San Francisco, CA, July 28, 2012 --(PR.com
)-- Created a little over a year ago, Accountants for Social Good (ASG) is a Kiva lending team that has successfully brought CPAs and financial professionals together onto one platform to do social good for the world. Through the process of microlending, ASG has engaged hundreds of firms in bolstering their small business corporate responsibility and exposing their customers to their positive efforts.
Microlending is the process of lending a very small amount of money to entrepreneurs in need so that they can start-up, sustain, or grow their micro-business. Typically, the entrepreneurs who receive these loans have no other source of finances available to them. By providing these entrepreneurs with a micro-loan at a zero percent interest, ASG is guaranteeing that these entrepreneurs are able to receive the loan for the lowest rate possible.
As a Kiva Lending Team, Accountants for Social Good has been able to bring CPAs and financial professionals together to not only help entrepreneurs in need but entrepreneurs in need in similar financial industries.
For example, one recent loan was to a young lady named Mary who was trying to expand her current mobile money transfer business in Kapiri, Central Zambia. As a young innovative self-starter, Mary operates a mobile money transfer business, helping people make money transactions faster and allowing easier access to cheaper rates. After just 9 months in business, Mary became successful enough to even hire another employee. As a borrower on Kiva, Mary was hoping to borrow money to expand her business enough to allow her to move to a permanent building rather than working out of her current booth.
Accountants for Social Good, decided to help fund Mary’s loan, allowing her to reach one step closer to her goal. Her loan has now been fully funded through Kiva, and she has even made her first repayment for the loan this July. ASG saw this loan as a perfect match for its members, as financial gurus themselves, to help a fellow financial entrepreneur in need.
With over a hundred members, Accountants for Social Good has lent a total of $121,000 helping out more the 4300 entrepreneurs worldwide, many of whom are other financial professionals in third world countries. Currently ranked 6th place for total amount lent under the business category, Accountants for Social Good shows no signs of slowing down and continues to strive towards its goal of bringing CPAs and financial professionals together to do social good for the world.