Microfinance Club at School?

Question

I'm interested in starting a microfinance oriented club at my highschool. I'd like to know if this is a good idea. Basically it would work by collecting donations and lending the money out. I know about Kiva.org so far and the Grameen Bank. Thanks.

What i meant by lending the money out is giving the money to existing microfinance organisations, including Kiva.

Answer 1

micro finance does not help poor, 2/3 out of 100 may succeed , but most of others lead themselves into a trap of loan.

Answer 2

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Answer 3

Hi,

If you want to be efficient would be to support the good existing Microfinance organisations instead of creating a new one which would have limited impact on the people you want to support.

Having worked for one, I can tell you that it is difficult for a microfinance institution (MFI) is to properly managed and be financially sustainable after 3 years of activity. Some succeeded like ACCION (www.accion.org) or ProCredit and they have a long-lasting effect on development. A lot of NGOs tried with a good intention, but just badly managed and had to close after couple of years of existence. Problem with bad MFIs is that they ruin trust and hope of clients...

I would recommend you to create a club and support an organisation like ACCION. I think they can organise you a field trip in Latin America or Africa where you would meet with the clients, those microentrepreneurs that you would have really helped by making them autonomous.

Hope this helps

Answer 4

I belive that you should be involved in this culb. It teaches you resposibility, and money skills. Finance isnt boring do go for it!