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Funding for this project was canceled on April 28, 2011.
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Wokai (我开 - “I start” in Mandarin) is a 501(c)(3) nonprofit organization dedicated to helping individuals in rural China lift themselves out of poverty through microloans. Our platform connects you and other contributors around the world to individual farmers and microentrepreneurs who are in need of small loans.
Despite China's economic boom over the past decades, over 200 million rural Chinese still live on less than $1.25 USD a day. Inequalities have developed and are growing larger by the day. The "have nots" in rural areas continue to have limited access to basic financial services, healthcare, education and environmental education.
We at Wokai believe that the extensions of microloans in rural China is the best solution to correct these inequalities. Small loans offer a “hand up” and not a mere “hand out” to those in need—thus creating the right incentives for these farmers to work hard and learn how to help lift themselves out of poverty.
Over the past 6 months, we’ve raised more than $50,000 in loan capital from over 400 contributors. In addition, our executive team and full time staff in Oakland, CA and Beijing constantly monitor our on-site field partners to ensure that your contributions are properly directed. The extensive due diligence that we conduct on our field partners and that they, in turn, conduct on each recipient, has resulted in an over 98% repayment rate. Furthermore, because of our sustainable model, the money that you contribute will continue to be used as loan capital as long as our borrowers repay!
Make a difference right now.
Visit www.wokai.org and contribute today!
