Since 2009, Spartan Global has distributed over $50,000 in non-interest loans - Over 99% of which have been repaid.
Spartan Global Development Fund is a student-run initiative at Michigan State University. A 501(c)(3) nonprofit organization, Spartan Global consists of students, professors, and alumni. Members work to expand awareness and support for microfinance while building lasting partnerships in the quest for permanent solutions to global poverty. We aim to educate, inspire, and enable tomorrow’s agents of global change by raising funds locally and disbursing them to aspiring entrepreneurs throughout the developing world.
Microfinance goes beyond philanthropy—it is a powerful, sustainable tool for social and economic transformation. In the developing world, where banks are unwilling to extend credit, Spartan Global offers opportunity to those who have been traditionally excluded from financial resources. Without access to loans, savings, or other basic services that are often taken for granted in the United States, it is nearly impossible for people to break free from the cycle of poverty. While philanthropy is able to offer temporary solutions, microfinance provides a foundation for systemic change in impoverished communities.
Spartan Global maintains a loan portfolio on Kiva to connect with hundreds of funding agencies. Through Kiva, we have distributed over 2,000 loans to individuals and cooperatives in 67 countries.
Our team profile can be viewed here.
Microfinance is the general term describing financial services offered to those living below the poverty line who would otherwise not have access to such resources. It includes microsavings accounts, micro insurance, and microloans, which are small loans ranging from $100 to $3,000 made to entrepreneurs in developing countries. Our interest-free loans empower the poor, and give them the ability to improve the quality of their lives and the lives of their families and communities. With an increased income, they are able to invest in education, their businesses, and their future.
Spartan Global also seeks partnerships with other organizations. Through our field partners, we undertake new investment projects that directly reach those in need of microfinance services. Past partnerships have included Esperanza en Acción and As Green As It Gets.