funds to support their families.Microfinance has proved incredibly successful with 95% and above repayment rates worldwide.
- What’s amazing about microfinance is the impact that it has on people’s livesMicrofinance not only enables people to start small businesses, but it also lifts entire families and communities out of poverty. Microfinance clients usually use their income on key family needs such as education for their children and purchasing medicine and household needs. The result is that entire families are now able to get out of a cycle of poverty and children have access to entirely new opportunities for their future.On top of that, the loan is recycled year after year to provide an endless cycle of opportunities. Show this impact through one story of Fu Yajun, a 30-year-old mother of two living in Sichuan who has been able to start lifting her whole family out of poverty because of microfinance.Fu Yajun’s life today is starkly different than it was a few years ago when her and her husband worked day and night as day laborers just to get enough food to on the table for their children. Their luck began to turn when they started working on a mushroom farm. Impressed by Yajun and her husband’s hard and honest work, the farm owners shared with Yajun some of their expertise in growing mushrooms. Yajun and her husband paid attention, continued to work hard and in ‘07 they used their savings to start their mushroom-raising business. But, they ran into a problem… Even though their endeavor was promising, they still weren’t able to expand their business to scale where they could earn enough to save for their sons’ education. Frustrated one day, Fu Yajun in passing mentioned to her neighbor her plight. Having received and benefited from microfinance himself, Yajun’s neighbor recommended that Yajun apply for a microloan. Today, with the help of a micro-loan from Wokai’s Field Partner, ARDY, Fu Yajun has expanded her mushroom farming operation, enabling her to afford healthcare and schooling for her two sons. In Yajun’s words, Wokai has enable Yajun and her family to have ‘a better life’.
- Slide 3 – The story of Microfinance – How this all started Started in 1976 when Professor Muhammad Yunus had the idea of using $27 from his pocket to provide loans to 42 craftswomen in a village in BangladeshAt that time, everyone thought he was crazy, arguing that the poor would use the loans to buy food and pay for other basic needs, and would never be able to repay.What was amazing was that these women not only repaid their loans on time, but they repaid with interest to cover the costs of servicing their loans.
- Slide 4 – The story of Microfinance – Microfinance today Over the last 35+ years, microfinance has grown from 42 women in that village in Bangladesh to 152 million borrowers worldwide.Professor Yunus, who people that was crazy back in 1976, was awarded the Nobel Prize in 2006Microfinance has spread to 6 continents around the world, including recently to North America / the US
- Slide 5 – Why you’re interested in Microfinance, What is Wokai & why you decided to join Wokai Why you’re interested in MicrofinanceWhy you joined Wokai Wokai is creating microfinance opportunities for people living under the poverty line in rural China through a platform that connects people all around the world with borrowers on the ground who want to start small businesses. Contributors can go onto wokai.org, browse borrower stories, photos, and loan requests, and contribute capital to support a borrower of their choice. They get to track their progress as borrowers build their businesses, and redistribute their contribution once it’s repaid.
- Slide 6 – What we’re doing at Wokai Over the last 3.5 years since launching we’ve done a lot. We launched our website almost 2 years ago, in November of ’08, and have already enabled 360 recipients in rural Sichuan & Inner Mongolia to start small businesses.We’ve also grown Wokai into a global community, including me, of over 100 volunteers & 15 Chapters worldwide, and 2,000+ contributors online. Follow-up Ask them if they’re interested in learning more about Wokai. If so: Sign them up for Wokai email updates directly through the Wokai site. Either way, see if their technology savvy, ask them if they wouldn’t mind becoming a fan of Wokai on Facebook (facebook.com/wokai)Send them the email below with more informationOptional: set up a company, school, or group giving team and share a link with them to join