Shane Hoover WP1 revision by Shane Hoover https://padlet.com/minihoover09/bmb2x1mw7y3js636 Made with charm en-us 2021-06-03 22:52:00 UTC 2021-06-03 23:33:29 UTC hello@padlet.com Shane minihoover09 https://padlet.com/minihoover09/bmb2x1mw7y3js636/wish/1583877818 And all of you other listeners out there, you too can get into the Microfinance game and start your own business in hopes to one day become a millionaire. ]]> 2021-06-03 23:20:20 UTC https://padlet.com/minihoover09/bmb2x1mw7y3js636/wish/1583877818 Ryan minihoover09 https://padlet.com/minihoover09/bmb2x1mw7y3js636/wish/1583878340 wow I have learned so much that I might have to go make my own microfinance company somewhere!]]> 2021-06-03 23:20:50 UTC https://padlet.com/minihoover09/bmb2x1mw7y3js636/wish/1583878340 shane minihoover09 https://padlet.com/minihoover09/bmb2x1mw7y3js636/wish/1583879045  that is the overall goal for a company, to be self sufficient, this means that the company has been able to get enough customers and credibility to give out and have all of their loans paid back with interest one way or another. ]]> 2021-06-03 23:21:14 UTC https://padlet.com/minihoover09/bmb2x1mw7y3js636/wish/1583879045 ryan minihoover09 https://padlet.com/minihoover09/bmb2x1mw7y3js636/wish/1583879483 So what does it mean when a mfi is finally able to be self sufficient?

]]> 2021-06-03 23:21:35 UTC https://padlet.com/minihoover09/bmb2x1mw7y3js636/wish/1583879483 Shane minihoover09 https://padlet.com/minihoover09/bmb2x1mw7y3js636/wish/1583879840 Since the MFIs are considered non formal they can basically use whatever methods of loans they deem necessary. They are able to do this by disbursing small loans to the poor, using various non-traditional loan arrangements such as loans without collateral, group lending, collateral subsidies and so much more! ]]> 2021-06-03 23:21:51 UTC https://padlet.com/minihoover09/bmb2x1mw7y3js636/wish/1583879840 Ryan minihoover09 https://padlet.com/minihoover09/bmb2x1mw7y3js636/wish/1583880113 Well how come these MFIs are able to offer loans to these customers who were considered non bankable by other companies.]]> 2021-06-03 23:22:05 UTC https://padlet.com/minihoover09/bmb2x1mw7y3js636/wish/1583880113 shane minihoover09 https://padlet.com/minihoover09/bmb2x1mw7y3js636/wish/1583880461 yes Ryan you are spot on!]]> 2021-06-03 23:22:22 UTC https://padlet.com/minihoover09/bmb2x1mw7y3js636/wish/1583880461 Ryan minihoover09 https://padlet.com/minihoover09/bmb2x1mw7y3js636/wish/1583880999 I heard that recently microfinance institutions have become more and more profitable because of the vast monopoly of people looking for small loans.  So because more people are hearing about them the market is growing but it is becoming harder for people to get new customers]]> 2021-06-03 23:22:50 UTC https://padlet.com/minihoover09/bmb2x1mw7y3js636/wish/1583880999 Shane minihoover09 https://padlet.com/minihoover09/bmb2x1mw7y3js636/wish/1583881590 Wow great question! If an MFI is only focused on being able to give everyone a loan and are neglecting outreach, they are likely to be unprofitable because they are unable to cover the excessive costs of reaching the extremely poor. ]]> 2021-06-03 23:23:16 UTC https://padlet.com/minihoover09/bmb2x1mw7y3js636/wish/1583881590 Ryan minihoover09 https://padlet.com/minihoover09/bmb2x1mw7y3js636/wish/1583881950 Well what about if it is the other way around?]]> 2021-06-03 23:23:33 UTC https://padlet.com/minihoover09/bmb2x1mw7y3js636/wish/1583881950 Shane minihoover09 https://padlet.com/minihoover09/bmb2x1mw7y3js636/wish/1583882398 Well that is the golden question, because hopefully a company will get enough customers to bring in enough income to stay afloat, but if a company focuses too much on being able to make their money back, their outreach will be compromised meaning less people will be taking out loans with them. ]]> 2021-06-03 23:23:54 UTC https://padlet.com/minihoover09/bmb2x1mw7y3js636/wish/1583882398 Ryan minihoover09 https://padlet.com/minihoover09/bmb2x1mw7y3js636/wish/1583882757  Wow, interesting! So how do these companies make money by doing this, because, if they aren't making their money back from the loans, how are they able to stay in business? 
]]> 2021-06-03 23:24:14 UTC https://padlet.com/minihoover09/bmb2x1mw7y3js636/wish/1583882757 Shane minihoover09 https://padlet.com/minihoover09/bmb2x1mw7y3js636/wish/1583882960 A MFI is a company that provides small scale loans to poor, low income people and communities, who are considered non-bankable. These are called microloans. The microloans can be used for almost anything under the sun as long as it has the potential of making back the money to pay the loan. For example, someone in sub saharan africa could take out a small loan probably under $100 to buy a sewing machine and work to pay it back and then once it has been paid back it is completely their own]]> 2021-06-03 23:24:25 UTC https://padlet.com/minihoover09/bmb2x1mw7y3js636/wish/1583882960 Ryan minihoover09 https://padlet.com/minihoover09/bmb2x1mw7y3js636/wish/1583883621  Well now Shane, could you please explain to me what a microfinance institution is?]]> 2021-06-03 23:24:52 UTC https://padlet.com/minihoover09/bmb2x1mw7y3js636/wish/1583883621 Shane minihoover09 https://padlet.com/minihoover09/bmb2x1mw7y3js636/wish/1583883916 Today our topic will be Microfinance institutions in sub-saharan africa. I came across this topic while sitting in my Human Geography class in high school. This was very interesting to me so I decided to read up on it in more depth!]]> 2021-06-03 23:25:08 UTC https://padlet.com/minihoover09/bmb2x1mw7y3js636/wish/1583883916 Shane minihoover09 https://padlet.com/minihoover09/bmb2x1mw7y3js636/wish/1583884254 wow thats amazing ryan, I seriously wonder how you found these things out!]]> 2021-06-03 23:25:26 UTC https://padlet.com/minihoover09/bmb2x1mw7y3js636/wish/1583884254 Ryan minihoover09 https://padlet.com/minihoover09/bmb2x1mw7y3js636/wish/1583884529 did you hear that a woman won $125,000 while pumping her gas the other day and also recently rob gronkowski, a nfl tight end, caught a football from a helicopter completing the longest football pass ever caught at U of A]]> 2021-06-03 23:25:41 UTC https://padlet.com/minihoover09/bmb2x1mw7y3js636/wish/1583884529 Shane minihoover09 https://padlet.com/minihoover09/bmb2x1mw7y3js636/wish/1583885765 Hey everyone, welcome back to this podcast where today my good friend and I Ryan will be talking about some seriously interesting stuff! But first what has been going on in the world as of recently. ]]> 2021-06-03 23:26:46 UTC https://padlet.com/minihoover09/bmb2x1mw7y3js636/wish/1583885765