Tiny Loans Can Change Lives
Thursday, December 11, 2008 at 08:32PM I just made a loan to someone in the developing world using a revolutionary new website called Kiva (http://www.kiva.org/). This is my second Kiva loan.
You can go to Kiva's website and lend to someone in the developing world who needs a loan for their business - like raising goats, selling vegetables at market or making bricks. Each loan has a picture of the entrepreneur, a description of their business and how they plan to use the loan so you know exactly how your money is being spent - and you get updates letting you know how the entrepreneur is going.
The best part is, when the entrepreneur pays back their loan you get your money back - and Kiva's loans are managed by microfinance institutions on the ground who have a lot of experience doing this, so you can trust that your money is being handled responsibly. I've been paid back nearly 80% of my original loan so far.
I just made a loan to an entrepreneur named UWINEZA Marie Claire in Rwanda. They still need another $300.00 to complete their loan request of $925.00 (you can loan as little as $25.00!). Help me get this entrepreneur off the ground by clicking on the link below to make a loan to UWINEZA Marie Claire too:
http://www.kiva.org/app.php?page=businesses&action=about&id=78442
I just checked the site again and found out that this entrepreneur's request has been fully funded, but there are many others waiting for just a little help so they can better support themselves and make an important difference in the lives of their families and neighbors.
It's finally easy to actually do something about poverty - using Kiva I know exactly who my money is loaned to and what they're using it for. And most of all, I know that I'm helping them build a sustainable business that will provide income to feed, clothe, house and educate their family long after my loan is paid back.
Join me in changing the world - one loan at a time.
Thanks!
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What others are saying about www.Kiva.org:
'Revolutionising how donors and lenders in the US are connecting with small entrepreneurs in developing countries.'
-- BBC
'If you've got 25 bucks, a PC and a PayPal account, you've now got the wherewithal to be an international financier.'
-- CNN Money
'Smaller investors can make loans of as little as $25 to specific individual entrepreneurs through a service launched last fall by Kiva.org.'
-- The Wall Street Journal
'An inexpensive feel-good investment opportunity...All loaned funds go directly to the applicants, and most loans are repaid in full.'
-- Entrepreneur Magazine
Reader Comments (2)
Great post. I have visited Kiva site several times and read a couple articles about it but have not made a loan yet. Every time I see something about it I wonder if it is possible to do the same thing with small businesses in the community.
Howard, this microfinance idea is so revolutionary and effective that it would be wonderful to see it work here. It'd probably cost 15 times as much (at least) to achieve the same results in the U.S. as in developing nations,and there's also a question in my mind about the sense of entitlement felt by so many in this country and how that would get in the way of playing by the rules and being accountable. I like to think the best of everyone, but I just think it's easier to run a program like this overseas.