Wokai delivers an internet microfinance platform that allows individuals to provide Chinese microentrepreneurs with loan capital. Our organization acts as an intermediary in this process, transferring funds from contributors abroad to microentrepreneurs in China through our field partners.
Who does Wokai support?
A typical Wokai microentrepeneur is a female rural inhabitant, living on less than $1/day. Her microfinance loan, ranging from $150-$300 dollars, provides her with the capital to start a small business. Her business varies by location, raising sheep in a rural grassland or operating a small fruit stand in a city center.
With her income, she accumulates savings, which allows her to allocate money towards long-term investments like education and health. By the end of her loan cycle, she has experienced increased financial independence, bolstered self-confidence, and a strengthened sense of community.
There's only a few old school touristy, knick knack shops left in Chinatown on Mott Street. In the coming few years, Chinatown will rapidly change even more than the last two. Soon enough, the blocks will be lined with refaced buildings and condos that won't show the slightest memory of what character it used to have (as if it hasn't been happening already).
