Understanding Microfinance
Go to the KIVA website and explore the "About" link- find out what KIVA does and how they do it.
BLOG HEADING: What is microfinance?
1. Watch the following clip and complete the pre-reading. Afterward, go to your blog and explain what microfinance is in your own words.
https://www.youtube.com/watch?v=bpSNM625LFU
https://www.investopedia.com/terms/m/microfinance.asp
2. Discuss the different ways that microfinance can help those living in poverty.
Class Discussion: Would there be a need for microfinance in Australia?
Thrive micro finance example- watch clip/ read article
BLOG HEADING: Microfinance in Australia
http://www.abc.net.au/news/2017-06-12/microfinance-helping-refugees-fund-their-start-up-dreams/8601318
Watch: https://www.youtube.com/watch?v=fuiiJuB7tJs
Go to the following website: http://thriverefugeeenterprise.org.au/
In your blog answer the following questions:
- What is Thrive? What is it’s goal?
- Use the https://www.westpac.com.au/business-banking/business-loans/business-loans-interest-rate/ to explore the business loans available to people via a bank in Australia.
- What is the interest rate for a Thrive loan and an Westpac business loan? Why do you think there is a difference? Why is it important to consider an interest rate when taking out a loan?
4. Find 3 differences between a Thrive loan and an Westpac business loan
5. What indicators are there on Thrive’s website that suggest that Thrive is a trustworthy and well-resourced organisation that understands how to implement and support microfinance customers?
BLOG HEADING: Potential problems with microfinance
3. Can you predict any problems with Microfinance?
4. Watch the following clips and outline the potential pitfalls of microfinance on your blog.
https://www.youtube.com/watch?v=JzF6thf5GqA
https://www.youtube.com/watch?v=_LK4XMF2u8Y
https://www.youtube.com/watch?v=3RzaMfBLMvE
Move into the groups you will be working with to fund a person on Kiva
5. In your groups, discuss the steps you will take as a group to ensure that your contribution to KIVA will achieve the goals of microfinance. Document your intentions in your blog.
6. What is the mission statement of your group?