I recently saw a post on the Kiva groups pages by a real estate agent for Coldwell Banker who was looking for sellers he could represent, and in return he would donate %5-%10 of his profits to microfinance.  I wasn’t a very big fan of him advertising himself on the forum pages, however, I was a big fan of the concept.  Drew followed up with one of his contacts at CB Bain, and it turns out that they have a Community Partnerships Program where their agents can gain business but also give back to the community.  I think that if more people engaged in similar business practices, not only would we have more people lending to microfinance, but it would also help boost the economy by connecting people with similar business interests.  Additionally, there would be a great boost in microfinance lending.  There is a lot of money that trades hands during real estate sales, if even a fraction of that money could go to microfinance (or any non-profit for that matter) we would help thousands of people around the world.  Kudos to CB Bain with their Community Partnership Program, hopefully we see similar programs throughout other businesses.

There are lots of things going on all over the world in microfinance every day, it’s pretty hard to follow even a fraction of them.  So, I’ve decided to share a few links of the interesting things that have been going on  in microfinance within the last couple of weeks:

Haiti – In Haiti, small loans make a big impact
Kenya: – Mobile Banking Gives Kenyans New Weapon Against Poverty
Afghanistan – Microfinance Reaching the Rural Afghanistan
Cape Verde: – Africare to support microcredit in Cape Verde
Philippines – RBAP-MABS Partners with Microfinance Opportunities and the MasterCard Foundation to Expand Mobile Phone Banking Services
Southeast Europe – EFSE Microfinance Fund Reconfirms Support to MSEs in Southeast Europe…

Earlier this month, Muhammad Yunus and the Grameen Bank opened a branch in Manhattan, making it the third branch in the state of NY.  Microfinance has proven itself to work in third world countries, but there has been a lot of opposition to microfinance in the US.  Last year, Kiva opened its doors to lending in the US and was met by a lot of unhappy lenders.  However, over time, as the loans have proven to work, the anti-US lending arguments have started to subside.  Up until now, the Grameen branches in NY have been doing well, with a 99% repayment rate, which proves that it doesn’t matter what country you are from, or how big the city is that you are in, as long as you can get credit and are willing to work hard with the money you have received, you can make it anyhwere.  Dr Yunus was recently quoted as saying “I think 2008 has brought us back to that question again, the question of who is credit-worthy?” which I think is a great statement.  Lenders can choose who they lend to by using their own criteria, but it doesn’t mean they get the right to choose who is “poor” and who needs a loan.  I think that Grameen America (as well as Kiva and the other microfinance orgs) is making a great stride in microfinance in the US.

Here is a video of Dr Yunus speaking at the opening in Manhattan:

For more video about Grameen America check out their video files

Global Partnerships is holding its first ever Social Investor Forum in early June, and since many people passionate about microfinance are also passionate about putting their money into initiatives that produce a social as well as economic return, I thought I’d post the event here. For those of you who are in the greater Seattle area, or willing to travel, and interested in social business and investing, I hope you can make it.

Below are further details regarding the event from the Global Partnerships’ website:

WHAT: Global Partnerships Social Investor Forum

WHEN: Tuesday, June 8, 7:30-9:00 a.m. (Registration and breakfast at 7:00 a.m.)

WHERE: Meydenbauer Center, 11100 NE 6th Street, Bellevue, Washington

With $39 million in capital at work, Global Partnerships has a 15-year track record of investing in Latin American microfinance.

Attend our inaugural Social Investor Forum on Tuesday, June 8 and learn about investment opportunities that generate both social and financial returns. Gain a deeper understanding of GP’s investment strategies and partner organizations, and ask questions of President & CEO Rick Beckett and board leadership, including Board President Dean Allen, CEO of the McKinstry Co.

This event is designed primarily for current investors and donors to GP but is open to the public. There is no cost to attend.

Space is limited! Register online to reserve your spot, or call 206.652.8748.

Although I haven’t heard of too many job opportunities or internships in Washington DC, here is a great internship at Microfinance Opportunities (MFO) that will introduce you to some very knowledegable people in the microfinance sector where you can gain valuable experience:

Microfinance Opportunities (MFO) seeks an undergraduate student for a summer internship with the Consumer Research team. The intern will play a key role in the quality-assurance component of an ongoing impact assessment project known as the Financial Diaries. The position offers a great opportunity to learn about microfinance in the developing world from experts in the field, and to see firsthand how a small nonprofit operates. Interns may participate in a wide variety of activities that support individual programs, including research and project development and management. This internship combines data entry and administrative duties with the possibility of research and editing. Applicants should have a keen interest in microfinance, economics, international affairs or international development.

MFO is a microenterprise resource center that promotes client-led microfinance. Its mission is to create a world where every poor person can benefit from financial services. Our work focuses on the design and delivery of high-quality microfinance products and services that match the needs and preferences of low-income households. MFO’s core competency areas include: research and analysis, innovation, and dissemination.

Qualifications:

• Ideal educational level is advanced undergraduate student
• Strong research skills
• Advanced computer skills in Excel (excellent computer skills in Microsoft Word, PowerPoint)
• Ability to work with minimal supervision
• Attention to detail
• Excellent writing, research, proofreading, organization and communication skills
• Background in international development a plus

For more information on how to apply, visit Intern Alert

Last night I went to the Seattle Town Hall where Muhammad Yunus was speaking with a couple of my friends who had never heard him speak.  I’ve seen Yunus speak before when he was here two years ago, but it is always great to hear him speak.  This time, it was a little different because he is touring and promoting his new book Building Social Business:

“In this book, Yunus shows how social business has gone from being a theory to an inspiring practice, adopted by leading corporations, entrepreneurs, and social activists across Asia, South America, Europe and the US. He demonstrates how social business transforms lives; offers practical guidance for those who want to create social businesses of their own; explains how public and corporate policies must adapt to make room for the social business model; and shows why social business holds the potential to redeem the failed promise of free-market enterprise.”

He discussed how Grameen has three branches within New York City, how microcredit is working in the US, and how he would love NY to have zero pawnshops, which was an interesting way of thinking about alleviated poverty.  One thing that I thought was cool was during the Q&A session, someone asked about future plans and how he plans to expand Grameen, and who he will try to reach out to and partner with.  Dr Yunus said that he does not reach out to people, they reach out to him.  All of the people who want to do Social Business with Yunus/Grameen or develop a partnership all reach out to him for advice on how to get started (i.e. Danon).  Social Business, which is quickly showing up on peoples’ radars, is proving itself to work, so bigger corporations are reaching out to people within microfinance to figure out how to build a sustainable social business model.  Dr Yunus is a great speaker as always, and if he is heading through your town, I would definitely recommend going to see him.

In the month of May, Seattle is the place to be for microfinance!  Earlier this week, Vittana celebrated its first birthday and had a great turnout.  It was busy, but not packed, which was perfect because I was able to get plenty of face time with the good people at Vittana. Coming up in the next couple of weeks, there are three microfinance events that are sure to be great:

Careers in Microfinance Panel Discussion and Reception
Where: Kane Hall 120, UW
When: Tuesday, May 25,7:30-9:00PM
Price:  $10, $5 for students

This event will feature panelists from the Grameen Foundation, Vittana, Global Partnerships, and Washington CASH who will share insights on how they entered the field of microfinance, challenges they encountered, successes they’ve enjoyed, and recommendations that they have for those interested in the field.
Register Here

Muhammad Yunus: Business with a Conscience
Where: Seattle Town Hall
When: Sunday May 23rd 7:30-9:00pm
Price: $5

Microcredit pioneer Muhammad Yunus, winner of the 2006 Nobel Peace Prize (along with the Grameen Bank, which he founded) has developed a new approach to capitalism: social business. Yunus, author of Building Social Business, says social business will create self-supporting enterprises that generate economic growth even as they produce goods and services that make the world a better place. Presented by the Town Hall Center for Civic Life, with University Book Store. Series media sponsorship provided by Publicola. Series supported by The Boeing Company Charitable Trust and the RealNetworks Foundation.
Buy tickets

Ignacio Mas of the Gates Foundation on Branchless Banking
Where: Frye Gallery
When: Tuesday, June 8th 7:00-9:00pm

Ignacio Mas is Deputy Director in the Financial Services for the Poor program at the Bill & Melinda Gates Foundation. Ignacio has been a Senior Adviser in the Technology Program at CGAP, Vice President of Marketing and Account Management at interTouch, Director of Global Business Strategy at Vodafone Group, and Senior Manager responsible for telecoms investments in Europe at Intel Capital. Ignacio has been a Visiting Professor of International Business at the Graduate School of Business at the University of Chicago. He holds undergraduate degrees in mathematics and economics from MIT and a PhD in economics from Harvard University.

For more info on any of the events, visit SeaMO

Here is a cool internship opportunity in Africa:

Description
On this project you will be working with a local Non-Government Organisation (NGO) in Dakar dedicated to providing micro-credit services to the local community. You will be predominantly working with a local community bank, set up by women for women, allowing them to setup their own enterprises.

Highlights

• You will assist in the day to day activities of the community bank. These activities could include
• Helping arrange new loans
• Assisting in writing new business proposals
• Helping arrange logistical requirements
• Giving basic accounting / business lessons to groups of women
• Helping out in local nursery (which frees up the women’s time to allow them to work)
• Helping out in the local Bio-agricultural garden

To read more about this internship visit GoAbroad.com

A little while ago Vittana hit a milestone of $100k in loans.  Tomorrow, on 5/18, they hit another milestone: they are turning one!  Come help Vittana celebrate by coming to the party this Tuesday at the Spitfire in Seattle.

When: Tuesday, May 18; 6-10 p.m.

Where: Spitfire, 2219 4th Ave., Seattle, WA

RSVP here

About Vittana
“We believe in the power of education to change circumstances forever and in its ability to help young people take charge of their lives.

Vittana is a different kind of organization. Our founders, board of directors, staff and supporting organizations are drawn from some of the best technology companies, non-profit organizations and design and law firms in the world. We’re drawing upon the best lessons from the business and non-profit worlds to help create lasting change for students around the world. Learn more about our mission and how it all comes together.”

Last month I wrote about some spam that I had seen hit a microfinance platform, well now I am seeing it in another form.  Yesterday I was going through my emails, when I saw an email that I thought was from Kiva, but it just didn’t look right.  I decided to cautiously open it just to be sure.  The email turns out to be from a company called “Kiva Micro Financial Loan Company.”  Once seeing the details of the email, it was obvious that it was a scam that was phishing for information.  In my case, as with many I am sure, since I was opening it with gmail, I received warning that I should be cautious opening the email.  However,I’m sure there are many people who don’t have the same security settings that I do, and might be getting caught by this.  It is a shame seeing scams hit the microfinance world.  Most people don’t get caught by them in this day and age, but the scammers will keep trying to impersonate lenders and organizations to trick people, and all it takes is a couple of the wrong people to get scammed and it will make microfinance look bad.  If anybody sees any other form of Microfinance scams, please share them with the group.