Talk:Wokai: Difference between revisions

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		{{hangon}}

		{{Infobox Non-profit
		\| Non-profit_name = Wokai
		\| founded_date = March 2007
		\| founder = Casey Wilson<br/>Courtney McColgan
		\| location = ], ]<br>], ]
		\| key_people = <li>Casey Wilson (])
		\| area_served = ]
		\| focus = Economic development
		\| method = ]
		\| homepage =
		}}

		'''Wokai''' is an organization that allows people to contribute directly to ] institutions in China which in turn lend the money to entrepreneurs in rural China.<ref name="About"></ref> It is a ] ] based in ], with core operations in ], supported by individual donors, corporate sponsorships, fundraising events and grants.<ref name="About"/>

		==How it works==
		Wokai allows accredited ] institutions in China, called "Field Partners", to post profiles of qualified local ]s on its website.<ref name="About"/> Lenders browse and choose an entrepreneur they wish to fund.<ref name="About"/> Wokai aggregates loan capital from individual lenders and transfers it to the appropriate Field Partners to disburse to the entrepreneur chosen by the lender.<ref name="About"/> As the entrepreneurs repay their loans, the Field Partners remit funds back to Wokai.<ref name="About"/> Once the loan is repaid, the Wokai lenders can re-loan it to another entrepreneur, up to a total of three loan cycles.<ref name="About"/>

		Donors' funds are transferred to Wokai through ].<ref name="HelpCenter"></ref> Wokai's Field Partners charge between 15% and 20% interest rates.<ref name="HelpCenter"/> Field Partners use the interest from borrower loans to cover staff salaries, transportation, and operating costs.<ref name="HelpCenter"/>

		==Organization and team==

		Wokai was founded in March 2007 by Casey Wilson and Courtney McColgan after meeting while studying at Tsinghua University in Beijing.<ref name="About"/> It currently has 6 staff members and maintains 3 chapters of local volunteer representatives in New York, San Francisco and Seattle.<ref name="Team"></ref>

		==Publicity==
		* Melinda Liu:
		* Jamila Trindle:

		==Statistics==

		As of July 26, 2009, Wokai has raised $42,516 in loan capital from 424 contributors to distribute to 150 recipients.<ref></ref>
		<!-- BE SURE TO PROVIDE CITED REFERENCES FOR ANY DATA ADDED TO THIS SECTION -->


		==Sample loans==


		*47 year old seeks 4,000 yuan microloan to buy straw as cattle feed to expand cattle raising business

		==References==
		{{reflist}}

		==See also==
		{{Portalpar\|Sustainable development\|Sustainable development.svg}}
		* ]
		* ]

		==External links==
		* - Official web site.
		*Videos:
		**
		**
		]
		]
		]
		]
		]

Revision as of 01:39, 28 October 2010

Wokai
Founded	March 2007
Founder	Casey Wilson Courtney McColgan
Focus	Economic development
Location	Oakland, California, United States Beijing, China
Area served	China
Method	Microcredit
Key people	Casey Wilson (Chief Executive Officer)
Website	www.wokai.org

Wokai is an organization that allows people to contribute directly to microfinance institutions in China which in turn lend the money to entrepreneurs in rural China. It is a 501(c)(3) non-profit organization based in Oakland, with core operations in Beijing, supported by individual donors, corporate sponsorships, fundraising events and grants.

How it works

Wokai allows accredited microfinance institutions in China, called "Field Partners", to post profiles of qualified local entrepreneurs on its website. Lenders browse and choose an entrepreneur they wish to fund. Wokai aggregates loan capital from individual lenders and transfers it to the appropriate Field Partners to disburse to the entrepreneur chosen by the lender. As the entrepreneurs repay their loans, the Field Partners remit funds back to Wokai. Once the loan is repaid, the Wokai lenders can re-loan it to another entrepreneur, up to a total of three loan cycles.

Donors' funds are transferred to Wokai through Google Checkout. Wokai's Field Partners charge between 15% and 20% interest rates. Field Partners use the interest from borrower loans to cover staff salaries, transportation, and operating costs.

Organization and team

Wokai was founded in March 2007 by Casey Wilson and Courtney McColgan after meeting while studying at Tsinghua University in Beijing. It currently has 6 staff members and maintains 3 chapters of local volunteer representatives in New York, San Francisco and Seattle.