Low income loans- Microfinace - Microenterprise

Michaelangelica · Feb 2, 2009

This might interest some

Community Banking Products and Loans

NAB wants to give all kinds of people in our community a real head start. That is why our range of microfinance products have been designed to meet the diverse financial needs of the communities we serve.

* Microfinance
* NAB Microenterprise Loans
* NILS
* StepUp Loans
* StepUp Insurance
* NAB Small Loans Pilot
Click to expand...

https://www.nab.com.au/wps/wcm/connect/n ... ut_Us/4/3/

Has anyone any first-hand experience of these "products" from NAB?

Michaelangelica · Feb 23, 2009

Re: Low income loans- Microfinace - Microenterprise

Micro loans pull 'beggars above poverty line'
Updated Tue Jan 27, 2009 3:02pm AEDT
Microcredit programs are quite often targeted at poor women.

They talk of enterprise rather than charity; of helping the world's poorest trade their way out of poverty.
And for the microcredit movement, 2008 has marked an important milestone.
More than 106 million of the world's poorest received small loans to kick start their entrepreneurial dreams last year.

The basic concept behind microcredit is pretty straightforward.
The world's poor and hungry receive loans for small projects, perhaps buying a cow to sell the milk or setting up a fruit stall.
Most of the credit is targeted at women and peer pressure is a powerful incentive to repay.

In Kenya, Ingrid Munro founded and manages the Jamii Bora microcredit trust.
Ms Munro says the trust started with 50 beggars and "most of those beggars are now well above the poverty line".
"Some climb very fast when they take their first loan," she said.
"They start with as little as $20, and when they take that first loan they can now start a very small business, selling a few vegetables, selling charcoal, something like that.
Click to expand...

More at
https://www.abc.net.au/news/stories/2009 ... 475186.htm

We need asimilar sheme her or something Like Charlie's "Prince's Trust"

If you have spare $30 US
and would like to loan it to someone look here
https://www.kiva.org/

You can choose plant people & enterprises for it to go to

Nearly everyone told Matt and Jessica Flannery that their idea--a Web site where people could make micro loans to individual borrowers in the developing world--wouldn't work.

Venture capitalists couldn't see how anyone could make big money on loans as small as a few hundred dollars. And foundations, for their part, wouldn't support something that they saw as commerce, not charity. "We were in this weird social entrepreneurship space, trying to fight perceptions," Matt Flannery recalled.

One lawyer friend even told Flannery the Web site would be illegal. "He said, 'You can't just send money to someone in Uganda and have [him or her] send it back and have it be OK. If you do that, someone's going to care. Someone's going to show up at your door,'" Flannery said. "I read all the policy and case law on it, and I couldn't find anything that said it was illegal. So we just started doing it."

That decision proved prescient. Today, the Web site the Flannerys created-- Kiva.org--is one of the hottest and hippest on the Web. One online commentator compared it to an online dating service, and even former U.S. president Bill Clinton has praised its virtues. Kiva's 270,000 lenders--people who typically hand over their money, via credit card, in $25 increments--have funded borrowers in places as far flung as Tanzania and Tajikistan. So far, they have assisted about 40,000 borrowers in 40 countries and provided a total of about $27 million in funding. A wave of international attention came to the practice of micro lending when Muhammad Yunus and his Grameen Bank won the 2006 Nobel Peace Prize for pioneering work in the field.
Click to expand...

https://www.forbes.com/2008/06/03/kiva-m ... nkiva.html

One day a permaculture Bank or Credit Union :glasses5: :love1:

Tim Auld · Feb 23, 2009

Re: Low income loans- Microfinace - Microenterprise

That kiva.org, what a great idea! Awesome alternative to the destructiveness of the IMF and its crazy idea of development!

Michaelangelica · Feb 24, 2009

Re: Low income loans- Microfinace - Microenterprise

Tim Auld said:

That kiva.org, what a great idea! Awesome alternative to the destructiveness of the IMF and its crazy idea of development!
Click to expand...

Yes isn't it.?!
So if you become really poor in the future you can ask for you money back all you are doing is giving an interest free loan of $30.
I would like to see Kiva charge 1% interest to the people it loans to. This is more realistic, as no one gives interest free loans in the real world. (?!) That 1% might go to funding more loans or covering Kiva's administration costs, which must be huge.
It is interesting, that most microfinacing loans go to women, and they spend it on educating their kids and growing their business. Men drink it. (not all).

Another idea-not yet a reality- green finance

Contingent loans to reduce taxation and greenhouse gas emissions
By Kevin Cox - posted Monday, 2 February 2009 Sign Up for free e-mail updates!

One of the functions of the tax system is to redistribute wealth within the community.
At the moment this is normally achieved by taxing the profits of individuals and organisations and then distributing some of the taxes to other individuals or organisations according to different policy objectives.

There is another parallel approach that is already in use. This is the idea of contingent loans such as HECS, where zero interest loans are given to individuals for them to spend on education and then for them to pay the money back through the taxation system.
That is, the money is given first and then collected.

This is the reverse of collecting tax and then distributing it.
Although over the longer-term the amount of taxes collected is the same, it removes the need to collect taxes first to pay for projects that increase community productivity. It will significantly reduce the amount of taxes collected in the early years.

In particular the idea can solve the current financial crisis, reduce greenhouse gas emissions and distribute new wealth to the needy as well as the already wealthy.

Major policy issues

At the moment the government is confronted with the problem of how to provide fiscal stimuli (spend money) to keep the economy operating in the face of a world-wide contraction of credit, and at the same time find ways to reduce greenhouse gas emissions. These two problems have a single solution.

A scenario

The government issues zero interest loans to individuals, and requires the individuals to invest the loans in ways to reduce greenhouse gas emissions.
The loans are distributed by non-government organisations (NGOs) like banks or community groups.
The loans are paid back from the tax on the profits from the investments. Loans are given to anyone who volunteers.

The size of a loan is in inverse proportion to the person's previous consumption of mains electricity. The loans must be spent in a licensed market place in infrastructure to reduce greenhouse gas emissions. The market place requires both buyers and sellers to provide ongoing information for the market place to calculate the effect of sales on emissions.

Outcomes of the scenario

The cost of renewable energy will become less than the cost of fossil fuel energy. This happens because the finance costs of interest on capital and repayments are removed from renewable energy infrastructure costs.
Click to expand...

More here
https://www.onlineopinion.com.au/view.asp?article=8477

Michaelangelica · Jan 16, 2010

You don't even have to donate to Kiva you just LOAN them $30 and you can get it back anytime
How easy is that for an opportunity to make a real difference, in a practical way, and to alleviate poverty and giving people dignity and control over their lives?
This is anewsletter i just received from them
Hi Kiva Friend,

We are deeply saddened by the devastating earthquake in Haiti, and we're just beginning to hear news from our Field Partner in Haiti, Esperanza. This month's newsletter contains information on Esperanza, the Haitian entrepreneurs supported by Kiva lenders and a link to organizations specializing in disaster relief in Haiti.

Also featured this month are new partners in Latin America, a chance for Kiva to win $1 million, the results of our video contest and more.

Earthquake in Haiti: Update from Field Partner Esperanza

A devastating earthquake has struck Haiti, and many Kiva lenders have been asking how the entrepreneurs in Haiti are fairing. For an update from our Field Partner in Haiti, Esperanza
Earthquake in Haiti: Update on Kiva Field Partner Esperanza
Jan 13, 2010
As you may have seen in the news, a terrible earthquake struck Haiti yesterday afternoon. The earthquake, 7.0 in magnitude, struck about 10 miles outside Haiti’s capital, Port-au-Prince. The devastation has been enormous, with many buildings destroyed and thousands of people presumed dead. This is the worst earthquake to hit Haiti in 200 years.

Kiva currently supports borrowers in Haiti through our field partner, Esperanza International. Esperanza is based in the Dominican Republic, but has an office and provides loans in Haiti. About 1/3 of the loans Esperanza posts to Kiva are for borrowers in Haiti. In addition, a large percentage of the loans posted from the Dominican Republic are of Haitian migrants who still have family in Haiti. Esperanza has told us that as of now, Esperanza staff are safe though they have several employees with family in Port-au-Prince who have not been able to contact their families and are very concerned. Esperanza’s clients are located in the North, while the earthquake struck the capital in the south. Most of their clients live close to their offices in the north. However, many of them have businesses that require them to travel to and from Port-au-Prince to buy merchandise to sell in the main markets. Their businesses may have been affected and it is possible that some of them may have been in Port-au-Prince at the time and been injured.

It is impossible for Esperanza to give us any exact figures at this time as information is only slowly trickling out of Haiti. As Kiva learns more about the effect of the earthquake on Esperanza and their Kiva borrowers we will update lenders.

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