Wokai: Growing Microfinance in China

We forget easily that the $50 on foundation, $100 on clothes, $300 on sunglasses, and etcetra is money that not many people have the luxury of spending. Especially as women in corporate America, we forget even more easily that we are lucky to have opportunities which do not exist in other countries.

One of our good friends is currently working overseas with Wokai, a non-profit organization focused on providing microloans to poor entrepreneurs in China. I was amazed to see how little money (compared to how much we spend on a regular basis) these people need in order to better enrich their lives and provide for their families. As such, please read below for more information regarding this great cause!

What is Wokai?

Wokai delivers an internet microfinance platform that allows individuals to provide Chinese microentrepreneurs with loan capital. Our organization acts as an intermediary in this process, transferring funds from contributors abroad to microentrepreneurs in China through our field partners.

Who does Wokai support?

A typical Wokai microentrepeneur is a female rural inhabitant, living on less than $1/day. Her microfinance loan, ranging from $150-$300 dollars, provides her with the capital to start a small business. Her business varies by location, raising sheep in a rural grassland or operating a small fruit stand in a city center.

With her income, she accumulates savings, which allows her to allocate money towards long-term investments like education and health. By the end of her loan cycle, she has experienced increased financial independence, bolstered self-confidence, and a strengthened sense of community.

Learn more and contribute today at http://www.wokai.org.

This blog post is part of Zemanta’s “Blogging For a Cause” campaign to raise awareness and funds for worthy causes that bloggers care about.

Zemanta will be giving away $6000 (split) to the five charities who get blogged about the most before June 6. Please help us reblog and spread the word about Wokai!

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