Education microfinance service Vittana.org (see earlier coverage about Vittana) now enables lenders to relend directly. Lenders no longer need to go through Paypal for every payment and repayment.
CEO Kushal Chakrabarti says: “Today, I have the honor of announcing that, as of last week, Vittana lenders had given over 200,000 US$ in loans to hundreds of young people who want to become engineers, policemen, biologists and much more.”
Vittana (sea earlier coverage ‘Education microfinance – Vittana funds students worldwide via p2p lending‘) has published the following video, where students that got loans through Vittana tell their story.
Currently Vittana lists 11 open loan listings.
US based non-profit Vittana.org wants to use the power of p2p lending to bring student loans to the developing world.
It works like Kiva. For as little as 25 US$ a lender can hellp to fund a loan. Vittana partners with local MFIs who evaluate students for past academic achievement, commitment to success, and ability to repay.
All 3 listed loans in Paraguay are already fully funded, but I intend to fund loans as soon as new loan applications are listed.
