Kim
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- Nov 30, 2002
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I was just referred to this great website, www.kiva.org.
Kiva partners with existing microfinance institutions, and it provides a way for caring individuals in 'rich' countries to make loans via paypal to poor people in developing countries who are trying to raise funds to start or expand their small businesses (stores, agriculture, etc.).
You can lend as little as $25 or as much as you like, and because each entrepreneur usually only needs a few hundred dollars to get their idea off the ground, small loans really make a difference and genuinely help to lift people out of poverty. The vast majority of the microfinance institutions involved have repayment rates of 100%, so there is little risk of default and chances are that you'll get your money back (although without interest) within 6-12 months, depending on the project you choose to lend to. Another bonus is that the administration of the project is all via donation, so all of the funds you lend go directly to the entrepreneur.
I signed up and lent to 'Elena', a Peruvian farmer who raises potatoes, corn and pigs. She needs a loan to buy fertilizer for her fields.
If you decide to sign up and lend, post about your loan recipient here!
Kiva partners with existing microfinance institutions, and it provides a way for caring individuals in 'rich' countries to make loans via paypal to poor people in developing countries who are trying to raise funds to start or expand their small businesses (stores, agriculture, etc.).
You can lend as little as $25 or as much as you like, and because each entrepreneur usually only needs a few hundred dollars to get their idea off the ground, small loans really make a difference and genuinely help to lift people out of poverty. The vast majority of the microfinance institutions involved have repayment rates of 100%, so there is little risk of default and chances are that you'll get your money back (although without interest) within 6-12 months, depending on the project you choose to lend to. Another bonus is that the administration of the project is all via donation, so all of the funds you lend go directly to the entrepreneur.
I signed up and lent to 'Elena', a Peruvian farmer who raises potatoes, corn and pigs. She needs a loan to buy fertilizer for her fields.
If you decide to sign up and lend, post about your loan recipient here!
