Students will also be able to apply the business skills they’ve learned to a humanitarian effort, and help raise awareness and promote discussion on microfinance in the Indiana University community.
What is microfinance?
According to the Grameen Foundation:
Relying on their traditional skills and entrepreneurial instincts, very poor people, mostly women, use small loans (usually less than $200), other financial services, and support from local organizations called microfinance institutions (MFIs) to start, establish, sustain, or expand very small, self-supporting businesses.
A key to microfinance is the recycling of loan dollars. As each loan is repaid—usually within six months to a year—the money is recycled as another loan, thus multiplying the value of each dollar in defeating global poverty, and changing lives and communities.
To provide a lasting and distinctive learning opportunity for bright students through the application of learned skills to the developing world. Passionate, high-caliber college students can truly make a difference, and we hope TMI will remain a vehicle for such students to contribute to the global fight against poverty.