It all began with a gentleman named Muhammad Yunus lending out $27 out of his own pocket to a group of poor craftsmen in the town of Jobra in Bangladesh. This gave rise to what we call micro-lending. That means that the poor can borrow. Think about it yourself, by giving charity, we shrug off our responsibility, failing to realize that charity is no solution to poverty. It merely perpetuates poverty by taking away the initiative away from the poor. Yunus didn’t give charity. He gave a loan of $27. When was this loan due? “Whenever.” Any Interests? No. “I’m not in the money business”, he said.
Yunus’s actions inspired an entire revolution of lending. You have to read his book through his words. Here is a portion of it from Google Books. Being so close to graduation, everybody asks me what my status is on my job search. To those reading, my friends, this is the type of business I want to do. Social business. Like Yunus, I don’t want to be in the money business either.
- ‘To Catch A Dollar’ Documents Success Of Bank For Poor (huffingtonpost.com)
- A success story that started with $27. Genius. (amenaskhan.wordpress.com)
- Film: Grameen Bank for the poor helps US women (seattletimes.nwsource.com)
- Film: Grameen Bank for the Poor Helps US Women (abcnews.go.com)
- Social Business (avicenna2020.wordpress.com)
- Nobel winner Yunus promotes social business (seattletimes.nwsource.com)
- AUC Robert W. Woodruff Library Hosts ‘Father of Micro-Credit’ and Nobel Prize Laureate Muhammad Yunus (prweb.com)
- Nobel Laureate Muhammad Yunus Joins mHealth Alliance Board (prweb.com)
- Meeting with Dr Muhammad Yunus (shanshaxuan.wordpress.com)
- Mitchell J. Rabin: Helping Women Help Themselves Around the World With Micro-Credit: Grameen Bank in Action (huffingtonpost.com)