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'Facebook for Farmers' in rural China

Like millions of Chinese, Fu Yajun left her hardscrabble life in the countryside for the promise of high wages at a coastal factory town. But the work she found at a Guangdong shoe manufacturer was far from her dreams, and the low and unstable salary barely put food on her table. But a $600 loan changed everything. "We didn't see a bright future working for others," said the middle-school dropout. "After that experience, my husband and I decided to come back home to start something of our own." Fu and her husband turned to Wokai, a U.S. microfinance firm whose name in Chinese means "I start." Wokai provides microloans to more than 350 impoverished farmers in China -- with the funds coming from donors around the world. Nicknamed "Facebook for Farmers," a contributor to Wokai.org can choose exactly where the funds go. Farmers' profiles and photos are posted online and donors choose to whom and how much they give. Fu had init...

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