The Kiva Organization: microfinancing around the world

[ellen_datlow]

Back in June, I read a piece by Nicholas Kristoff on the op ed page of the NY Times about the Kiva organization, which partners with one of the microfinance institutions from around the world. You can lend money in increments of $25 to different people who are trying to start or expand their businesses around the world.

It's a LOAN. You get your $25 back (even if I didn't it would be worth it). I donated a total of $100, which was divided among four people.
Please check out the site and consider loaning a bit of money out.

Kiva Organization

"We let you loan to the working poor. Kiva lets you connect with and loan money to unique small businesses in the developing world. By choosing a business on Kiva.org, you can "sponsor a business" and help the world's working poor make great strides towards economic independence. Throughout the course of the loan (usually 6-12 months), you can receive email journal updates from the business you've sponsored. As loans are repaid, you get your loan money back.

Kiva partners with existing microfinance institutions. In doing so, we gain access to outstanding entrepreneurs from impoverished communities world-wide. Our partners are experts in choosing qualified borrowers. That said, they are usually short on funds. Through Kiva.org, our partners upload their borrower profiles directly to the site so you can lend to them.

We show you where your money goes."

An update: The four loans I've made are in the process of being repaid. As soon as they are, I'll re-donate to someone else.

Comments

[maryrobinette.livejournal.com]

Thanks for pointing that out, Ellen.

[ellen-datlow.livejournal.com]

You're welcome. Every couple of months I receive a flurry of emails about how much of the loan has been repaid, and I admit it's a thrill.

[lonesome-crow.livejournal.com]

Thanks. This looks quite promising.

I first read about...

[themadblonde]

this or something like it (micro-loans) in National Geographic a few years ago. Women in tiny rural areas are using these micro-loans to buy cellphones (among other things), then allowing other members of their community to make use of them for a small fee. In this way, the loans are not only helping the entrepreneur, they also benefit the community.

Re: I first read about...

[ellen-datlow.livejournal.com]

Yes, and the amount of money it takes to help is so minimal ...which is why I reposted this here (it was originally in my nightshade topic).
Please spread the word in your blogs. Let's do what we can.

[plattcave.livejournal.com]

Microlending really is doing phenomenal work around the world. This is the first I've heard, though, that individuals can make the loans! Very cool.

[tinaconnolly.livejournal.com]

thanks for mentioning that. I'd been meaning to sign up.

[ellen-datlow.livejournal.com]

You're very welcome.
And spread the word!

[nnaloh.livejournal.com]

Oo! Thank you!