Young Social Entrepreneurs Launch Lumana Credit

According to U.S. News & World Report columnist Kimberly Palmer, many young idealists are starting nonprofits. Oftentimes, they are "disillusioned by the bureaucracy of large, established organizations." They want to make a difference in their own way and don't think that lack of experience should keep them from doing something good.

Honestly, who needs experience?

Which is just what Sammie Rayner thought. A 2009 graduate of University of Washington's Foster School of Business, she had a total of four months' work experience prior to founding and becoming the executive director of the organization Lumana Credit, which she started last year with $3,000 and a plan to provide micro-credit loans to the villagers of Atorkor in Ghana. In partnership with the Atorkor Development Foundation, she trained 30 small businesses in the village on leadership and management, basic customer service and profit calculation. She then provided them small loans.

With a launch party on July 23, the organization has officially set sail, a group of optimistic recent grads at the helm. The organization's mission is "to build stronger communities in Ghana through empowering rural and underserved populations with the necessary tools for successful entrepreneurship." Lumana's niche is rural micro-lending, which its Website identifies as a neglected area of the micro-credit marketplace.

The loans the group provides are $100 to $500, which can be a lifeline for village-level entrepreneurs who don't have access to banking systems. Last year's 30 recipients are on track to receive a second round of loans, and as the organization launches, its efforts will expand substantially. A team of seven Lumana staff people are traveling to Atorkor this summer with a goal to "collaborate with locals and create a sustainable development model that will help ensure the future economic independence of these communities."

Image courtesy of Lumana Credit.