Kiva’s a non-profit that tries to match people with money with people who need money, typically entrepreneurs in developing countries who need a small loan to buy raw materials or equipment for their business. The default rate on these loans is extremely low since local micro-lending institutions or organizations typically perform a lot of due dilligence into the applicant.
Anyway, I loaned out a few dollars and Kiva suggested I sent this email to my friends. I’ll just post it here instead:
I just made a loan to someone in the developing world using a revolutionary new website called Kiva.
You can go to Kiva’s website and lend to someone in the developing world who needs a loan for their business – like raising goats, selling vegetables at market or making bricks. Each loan has a picture of the entrepreneur, a description of their business and how they plan to use the loan so you know exactly how your money is being spent – and you get updates letting you know how the entrepreneur is going.
The best part is, when the entrepreneur pays back their loan you get your money back – and Kiva’s loans are managed by microfinance institutions on the ground who have a lot of experience doing this, so you can trust that your money is being handled responsibly.
I just made a loan to an entrepreneur named Lan Thi Nguyen in Viet Nam. They still need another $500.00 to complete their loan request of $825.00 (you can loan as little as $25.00!). Help me get this entrepreneur off the ground by clicking on the link below to make a loan to Lan Thi Nguyen too:
It’s finally easy to actually do something about poverty – using Kiva I know exactly who my money is loaned to and what they’re using it for. And most of all, I know that I’m helping them build a
sustainable business that will provide income to feed, clothe, house and educate their family long after my loan is paid back.
Join me in changing the world – one loan at a time.
What others are saying about www.Kiva.org:
‘Revolutionising how donors and lenders in the US are connecting with small entrepreneurs in developing countries.’
‘If you’ve got 25 bucks, a PC and a PayPal account, you’ve now got the wherewithal to be an international financier.’
— CNN Money
‘Smaller investors can make loans of as little as $25 to specific individual entrepreneurs through a service launched last fall by Kiva.org.’
— The Wall Street Journal
‘An inexpensive feel-good investment opportunity…All loaned funds go directly to the applicants, and most loans are repaid in full.’
— Entrepreneur Magazine
I also gave money to this woman, almost based on the name alone:
“Dorcas Omokaro is 40 years old, married with 5 children. She sells local gin and palm oil. She hails from Edo State, Nigeria and needs a loan $350 to buy more palm oil to sell. She thanks you.”
Maybe with this loan her children can grow up to be booze-slingers instead of Nigerian scammers.