Elon Microfinance Initiative
About
EMI is an organization that has three main aspects:
1) provide underprivileged small business owners with loans through Kiva
2) complete a capstone microfinance project
3) give back to the community through organization-wide service opportunities
Between these three objectives, EMI offers a way to not only increase your academic knowledge but to use it in a way that benefits those that are much less privileged than we are. Currently, we have loaned out over $4,000 to more than 41 countries and territories. We have defaulted on less than $4. That's a default rate of less than .1%. Over the past twenty years, commercial loans in community banks have had an average default rate of 3%. We believe in what we are doing, and hope that you come check it out!