Kiva is a great organization I have mentioned before (e.g. microfinancing for entrepreneurs). They let people to loan money directly to entrepreneurs around the world through their web site. Loan can be as small as $25. As the business produces income from the capital loaned the loan is paid back. Kiva is setup as a charity, so those making the loans do not make a profit. In actuality the capital is provided through a Kiva partner (intermediary) that often does change interest to the entrepreneur (many are non-profits themselves that use the interest to fund operating expenses - and I think some are for profit, though I may be wrong on that).
I loaned an additional $300 to 6 entrepreneurs today and donated $50 to Kiva. The entrepreneurs I helped fund are located in: Togo, Dominican Republic, Senegal, Nicaragua, Bolivia and Uganda. One of the things Kiva does very well is take advantage of the internet to connect to these people. You can see short profiles and photos of them on my Kiva profile.
I hope some of you readers will join and provide loans. If so I would love to add a link to your profile from the Curious Cat Kiva supporters page.
Related: Using Capitalism to Make the World Better - Kiva: Internet based Microfinancing - Make the World Better
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When you really have to struggle to put food on your plate or get clean water economic concerns are critically important. Economic progress may well decide whether your children live or not.
“The decision was swift as it was simple: move to Cambodia to provide jobs for poor women. I first
visited Phnom Penh in April 2006 and was back the next month to look for a house…”
John: I made a small ($50) trial contribution to Kiva in January. Only problem is I don’t see any reports on the success of my receipient’s business. He’s paying back OK but I’d like to know if the loan is working for him - does he need more? I asked Kiva but not much response.
Also, are any microloan ops offering a (low - say 5%) return to the donator? I don’t need the money but it would be a great way to build funds over time for further loans. Either way I plan on putting in more - it’s a great project.
Mike J