That’s right. Smart Donation is used by our field partner as interest free loans. . We believe interest is a debilitating mechanism that is counterproductive and hurts some entrepreneurs trying to start a business.
Unlike many of the microfinance platforms out there – who charge interest on the loans they send, our model is entirely interest-free. Interest-based loans further entrench those in need in a vicious cycle of poverty.
We are a donation based crowdfunding platform, which means we are receiving donations from the general-public to contribute to projects of their choice.
Donations made to NuzakiCrowd are sustainable for two reasons:
a) We've built an empowering model as compared to a consumption model. The funds contributed are tied to building a business and allowing individuals and families to stand on their own feet. It gives a means of production vs consumption, where charity is handed out to those in need.
b) The model is also sustainable because although all loans are interest free – there remains a requirement for repayment for smart donation project. Those funds are then taken and further invested into other projects, to help more people lift themselves out of poverty. Through our field partners, who are experts in microfinance you can rest assured your funds are continuing to help more and more people.
Although we appreciate the great work traditional organizations are doing – we’ve come to recognize that donors are frustrated with giving donations that land into the black box. Not knowing the exact project their donation went nor the impact it had.
At NuzakiCrowd, transparency with your funds is a cornerstone of the work we do. We ensure you’re fully aware of the projects your donations are going towards, the impact it has and how it is further helping other people lift themselves out of poverty.
This is our speciality. We ensure that we invest our research, resources and time into understanding microfinance project and the impact they have. Specializing in this field helps us better focus on a model that has a proven track record and is working.
We're always innovating our technology, delivery mechanism, policies and procedures as well as monitoring and evaluation criteria to ensure we have a high level of accountability.