

Stop charging fees on Zidisha.org microloans


Stop charging fees on Zidisha.org microloans
The Issue
Zidisha.org is a nonprofit community that helps motivated people in some of the world's most impoverished spots work their way out of poverty through microloans.
The loans are funded by individual web users worldwide. We connect individual lenders and borrowers and eliminate local intermediaries, which typically charge borrowers as much as 50% - 100% in interest. Bypassing the intermediaries allows our borrowers to keep more of their profits, building businesses that generate more income to feed their families and keep their children in school.
It's a win-win solution for everyone who participates. There's just one problem: PayPal charges exorbitant fees on our funds transfers, taking a big cut out of the amounts that reach our borrowers: on average, $17 for a $500 loan. That's enough to pay a child's school fees for an entire semester in Kenya.
Our lenders work hard for their money, and deserve to see the full amounts they contribute go to the disadvantaged individuals they're helping.
Our borrowers are fighting against overwhelming odds to build better lives for their families. PayPal can remove at least one obstacle from our borrowers' paths by stopping the transfer fees charged on their loans.
PayPal provides free payment transfers to other customers, but has refused to extend the same to Zidisha. By persuading PayPal to stop charging fees on Zidisha.org microloans, we can end this injustice and deliver life-changing resources to the people who need it most.
The Issue
Zidisha.org is a nonprofit community that helps motivated people in some of the world's most impoverished spots work their way out of poverty through microloans.
The loans are funded by individual web users worldwide. We connect individual lenders and borrowers and eliminate local intermediaries, which typically charge borrowers as much as 50% - 100% in interest. Bypassing the intermediaries allows our borrowers to keep more of their profits, building businesses that generate more income to feed their families and keep their children in school.
It's a win-win solution for everyone who participates. There's just one problem: PayPal charges exorbitant fees on our funds transfers, taking a big cut out of the amounts that reach our borrowers: on average, $17 for a $500 loan. That's enough to pay a child's school fees for an entire semester in Kenya.
Our lenders work hard for their money, and deserve to see the full amounts they contribute go to the disadvantaged individuals they're helping.
Our borrowers are fighting against overwhelming odds to build better lives for their families. PayPal can remove at least one obstacle from our borrowers' paths by stopping the transfer fees charged on their loans.
PayPal provides free payment transfers to other customers, but has refused to extend the same to Zidisha. By persuading PayPal to stop charging fees on Zidisha.org microloans, we can end this injustice and deliver life-changing resources to the people who need it most.
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Petition created on July 5, 2012