Micro Loans Make a Difference

Mcr

"This year the father of micro-finance and founder of the Grameen Bank
won a Nobel Peace Prize for his work in inventing and promoting
micro-loans in the developing world. A micro-loan is as little as a few
hundred dollars invested into a one-person business with minimal
qualifications. That tiny borrowed amount can launch a vegetable stand,
repair shop, or bicycle taxi — a living in other words. As each
micro-loan is repaid (and most are), the effects of that small goodness
are amplified and leveraged by being loaned out and invested again and
again. Micro-loans are the world’s only perpetual motion machines…"

Kevin Kelly


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One thought on “Micro Loans Make a Difference

  1. Not quite the only perpetual motion machines. The Church of Jesus Christ of Latter Day Saints has a program that makes loans to individuals in developing nations for education purposes. When they repay the loans, the money is then loaned to others needing an education. The name of this program is, appropriately enough, the “perpetual education fund.”

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