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Nathan Bernard's Fundraiser:

Inner Mongolia Microcredit

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BENEFITING: ACCION

Nathan Bernard

THE STORY:

Who: ACCION Microfinance China (AMC) began its operations on December 11th, 2009 as the first foreign-funded micro-credit company in Inner Mongolia. 

AMC is a partner of ACCION International. ACCION is a private, nonprofit organization with the mission of giving people the financial tools they need—microenterprise loans, business training and other financial services—to help work their way out of poverty. 

What: AMC seeks to provide its micro-entrepreneur clients with the following services:

Working Capital Loans: Loans that provide money for a small business to enhance operations.  An example is paying the rent for a newly opened store.

Fixed-Asset Loans: Loans that purchase a material good for the borrower. An example is to buy a sewing machine for a seamstress.

Where: AMC currently operates in the Chifeng Prefecture of Inner Mongolia. Chifeng is located in the southeastern region of Inner Mongolia.

Why: In Inner Mongolia, 40% of the population lives below the poverty line despite the unprecedented growth of the Chinese economy.

Year

Loan Portfolio

Active Borrowers

Active Staff

PAR > 30 Days

  January 2011

       $3,571,000

          600

         33

      0.73%

 

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Donor Comments

Nathan Bernard

Nathan Bernard

DONATION: $20

6 years ago