Have you ever noticed the Kiva banner on this website? I’ve made a screenshot of it here, but a live version is always in the right column of this site – if you can’t see it right now just scroll down and it will appear.
What is Kiva?
Kiva enables me to make a micro-loan of any amount (I usually do $25) to a small business person in the developing world. Note that I said LOAN, not donation. These are loans which will be paid back.
How does Kiva work?
You can click on the banner on this site or go directly 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 business 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 $25 loan to an entrepreneur named Catharine Ejenarhome in Nigeria. (You can see her pictured at right.) Mrs. Ejenarhome sells wooden combs to people in her community. She is 54 years of age, married, and mother of 7 children. She needs the loan amount of $625 to boost her business, which she started 2002.
Hopefully within a few days other people like me will chip in to make up the additional $600 to complete Mrs. Ejenarhome’s loan request of $625.
It’s very easy to actually do something about poverty using the microfinancing system that Kiva has introduced. 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.
Thanks! Barbra Sundquist
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What others are saying about www.Kiva.org:
‘Revolutionising how donors and lenders in the US are connecting with small entrepreneurs in developing countries.’
– BBC
‘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
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I love this organization and have 40 loans currently out. What is so wonderful is many of he loans go to the businesses to hire other people in their expansion trickling down the effect. If you want to give a great gift this holiday season and are having a hard time coming up with a unique idea, a gift card from Kiva is the way to go.