Vittana

The organization cooperates with microfinance companies of countries where loans are issued, which in turn allows us to take into account the peculiarities of the market of these countries. Vittana does not use the classical microfinance model of joint group responsibility , when several people take a loan and are responsible for each other. In the Vittana model, his mother (or another close relative) becomes the borrower of the borrower. Most of the “best” borrowers of the organization are the children of former borrowers of those MCOs with whom Vittana works, since the financial information of their clients' families is available to them. Vittana also often does not have major lenders, so it uses the concept of equal lending , when anyone can give their amount of money to the needy and thus become one of its lenders ^[3] . The loan amounts from $ 200 to $ 1500, and each of the lenders can contribute a part to the loan, ranging from $ 25 and up. A student can repay his loan after graduation and being employed. According to statistics, the repayment of loans is 97% ^[2] .

Initially, within two years of the appearance, Vittana collaborated with Kiva . During her work, Vittana has collaborated with the Clinton Global Initiative , Frog Design , the Grameen Foundation , Hope International , Lex Mundi , Orrick , Perkins Coie , Pop Tech , Unitus , Brigham Young University and the University of Washington . Also, the Vittana initiative was supported by Amazon.com ^[4] . In order to provide an opportunity for loans to as many students from developing countries as possible, Vittana cooperates with many microfinance organizations, creating student microfinance programs in collaboration with them. Partners are responsible for meeting with students, issuing loans to them, as well as collecting payments.

The organization has 35 partners in 17 countries ^{[1] [5]} :