Bay Area Microfinance Site Links Donors to Needy Chinese Entrepreneurs
April 13, 2009
A Web site started five months ago by two 25-year-olds has tapped into the San Francisco Bay Area’s population of young Asian professionals to make small loans to Chinese entrepreneurs, the San Francisco Chronicle reports.
Casey Wilson and Courtney McColgan started Wokai.org after meeting in a postgraduate Chinese-language program in Beijing. Wokai, modeled on popular microfinance site Kiva.org, has funneled $25,000 in small loans to 60 rural Chinese borrowers.
Read a Chronicle column on Kiva.org and other pioneers in online social entrepreneurship.
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