Many people feel that either big corporations don't care for the poor, or that big company intervention is the only way to create effective change. So here is another article about powerful companies taking an interest in creating positive change.
Reported on the Corporate Social Responsibility News Wire, American Internationl Group (AIG) has donated $1.5 million to FINCA International to help fund their Microinsurance program. AIG is the worlds leader in insurance and financial services. Through their partnership with FINCA, AIG is continuing to provide insurance to the worlds poorest workers.
http://www.csrwire.com/News/8361.html
5.01.2008
4.30.2008
What Businesses Are Being Funded?
When told that a third world country small business is being helped by microloans many people think of small fruit stands, perhaps a bakery, and here and there a weaving company. All in all the image is wholesome. But are all of the entrepreneurs really taking part of constructive businesses?
This article, from the San Francisco Weekly from February 2008, tells of a women who asked for a $700 loan to help fund her cock-fighting business.
http://news.sfweekly.com/2008-02-27/news/kiva-s-micro-loans-underwriting-cockfighting-in-peru/
At this point the question comes up, who is responsible for scanning the loan applicants to make sure the money will be appropriately used. Is it the job of the loaner, who is able to read what the loan is going to, and therefore is able to make a fully informed decision on whether to make the loan or not? Or should the job fall to the over-seeing bank foundation?
Personally, I feel that if someone wants to donate money to help a women start a cock-fighting business that is their deal. As long as the loan seeker is not asking for money to help fund illegal programs then the over-seeing banks should not deny them the opportunity to reach the rest of the world in their attempt to find funding.
What is your opinion on this?
This article, from the San Francisco Weekly from February 2008, tells of a women who asked for a $700 loan to help fund her cock-fighting business.
http://news.sfweekly.com/2008-02-27/news/kiva-s-micro-loans-underwriting-cockfighting-in-peru/
At this point the question comes up, who is responsible for scanning the loan applicants to make sure the money will be appropriately used. Is it the job of the loaner, who is able to read what the loan is going to, and therefore is able to make a fully informed decision on whether to make the loan or not? Or should the job fall to the over-seeing bank foundation?
Personally, I feel that if someone wants to donate money to help a women start a cock-fighting business that is their deal. As long as the loan seeker is not asking for money to help fund illegal programs then the over-seeing banks should not deny them the opportunity to reach the rest of the world in their attempt to find funding.
What is your opinion on this?
Survey
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4.28.2008
FINCA- In Depth
What FINCA Does-
Founded in 1985 FINCA (Foundation for International Community Assistance) was based on a radical idea, credit not charity is the best way to help the poor. FINCA focuses on helping women start and/or expand tiny businesses. When these women become financially independent they are able to better take care of themselves and their family, as well as give back to their communities. A major problem that the poor face is an inability to obtain loans from commercial banks because they have no collateral. As microloans help boost the economy entrepreneurs are able to pay back the initial loans, and now fully established become capable to withdraw loans from national banks, furthering the economies of poorer countries.
How You Can Help-
There are 2 easy ways that you can help the FINCA mission.
1. Make a personal contribution. To do this visit their website at the link provided below. 2. Spread the word. FINCA will provide you with cards that can be sent out to friends and family to help encourage them to make a contribution to this organization. Use the contact information listed below to request their informational cards.
Our Commitment-FINCA supports the economic self-sufficiency of the world's poor, particularly women, through the development of Village Banking Groups. Small loans, not hand-outs, are provided to generate income, savings, and to promote financial independence.
Your Commitment-Your support is not a hand-out, but a hand-up, that directly impacts the lives of impoverished families today. Every dollar and every moment counts!
Their Commitment-Hard work, integrity, and responsibility.
Contact FINCA-
Website- http://www.villagebanking.org/
Fax- 202-682-1535
Telephone- 202-682-1510
Mailing Address- 1101 14th St.
Washington, D.C. 20005
Founded in 1985 FINCA (Foundation for International Community Assistance) was based on a radical idea, credit not charity is the best way to help the poor. FINCA focuses on helping women start and/or expand tiny businesses. When these women become financially independent they are able to better take care of themselves and their family, as well as give back to their communities. A major problem that the poor face is an inability to obtain loans from commercial banks because they have no collateral. As microloans help boost the economy entrepreneurs are able to pay back the initial loans, and now fully established become capable to withdraw loans from national banks, furthering the economies of poorer countries.
How You Can Help-
There are 2 easy ways that you can help the FINCA mission.
1. Make a personal contribution. To do this visit their website at the link provided below. 2. Spread the word. FINCA will provide you with cards that can be sent out to friends and family to help encourage them to make a contribution to this organization. Use the contact information listed below to request their informational cards.
Our Commitment-FINCA supports the economic self-sufficiency of the world's poor, particularly women, through the development of Village Banking Groups. Small loans, not hand-outs, are provided to generate income, savings, and to promote financial independence.
Your Commitment-Your support is not a hand-out, but a hand-up, that directly impacts the lives of impoverished families today. Every dollar and every moment counts!
Their Commitment-Hard work, integrity, and responsibility.
Contact FINCA-
Website- http://www.villagebanking.org/
Fax- 202-682-1535
Telephone- 202-682-1510
Mailing Address- 1101 14th St.
Washington, D.C. 20005
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