The popularity of Third World Microloans to help folks work their way out of poverty continues to expand. This story from the Observer-Tribune mentions how an investment banker is taking the microloan concept to rural Guatemalan communities…
The only place this doesn’t seem to catch on is the US. Perhaps because if you have a job and a credit card offering you a “balance transfer” at some ridiculously low interest rate under 5% you’re going to be way ahead of the interest and paperwork required for a “microloan” here. It’s big where there are no other options and people can’t get in a car and run off with the cash.
While working in investment banking in New York City in 2000, former township resident Greg Van Kirk read about Nobel Peace Prize winner Muhammad Yunus’ micro-credit work providing loans to the poor of Bangledesh.
It was the inspiration Van Kirk needed to begin a career in international development.
Within two-and-a-half years, he had started his own development organization providing loans to rural constituents, as well as services that integrate business creation, training and consulting for budding rural entrepreneurs.
Van Kirk, 37, is at the forefront of a new development approach called “social entrepreneurship� where residents in developing countries are encouraged to participate in globalization.
He is also changing people’s lives with his non-profit organization and volunteer opportunities, while pushing the boundaries of his field.
Visit his website: Community Enterprise Solutions
Thanks to Small Business Survival for the tip.
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