Microcred is an initiative that’s quickly gaining ground – microcrediting provides small loans to entrepreneurs from impoverished areas so they can build a strong business and improve their local economy. “Rather than a one-time handout, micro lending has the ability to help entrepreneurs from developing regions grow and sustain their businesses over the long run. This concept was recognized with the 2006 Nobel Peace Prize.”
Global Agents’ challenge is simple: create a team of 2-5 members and begin networking! Your team will be given $100 from the Global Agent funds as a “microloan” and you then have one week to make this loan grow into as much money as possible into order to create a global initiative towards change.
After your time is up, the money is returned to The Global Agents Catalyst Initiative where they will provide it to entrepreneurs who are impoverished and need help.
And who doesn’t love an award? At the end of your week, each team will present their ideas to the Global Agents where winners will be selected for categories such as “Most Innovative” and “Most Money Raised”.
The Global Agents give three important reasons to participate in the challenge:
1. Poverty can be prevented – Microcredit aids in the fight against it.
2. Being united makes us proud! We can stand together and make a difference in the lives of our friends!
3. FUN FUN FUN! Join in and make some lasting and substantial friendships!
The Microcredit Challenge takes place from March 10-17, 2011. It begins at the Global Agents Head Office in Gastown near the steam clock and ends at the same place on the 17th where teams will submit their final presentations. After that, there’ll be a par-tay at one of downtown Vancouver’s hotspots!
Registration ends on March 4th so be sure to sign up here!
The “Microcredit Challenge” is open to all youth and will surely make an impact the world’s fight against poverty.