Developing a microfinance model to break the cycle of poverty |
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| Institution: | 1. Kelley School of Business, Indiana University, 1309 E. Tenth Street, Bloomington, IN 47405-1701, U.S.A.;2. School of Global and International Studies, Indiana University, 355 N. Jordan Avenue, Bloomington, IN 47405, U.S.A.;1. College of Business & Technology, The University of Texas at Tyler, Tyler, TX 75799, U.S.A.;2. Frank G. Zarb School of Business, Hofstra University, Hempstead, NY 11549, U.S.A.;1. School of Economics and Management, Hebei University of Technology, Tianjin, 300401, PR China;2. The Center for Enterprise Information and Management Innovation, Tianjin Humanities and Social Science Key Research Base, Tianjin, 300401, PR China;3. Business School, Sichuan University, Chengdu, 610064, PR China;1. International Centre for the Development of Entrepreneurial Communities, 371 Portglen Road, Borrowdale, Harare, Zimbabwe;2. University of Huelva, Plaza de la Merced, 11, 21002 Huelva, Spain |
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| Abstract: | Multigenerational poverty is common in developing countries. Illiteracy, poor health, and unemployment compound a person’s ability to break the cycle of poverty. In this article, we break down the process of designing, testing, and implementing a microfinance model to help end multigenerational poverty in an impoverished refugee village in Uganda. We describe key decisions in developing the model and assess its effectiveness as an instrument in achieving this service objective. We believe our grassroots primary research can benefit many NGOs that might be contemplating lending programs in developing nations, as well as other collegiate institutions interested in implementing sustainable programs that allow students the opportunity to work on global issues in developing nations. |
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| Keywords: | Microfinance Informal economy Student engagement Social impact Entrepreneurship Developing nations |
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