On this internetplatform you can donate or grant credits. As you see, projects – procured by serveral development help partner organizations – are presented here. You can choose, which project you would like to support. You can see the progress of those with your help financed work in continuity (blogs or personal contact). The money you give will hand over directly to the people in need by an established Microfinance Institution (MFI or MFO). Beside this of course there is the possibility to donate for projects, which can not be good supported by the concept of microfinance. Those donation we will transfer to professional foreign-aid-organizations (like WorldVision, Diakonie, Caritas, Miserior, GTZ, DED etc.). A maximum of transparency is given here as well (projectblogs).
GlobalSpring will transfer free-of-interest-loans for starting or already working mini- or microbusiness with financial requirements to MFIs whom will stand beside the germane people with excellent knowhow and care for repaiment of credits. Via our organization you will receive in regular terms your rates, as far as you not decide to reinvest those money immediately.
Lender or lender-groups can take over a whole project in all. You can start or join a group or different groups by announcing on your profile or contact a group which already exists or is starting up by somebody else as announced at this persons profile. By this way it is possible to participate with smaller amounts to different undertakings. This can reduce the risk of an los additional.
How can I take over a project and how works the procedure of payback?
Please select as single person or group a project and mail us, that you want to finance this (Please dont forget to notice the project number!). We confirm or indicate to you an alternative one. (It is possible that different people apply for a project before we can react and cancel the profile. In such cases the project goes to the person, whose email we received first.) If we confirm a project to you, you can do the payment by PayPal or bank transfer. If you want to support the work of GlobalSpring additionally to the credit fee add an amount and notice this.
Please do not forget to note your details for repaiments. The interval of repayment rates is up to the respective MFI. We will inform you, how it will be done in your case. Basically it saves costs to transfer in bigger amounts. Up to now the term is between one to six months.
Please do not forget to note your details for repaiments. The interval of repayment rates is up to the respective MFI. We will inform you, how it will be done in your case. Basically it saves costs to transfer in bigger amounts. Up to now the term is between one to six months.
How can people in need come in contact with GlobalSpring and who is a candidate for a credit?
Microfinanceorganizations (MFO or MFI) working in developing countries have a very good knowledge regarding the spezial regional environmental and economical conditions, administrative and legal matters, the mental structure of the people requiring help. They inform them about the possibilities of microfinance. They work individualy with potencial help-receivers, proofing business concepts towards their capacity or inspire and help by elaborating and improving those concepts. As well appropriate running business will be adviced.
Projects which require a support by donations, will be checked if there is no possibility to realizing by the regular entrepreneurial market, its urgency, an effective use of finances, an extensive involvement of indigenous people by the execution, the capacity in context with the regional respectively communal circumstances. Organizations with good reputations will present projects detailed regarding this criterions.
So givers can be furthest assured, their investment will be generative.
Projects which require a support by donations, will be checked if there is no possibility to realizing by the regular entrepreneurial market, its urgency, an effective use of finances, an extensive involvement of indigenous people by the execution, the capacity in context with the regional respectively communal circumstances. Organizations with good reputations will present projects detailed regarding this criterions.
So givers can be furthest assured, their investment will be generative.
How will be worked with the receivers of help?
Microfinance Organizations (MFO) organize people in groups. Inside those groups everybody will be supported individualy. Any group has a leader and meet regulary with an employee of a MFO, who is in charge with organizing the credit matters as well and comes for example once a week to advice and encourage, get information about progress and difficulties and get returning rates of the loans.
The fact that received money is to pay back creates a very good training field for disciplined entrepreneurial behaviour. Additional members get approved by working or take part in the group. Who shows reliability and engagement here, will very probably also be careful and responsible with borrowed finances. On the other hand already supported group members are under a good kind of pressure, that eventualy failure of them might block help for new requiring members. Canditate for bigger amounts of credits can only be, who is approved already by good dealing with smaller amounts.
The fact that received money is to pay back creates a very good training field for disciplined entrepreneurial behaviour. Additional members get approved by working or take part in the group. Who shows reliability and engagement here, will very probably also be careful and responsible with borrowed finances. On the other hand already supported group members are under a good kind of pressure, that eventualy failure of them might block help for new requiring members. Canditate for bigger amounts of credits can only be, who is approved already by good dealing with smaller amounts.
Can givers also profit?
In a wider perspective givers profit for sure, because any Euro or Dollar good invested in – for example – Africa, ist also an investment in Europe or America, in a global-society view as well as economical. People become – even if first very peripheral – productive participants of the economical circle.
GlobalSpring will basically permanent recommend donations or free of interest loans. But in a longer run it may be possible, to lend with a smaller interest rate, means somebody may be do something good and gain at the same time, but this would have to be organized in a way where no additional costs for lenders would be created. But well – thats a real challenge!
In fact it should not be your first intention to make a good business. For us microfinance is a amazing good way of foreign aid, because it is very effective, requiring thinking and doing in the most economical way, coaching mini- and micro-entrepreneurs to do so. Its simple - money dont get loss, but can become useful for other people after it helped the one before.
GlobalSpring will basically permanent recommend donations or free of interest loans. But in a longer run it may be possible, to lend with a smaller interest rate, means somebody may be do something good and gain at the same time, but this would have to be organized in a way where no additional costs for lenders would be created. But well – thats a real challenge!
In fact it should not be your first intention to make a good business. For us microfinance is a amazing good way of foreign aid, because it is very effective, requiring thinking and doing in the most economical way, coaching mini- and micro-entrepreneurs to do so. Its simple - money dont get loss, but can become useful for other people after it helped the one before.
How many percent of the amount I lend the receiver will get?
Considering the amount of the credit it is 100%! An additional amount (separate accounted in every profile) must be charged to cover the transfer costs and the costs of operating this platform. Having regard to the german law we must charge the MFI which is attending the respective project and not you (otherwise we were treated like a financial service provider which makes everything unnecessary complicated).
For the MFI however it is problematical to bear and they had to delegate it to the lender. Thats why we ask you to assume this fee. The amount goes to the MFI and the MFI will assign it to GlobalSpring.
For the MFI however it is problematical to bear and they had to delegate it to the lender. Thats why we ask you to assume this fee. The amount goes to the MFI and the MFI will assign it to GlobalSpring.
Has the borrower to pay interest?
Yes – not to GlobalSpring but to the MFIs, working with the people. This work of course must be financed. But our partners have good reputations from serveral sides and the contact to the receivers of help is given in continuity. That guaranty for a maximum of transperancy as well as a succesful foundation and payback. However - a little risk remains, you, dear helper, should mind that! In the other hand it means for the borrower an assurance against dept overload. If they fail after all efforts, they will not fall in the hands of usurers.
How is GlobalSpring financed?
As mentioned the in any profile separate accounted amount is this how you particulary can help to finance GlobalSpring, cause this sum is similar to the one the respective MFI will be charged by GlobalSpring.
However, financing the project is still not easy and any support by donations is very welcome!
However, financing the project is still not easy and any support by donations is very welcome!
What organizations does GlobalSpring partner with?
GlobalSpring aims to build a network of partnership with regional engaged MFIs in third world countries and of course where expedient as well with other established development organizations. Regarding the MFIs its relatively easy to assure about there good reputation via established institutions like UNCDF, PlanetFinance, Grameen, UNITUS, MIXMARKET or also Globefunder or Kiva. Explore the list of partners on this website!
How about the volunteer program?
GlobalSpring plans to build an extensive voluntary program. Appropriate gifted, interested, qualified young people are invited to join. They will work together with a partner MFI, handle tasks given by them, take part by the professional care for the people in need. To those people they will also build a personal relationship and document together with them something about their lives and of course about the progress in their business (blogs). GlobalSpring or the MFI may support volunteers by finding a good and cheap accomodation. Basically they are responsible to organize and finance their transport and stay by themselves. They do not have to pay anything to GlobalSpring.
About the legal status of GlobalSpring
In many countries there are very restrictive and complicated duties or laws for finance services. Up to now we can not effort to get involved in such legal matters and this is also not necessary to serve in the way we presently want to do.
GlobalSpring refuses presently any responsibility or commitment for the credit-payback. All we presently guarantee is - if we are entrusted with this - the transfer of money from lenders to organizations which work with the people, to whom the financial help is adressed and the transfer from payback rates we receive from a MFO to the lender, who the loan has given. Any lender is strongly request to mind the risk of a loss of the credit he or she gave, respectively to inform her- or himself about it more detailed.
GlobalSpring refuses presently any responsibility or commitment for the credit-payback. All we presently guarantee is - if we are entrusted with this - the transfer of money from lenders to organizations which work with the people, to whom the financial help is adressed and the transfer from payback rates we receive from a MFO to the lender, who the loan has given. Any lender is strongly request to mind the risk of a loss of the credit he or she gave, respectively to inform her- or himself about it more detailed.
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