Fremont Teen Microlender Gets Shout-Out from President Obama

Seventeen-year-old William Kim of Mission San Jose High School got props from President Obama yesterday, for founding a micro-finance nonprofit that helps young entrepreneurs start their own businesses. “You know, he’s raising the money doing what he loves,” Obama said, in a soundbite that reappeared on KQED this morning. “Through dodgeball tournaments and capture the flag games.” According to the KQED story, Kim found out about microfinance from a critical reading question on an SAT practice test. So far his company, Happy Happy Day Microfunds, has doled out given small loans to two other teenagers. Oakland Military Institute alum Erika Simmons will use her $100 loan to start a beading company, Everyday Beauty, while San Jose State student Huong Chen will use her $200 loan to start an animation business.

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