Just a quick update on the event we posted about earlier in the week, here’s a flyer from the Wokai folks
The Wokai Los Angeles Chapter is inviting anyone in the Los Angeles area to come by this Thursday to a special Cocktail event at The Green Door. Wokai is the first online person-to-person microfinance lending platform in China and our goal is to empower the impoverished in rural China to lift themselves out of poverty. We are looking to start a Chapter in Los Angeles, and this Cocktail event is open to anyone who is interesting in learning more about our organization as well as microfinance in China. It is a very casual event, a great opportunity for those interested to meet our team, meet others who are interested in microfinance, and also learn about how they can help out. Not to mention, open-bar vodka from 9:30-10:30!
The event details are:
Thursday, December 17
9:00 PM
The Green Door
1429 Ivar Avenue
Los Angeles, CA 90028
No cover, Open-bar vodka 9:30-10:30
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If you have any questions or would like to learn more, feel free to contact Jason Phan (jason.phan@wokai.org)
More about Wokai
Wokai is a U.S. 501(c)3 non-profit organization dedicated to alleviating rural poverty in China. Wokai’s unique online platform (www.wokai.org) connects contributors around the world directly with individual farmers and micro-entrepreneurs in rural China in need of small loans. Our goal is to empower the impoverished to lift themselves out of poverty. Over the past year, we’ve raised over $120,000 in loan capital and have been featured on Time, MSNBC, and Newsweek.
Why China?
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, and the “have nots” in rural areas continue to have limited access to basic financial services, healthcare, education and environmental education.
How Wokai Works
Wokai.org is a platform that allows anyone to fund microloans to rural Chinese individuals through a credit card. Contributions can be made for as little as $10 and are tax-deductible. Contributors are able to track the borrower’s progress and will be able to redistribute their contributions after the borrower repays. While Chinese regulations currently prevent us from being able to repay foreign lenders, all contributions are used perpetually as microloan capital and are continually recycled. Our sustainable model greatly amplifies the impact of any single contribution.
