World Vision has launched a microlending website to connect U.S. donors to poor entrepreneurs in Kenya, Mexico, Rwanda and the Philippines.
Loan beneficiaries coursed through the sites are typically women who do not have the credit history or collateral needed to secure traditional loans.
World Vision micro-loans are tax-deductible and mainly target entrepreneurs living in communities where the international organization is pursuing development initiatives.
Under World Vision’s microlending system, donors choose pre-funded loans that they will underwrite with their donations. Donors are also given updates on the repayment status and impact of the loans they funded.
