Microcredit in India

Evan Kurtz

FIN431

Small Fortunes: Microcredit & the Future of Poverty

The short film Small Fortunes: Microcredit & the Future of Poverty showed a lot of what is happening on other ends of the globe. People venders such as Kiva, and Muhammad Yunus started providing individuals with microcredit loans. These people were being taken advantage of by loan sharks. Which, would lend them money but basically any money they made they would strip them of.

Microcredit has supplied individuals with small loans anywhere from $10 to $100 and has been a widely successful program. Basically these venders supply loans to people have little to no capital to start a variety of different businesses such as shoe making, raising water buffalos, etc. And the incredible thing behind this program is that 95% of people being lent to, actually make their payments on time. This surpasses the united states return rate incredibly! Now, the video did explain that the community being lent to definitely look after each other. If someone is having a hard week, the ones that surpassed what they needed to make will help as much as they can. Kind of like a I scratch your back you scratch my back situation.

In conclusion, this is an incredible video because it truly demonstrates that just because someone is poor or unprivileged that doesn’t make them lazy. In fact, these individuals being lent to probably understand more about the important of capital, hard work, and saving more than most Americans. Granted, there situation calls for more strenuous care of their financials, they are extremely hard working and careful. I definitely plan to use Kiva to sponsor and individual and to interact with such an amazing programs.