Students become micro-credit lenders

January 10, 2008

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SFU students are using the $6000 they earned from a micro-credit fundraising competition last year to make loans to entrepreneurs in the developing world. The competition was sponsored by the SFU chapter of Agents of Change (AOC), a non-profit organization dedicated to youth engagement and finding sustainable solutions to global poverty.

The young investment wizards will manage and distribute the funds through Kiva, AOC’s micro-credit lending partner. Dubbed the eBay of micro-credit, Kiva runs a website (www.kiva.org) where lenders can learn about borrowers, loan them funds and then monitor their progress.

“That’s the beauty of (AOC’s) micro-credit funds,” explains Sean Peters, a fourth-year business/anthropology major who organized the competition and founded the SFU chapter. “The money is loaned out in perpetuity, helping many third-world entrepreneurs and their families escape poverty.”
More: srpeters@sfu.ca
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