Lumana Credit is Microlending to Rural Africans from Seattle
Rebecca Byers — May 7, 2013 — Social Good
References: lumana.org & fastcoexist
Lumana Credit is a Seattle-based microfinancing institution that empowers rural Africans through its social finance banking model. Specifically, Lumana provides small loans, savings accounts, and business education training to entrepreneurs who do not normally have access to such resources.
Lumana helps entrepreneurs from rural Ghana thrive and achieve sustainable self-sufficient lifestyles through its unique program that serves as a culmination of microfinance, social enterprise, and human development programs that aims to decrease poverty.
To date, Lumana Credit has provided an estimated $292,000 in loans in 13 villages and boasts a 91% rate of female borrowers. Founded in 2009, Lumana Credit was started by a group of young, skilled individuals interested in investing in the potential of rural Africa as a means to eradicating poverty.
Contact Information
Lumana Credit website
Lumana Credit on Facebook
Lumana Credit on Twitter
Lumana helps entrepreneurs from rural Ghana thrive and achieve sustainable self-sufficient lifestyles through its unique program that serves as a culmination of microfinance, social enterprise, and human development programs that aims to decrease poverty.
To date, Lumana Credit has provided an estimated $292,000 in loans in 13 villages and boasts a 91% rate of female borrowers. Founded in 2009, Lumana Credit was started by a group of young, skilled individuals interested in investing in the potential of rural Africa as a means to eradicating poverty.
Contact Information
Lumana Credit website
Lumana Credit on Facebook
Lumana Credit on Twitter
Trend Themes
1. Microfinancing - Opportunity to expand microfinancing services to other regions or countries in need of financial inclusion.
2. Social Finance Banking - Potential for implementing social finance banking models in other developing regions to empower entrepreneurs.
3. Human Development Programs - Chance to develop similar programs that combine microfinance and human development to address poverty in different communities.
Industry Implications
1. Microfinance - Opportunity for microfinance institutions to expand their services to provide loans and resources to entrepreneurs in rural areas.
2. Social Enterprise - Potential for social enterprises to adopt Lumana Credit's model of providing small loans and business education training to underserved populations.
3. Global Development - Opportunity for organizations involved in global development to invest in and support programs that aim to decrease poverty and empower entrepreneurs in rural communities.
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