Micro-loans from Singapore-based Remarkable Innovation will help entrepreneurs in the world’s poorest nations. SINGAPORE, June 13th, 2008 – Local technology advisory firm Remarkable Innovation is putting its reserve funds to good use by making loans to third-world entrepreneurs through visionary website Kiva.org. Endorsed by well-known figures including former US president Bill Clinton, Kiva allows “investors” to finance loans for people starting or expanding a business in the world’s poorest countries.
So far, Remarkable Innovation has already made loans to clothing and food vendors in Uganda and Tanzania, as well as a flower growing business in Cambodia. “Starting a business anywhere is difficult, but in Singapore we’re very lucky to have so many sources of funding” says Remarkable Innovation Managing Director Dr Mark Reilly. “Government grants, bank loans and private investment aren’t always available in the developing world. Kiva is doing a great job filling that gap.”
Remarkable Innovation specialises in advising investors on technology deals, so they took a methodical approach to investing in Kiva, even going so far as to assign a researcher to find out more about the micro-loan concept.
Now, having discovered the benefits micro-loans can bring, the company is encouraging others to follow their lead: “Most businesses have a bit of money sitting in a corporate account unused and earning very little interest. Why not put it to some good?” says Dr Reilly.
About Remarkable Innovation:
Remarkable Innovation provides technical advisory services to clients investing in technology.
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