How I Built This with Guy Raz HIBT Lab! Tala: Shivani Siroya
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Nov 17, 2022 Shivani Siroya, Founder and CEO of Tala, revolutionizes microfinance by providing loans to underserved entrepreneurs, having disbursed over $3 billion globally. She shares her journey from the UN to launching Tala and discusses innovative loan assessment methods that empower individuals, especially women. Highlighting the success stories of local entrepreneurs, she illustrates how accessible credit can transform lives. The conversation also dives into unique repayment strategies and Tala’s commitment to balancing social impact with profitability.
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Microfinance Research in Africa
- Shivani Siroya conducted microfinance research for the UN Population Fund across Sub-Saharan Africa, including Malawi, Ghana, and Kenya.
- Her research focused on how individuals used their money and if microcredit improved their quality of life.
Seema's Story
- Shivani Siroya met Seema, a tile and jewelry maker in Chennai, who needed capital to expand her businesses.
- Despite showing promising financial behavior, Seema was denied loans by traditional lenders.
Becoming the Lender
- Shivani Siroya decided to lend Seema a few hundred dollars from her own savings after she was denied by traditional lenders.
- She developed a risk calculation based on her firsthand observations of Seema's financial activities.