Steemit as a platform for microfinance.

In many countries, poor entrepreneurs are struggling to find $100 or $200 to develop their business.
Microfinance Institutions (MFI) has developed important platforms.

Kiva.org is probably the most popular of them.

51give, Bank Raykat Indonesia, Brac, Grameen Bank and Kiva microfunds where among the biggest institutions in 2016.
https://www.investopedia.com/articles/insurance/090116/5-biggest-microfinance-companies-bbrijk.asp

Steemit has all the qualities to become a huge microfinance institution :

• Steemit is available on mobile via esteem and other app

• Transfer of steem is free

• But of course the biggest quality is that a borrower of $100 steem can pay his loan back partly or fully by publishing interesting articles. The entrepreprener can post a monthly article about his business or a small video about the problems he is encountering and the lender could upvote his post and help the borrower to pay back his loan ! This is an enormous advantage, transforming the loan into a negative interest loan. You have to payback less money that you initially borrowed.

So what are the constraints for Steemit to become a microlanding platform ?

• It requires an entreprener to pull the cart.
• Funds to start the business. The software and hardware are already available. What is missing is marketing and people on the ground to promote the Steemit microlanding platform. Partnership with already existing microfinance platforms could be set up.
  MMFI will lend the money in fiat, as usual and borrowers could pay back there loan on steemit.

A MFI could invest $ 100,000 n Steem Power and upvote the post of their clients who have problems to pay back. With the future increase in Steem, the initial investment would be very profitable for the FMI f they can make the first investment when the value of Steem is low ( around $1?)

What would be the initial capital required to start this business ?

I will write a short road map and contact some FMI, if 2 or 3 of them wants to invest in Steemit, we can teach them how to use Steemit.
Then they have to train their customers. And eventually equip them with mobile, internet connection and solar power to load their batteries.

This will be my business idea for February 2018.

More info on Microfinance and credit image:
https://www.microfinancegateway.org/