by Amy Clinton
This post is the first in a new series highlighting developments in the microfinance industry. Our hope is to draw attention to unique products, services, and solutions in the world of microfinance.
At ACCION Chicago we often share stories of clients who have used our loans to strengthen their business and community. We love these stories of hope and success and know that others do too. The stories reach beyond the numbers and statistics, which can definitely impress, to put a face and context to the outcome. Of course, while stories are great, nothing beats meeting a client in person. Boston-based non-profit Investours has tapped into this idea and introduced an innovative and interesting new concept to the microfinance industry: microfinance tourism.
On an “investour,” participants are taken to meet a selection of micro-entrepreneurs, typically internationally, learn about their businesses, and later choose one of the businesses to receive 100% of tour fees in the form of an interest-free loan. While other efforts like Kiva have sought to bridge the gap between micro-entrepreneurs in the developing world and donors in the first world, no one has done it quite as personally as Investours.
Participants are often deeply impacted by meeting and talking with entrepreneurs. Not only is an Investour a socially responsible way to educate oneself; it also provides needed resources to the institutions who finance small businesses. The organization currently hosts tours in Puerto Vallarta, Mexico and Dar es Salaam,Tanzania.
As exemplified by Investours, the microfinance industry is growing in creative ways. As one of the leaders in US microfinance, ACCION Chicago is excited to watch the industry continue to grow both domestically and internationally. We hope that you are as inspired as we are by the success of small business owners when given access to capital, both in our Chicagoland communities and across the globe.
