global P2P microlending movement
Zidisha is a smal microloan organization that has been using an online peer-to-peer direct lending model since 2009. This organization is the first of its kind. A nonprofit peer-to-peer microfinance internet platform that allows people to lend small amounts of money directly to entrepreneurs in developing countries. Pioneering the first online microlending community to connect lenders and borrowers directly across international borders -- overcoming previously insurmountable barriers of geography, wealth and circumstance. The repayment rate is 0.38 percent. So far they’ve distributed about $130,000 in the 2 years since its inception.
More than 100,000 people worldwide have started using Zidisha, pioneering something radically new, continuously learning and adapting our model as they gain experience. Their community is the work of hundreds of volunteers and thousands of lenders and borrowers in every continent, who are fed up with a world that shuts people out of opportunity because of their location. They have many transformed many thousands of lives through the opportunities created by connecting people to people.
Just as importantly, They are proving that it is possible to use technology to bridge the international wealth divide - slowly undermining the paradigm that allocates people in developing countries to an unreachable place.
For the first time in history, we have the technological tools to make geographic barriers irrelevant. Poverty and lack of opportunity arising from geographic location is no longer necessary or tolerable. We are connecting people across the international wealth divide, and the world will never be the same.