Wednesday, March 08, 2006

Loan $25 (or more) to change lives through Kiva

The idea is simple: help people help themselves.

Kiva "lets you connect with and loan money to a unique small business in the developing world". It takes the beauty of microfinance a step further by pairing it with "microlending"--loans from people like you and me.

Why lend money to someone who wants to start, say, a flower shop in Honduras? Well, with a loan that person can build an honest business, and then provide for his or her family, send his/her children to school, and make strides towards financial security. Now that's a much higher return on your cash then the 0% your $25 is making in your Checking Account. Plus, as a bonus, you can take comfort in that fact that your world is a safer place, since that person will not be tempted by illegal or unethical ways to make money (generally a problem in developing nations).

Learn more about Kiva here.
-----------------------
Time commitment? If you already have a PayPal account, it can take less than 1 minute. If you don't, it'll take 5 minutes.
Cost? Likely zero, as most loans are repaid (yes, there is a smaaall chance it won't be...see the FAQ).
Impact? On someone else, huge. You can directly contribute to helping change someone's life around (for the better). On yourself and your world? Less tangible, but there is an impact. With more honest entrepreneurs, the world becomes safer, richer, and brighter--and so will your life.

3 Comments:

Blogger Linja said...

Good idea. I will bookmark your blog. Keep up the good work.

7:59 PM  
Blogger Yamaka said...

Hi:

In the microlending via Kiva

1. What is the average size of the loan?
2. Average interest rate charged?
3. Average duration of the loan?
4. Average default rate?

I am interested. Please write about your personal experience with micorlending via Kiva.

Cheers.

9:35 AM  
Blogger sundeep said...

Hey Yamaka...your questions can be answered here: http://www.kiva.org/about/help

1:22 PM  

Post a Comment

<< Home