Nov 16 2006
Micro Lending A Fantastic Not-For-Profit Business Model
I’m reading more and more about the not-for-profit business sector lately and I suspect at some point down the track that may be where I put the greater part of my business energy towards.
Jon from Art of Money posted a great write up about Micro Lending and the Decline of Poverty in Bangladesh after watching an interview with upcoming nobel peace prize recipient, Muhammad Yunus.
Mr Yunus set-up a bank called Grameen which gives out micro loans to the poor. His bank enjoys a 98% repayment rate and distributes most of the loans to women since women have proven to be much more reliable and responsible users of the funds.
Go and read Jon’s write up and I think you will be impressed by this story of one man’s ingenuity to help the world’s poor.
