PERSON TO PERSON LENDING
Just now totally enthusiastic about the Kiva micro-loan scheme: the world's first person-to-person micro-lending service. 100% throughput to the entrepreneur!
"Kiva's mission is to connect people through lending for the sake of alleviating poverty."
You "browse the catalogue", choose profiled entrepreneurs in the developing world, and lend $25 upwards enabling them to work themselves out of poverty or at least continue to survive in it!
Are you the only Westerner without $25 to spare?
I think i love this!
I agree Kiva is very cool. I too have recently become very excited about their work and the possibilities that come with micro-lending and economic empowerment.
Posted by: Shane | Tuesday, 27 May 2008 at 15:14
(As mentioned to you directly) I'm happy to recommend kiva.org to your readers.
Starting in december 2007 I have until now helped fund 24 micro businesses through kiva - all over the globe and through different "kiva field partners". The first funds have already been payed back by 33%. All funds are being repaid right on schedule - so I'm optimistic that the investment will really make a difference AND be 100% returned for me to use again to help finance some other projects.
(and actually, even if only 95% is returned, that's quite OK)
Maybe worth mentioning: the kiva field partners do charge interest on the micro credits (average 22.4%) - I suppose they carry a bit of risk and have to pay bills. Kiva themselves do not take any percentage of the credit (but aks for a donation during the payment process). Even PayPal does not charge any commission for the transactions!
Posted by: Sam | Tuesday, 20 May 2008 at 20:27