Helping Ugandan Micro-Entrepreneurs
| Listing Information | |||
|---|---|---|---|
| Amount: | $2,840.00 | Status: | Loan created |
| Grade: | AA | DTI: | 1% |
| Lender Rate: | 7% | Borrower: | neddotcom |
| Finished | State: | OR | |
| Funded: | 100% | Group: | Group Leaders |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Current | Origination Date: | 2006-05-15 | EricsCC ROI: | 4% |
| Status History | |
|---|---|
| Jul 12, 2006 | Current |
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I'm looking to borrow $2,840 and then re-loan with no additional markup (beyond Prosper fees) to some friends running a community based organization and co-op in Uganda. Again, I'm not marking up the loan or personally making any money under this arrangement, simply working with a group of social entrepreneurs that I?d like to help out. Having worked with LiA founder Christina Kirabo Jordan (Ashoka fellow) and LiA Center manager Monica Nankoma for 18 months now, I'm confident they will be excellent borrowers, and they are also set to pay the loan back in a 24 month timeframe to boot. My personal credit? Well, it used to be a gleaming example of simple elegant perfection. April 2000 and the trouncing to my company did some damage to that. You'll not only get your money back with this loan, you're going to help make the world a better place for people in Uganda that really need it too. Pretty decent. Life in Africa's Loan Budget - 4 Open source web terminals from inveneo.org @ $450 = $ 1800 - 2 Chargeable Power Supply Batteries @ $100 = $200 - 2 Battery connectors @ $25 = $50 - 1 Wi-fi connectivity apparatus from bushnet.net = $350 - 2 Months Wi-Fi connectivity @ $125 = $250 - Overseas fund transfer fees = %190 TOTAL TO BORROW $2,840 Loan Term: 24 months - Life in Africa's Loan Request - Life in Africa is a growing group of individuals determined to work together in new ways to help lift each other out of poverty once and for all. One of the core elements to their strategy is "Internet4Change" training for community agents, who help connect other members to global markets, global communities, and global resources for self-development online. An overview of Life in Africa activities is online at lifeinafrica.com Over the past 18 months of actively pursuing Ashoka Fellow Christina Jordan's "Webbed Empowerment" strategy, the community at Life in Africa's first WE Center in Kampala has thrived and grown. Members include some of the poorest of the very poor in Kampala, and they are now taking control of their lives thanks to the opportunities LiA has already been able to provide. There is a problem in Uganda, however, that is making Life in Africa's online operations increasingly expensive and difficult to maintain. As of mid February 2006, they only have electricity 50% of the time and the power crisis across East Africa is likely to get worse. Power fluctuations are also affecting ISP performance. In spite of receiving a generator donated by the Omidyar Network, they remain without adequate access to the Internet to be able to continue the work that they do, or to keep up with the demand for Internet training among members. Life in Africa is therefore requesting to borrow $2,840 to install 4 new computers and better connectivity at the Life in Africa WE Center in Kampala, Uganda. These open source terminals from inveneo.org operate on 12 volts that can be powered by battery or solar energy, thus offering the growing Life in Africa community a cost effective way to continue online operations in spite of Uganda's severe power crisis. The terminals are packaged with access to Uganda's largest wi-fi network. The planned investment will facilitate the expansion of Life in Africa's i4c training, lending and craft marketing programs in the second half of 2006 and beyond as members continue to innovate their own future with the help of online connections. For more information about Life in Africa's members visit http://ourlia.blogspot.com/ There are photographs of the WE Center Kampala and related member crafts and activities online at http://www.flickr.com/photos/lifeinafrica/ |
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