The Microfinance of Entrepreneurship

Title: The Microfinance of Entrepreneurship
Date: 2005-10-05
Speaker: Geoff Davis (Unitus)
Link: Podcast
There are three billion people in the world that live on less than $2 a day. Most of them work in the informal economy.
Typical small loans around the world are 10% a day in interest. 10/1 (I give you ten in the morning you give me 10+1 in the evening)
Less than 20% of the people that could benefit from microfinance have access to it. Less than 20% market penetration.
Microfinance has the potential to be a $50 billion market but is currently a $1 billion market.
Microcredit uses business principals to do good in the world.
Worldwide repayment of microfinance is around 97%.
Difficult to come into an industry that is doing incredibly well and saying that this can be done better.