Word: microcredit
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...dollar business entrepreneurs crazy, but Endeavor CEO and co-founder Linda Rottenberg says, "That's when you know you're on the right track." Endeavor's 236 entrepreneurs so far--from Latin America and most recently from South Africa--would agree. Endeavor's approach of "catalyzing entrepreneurship," by merging microcredit and private equity with consulting support networks, is part of a broad effort to foster entrepreneurship in the developing world. Endeavor and others hope the companies they nurture will serve as examples for others to follow. So far, Endeavor projects have generated an estimated $974 million in revenue...
...Lending money to the world's poorest people? With no collateral? You must be out of your mind." That was the typical response Deutsche Bank's Asad Mahmood says he used to get when he tried to sell Wall Street on the concept of expanding microcredit in developing countries as a viable investment rather than charity work. But throw in a projected risk-adjusted return of 14%, and suddenly the Sheratons, ADPs and CalPERS of the world are more willing to consider what has long been the province of venture philanthropists and NGOs. As director of Deutsche Bank's Community...
...better than commercial banks in the aftermath of that country's recent financial crisis. Meanwhile, Unitus, a new source of venture capital for MFIs run by a former Microsoft executive, touts the fact that it joins the board of the firms it invests in, while Cyrano Management, a Peruvian microcredit-fund manager, boasts of monthly checkups on MFIs...
Deutsche Bank is recruiting corporate investors for its pioneering for-profit microcredit venture by pointing to its successful four-year trial run with a private donor-backed fund. Both funds seek to lend credibility--in the form of hard-currency collateral--so that MFIs can establish relationships with local banks and get better loan rates. Likewise, Citigroup has used its branches in places like Kenya to make local-currency loans to MFIs, with the hope that conservative local banks will follow suit...
...founded “Take Care,” a program to help both the environment and the lives of villagers around the national park by such measures as establishing microcredit banks and teaching conservation methods to preserve the forest...