Microfinance Powerpoint

Today in Human Geo, we reviewed our PowerPoint. The following information are the notes taken on the PowerPoint and talked by Mr. Schick in class. Microfinance is a general term to describe financial services to low-income individuals or to those who do not have access to typical banking services. Microloans loans people money to help them them get a kick start in a small business that they think will be beneficial to their village or town.
Microfinance helps poor people start what they want to do. It helps small businesses start up and stay running. This helps the local economy it also helps pay for insurance. If you get sued, the microfinance will help it get started again, or if your small business gets damaged, they will provide you the money to get your business back on track so you can start making money again. Microfinance is an opportunity for the less fortunate people to have stuff that they usually would not be able to afford or start up. Microfinance allows poor people to build their assets, for example by getting land, Constructing or improving their homes and purchasing livestock.
Poor people are the ones who are least likely to be helped by regular banks. Problems in developing countries that can be helped by Microfinance. Examples include malaria, drought, and clean water. Then Mr. Schick explained how just because your poor doesn't mean you have welfare. Malaria is a life-threatening disease transmitted by mosquitoes. It was once thought that the disease came from fetid marshes, hence the name mal-aria (bad air). In 1880, scientists discovered the real cause of malaria: a one-cell parasite called plasmodium. Later they discovered that the parasite is transmitted from person to person through the bite of a female Anopheles mosquito, which requires blood to nurture her eggs. Every year, malaria causes 655000 deaths. Every minute, a child dies from malaria. Right now, International Medical Corps is on the ground to combat malaria and help save lives. Doctors are trying to figure out how to make a vaccine for malaria. "an important part of this process is understanding the mechanisms of naturally acquired immunity to malaria." Loans help people with small businesses to get a kick start on what they want to do. They may get funds, structure investments, housing, and help for the economy in small areas near by. With more small businesses, there won't be as many large corporations. This means that wildlife areas in villages will be healthier because of reduces fumes from factories. This means that people will have a better quality of living. Areas that are consumed by large corporations have pollutants in the air and unhealthy living conditions. 
Clients are too poor to pay interest as well as repaying the loan capital, so projects have low or no interest rates. Clients need a large lump sum to restart activities after a conflict, so loan sizes are large (for example, more than one-fifth of annual income). Clients prefer to use the loan for agricultural activities, so projects have long loan terms (six months to one year). Clients have often lost all their assets and have no collateral, so projects use group-based methodologies. Clients need micro-finance to kick-start their businesses, so projects are impermanent. The remit of the organization is to assist the poorest households, so projects target the most vulnerable households. How bout them Vikings.