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Kiva - Loans that change lives
I just became part of a group of people changing the life of Jolly Suelen - just by donating $25!
HOW?
I was able to do this through the website Kiva. Kiva is a non profit organisation which links entrepreneurs in the developing world with people in the developed world. Kiva was set up by two individuals who had travelled through the third world looking for ways to help. They came to the realisation that a huge problem was that people were not able to develop their businesses or their education because of their lack of access to finance. Local banks and loan sharks both charged extreme interest rates 100s of percentages.
So Kiva was set up as a safe and secure way for people in the first world to loan money to these people. Assessments on made by local partners of applicants and, if successful, they are then posted on www.kiva.org where individuals can browse those seeking loans and then choose to loan to someone.
The loans can be as small as $25. Each loan has a repayment plan and so your money is repaid over time. You can then choose to re loan the money over and over again - $25 never went so far!
You can also choose to make donations to Kiva. They do not take any of the loan, it all goes directly to the applicant. They therefore operate on donations from the public and sponsors.
WHO WANTS LOANS?
There are many people seeking loans throughout Kiva and you can search on the basis of area of profession eg education, hospitality, health, agriculture. The people are both male and female. There are full descriptions about the loans available on the site.
IS IT SAFE? HOW DO I KNOW IT ISNT A SCAM?
Kiva has been around now for 5 years and has facilitated over $190 million in loans. It is supported by many famous people such as Bill Clinton and Oprah Winfrey. Hop on google to find videos of these people talking about Kiva.
In addition Kiva is backed by various well known multinational companies such as Google, Visa, Ernst and Young, Youtube, Facebook and Intel amongst many more. Paypal have also become a corporate sponsor and therefore do not charge people for putting money into and out of Kiva.
FIND OUT MORE
I could speak about Kiva for hours on end! To find out more information go to www.kiva.org
You can also find information all over the internet and youtube about Kiva and how it works. Send me a message if you would like an emailed invitation to be part of this - obviously no obligations to sponsor or donate when you sign up.
BE YOUR OWN WORLD BANK!
awesome post!!
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