Loans That Change Lives...
If you aren't already familiar with Kiva, let me try and explain or better yet, this this website if you get a chance.
Kiva is a non-profit organization that facilitates loans to individuals/small businesses in various developing countries. For $25, you can micro finance a small business of your choice. Although $25 doesn't seem like a great amount of money - it is, especially in areas where money and resources are scarce. For a less than a dinner for two, you can make a world of difference towards the betterment of someone's life.
I currently sponsor two individuals. My first loan was to Amina Zahanatia - she operates a poultry business in Tanzania and her loan has been 90% repaid. My second loan was to Queen Okhuahesohan - she runs a small food supply store in Nigeria and her loan has been 25% repaid.
The typical life-cycle of a loan is usually 6-12 months and during that time, you will receive updates as to your repayment status. You can either choose to re-loan what has been paid back or remove your money from the system.
I hope to add more loans to my portfolio in the upcoming months. I say “hope” because on occasion (i.e. after Kiva has been featured on Oprah); loan support has been so generous that there aren’t enough small businesses in the system to keep up with demand - obviously great news!
The concept of Kiva is similar to the old Chinese proverb: "Give a man a fish and you feed him for a day. Teach a man to fish and you feed him for a lifetime."
Kiva is a non-profit organization that facilitates loans to individuals/small businesses in various developing countries. For $25, you can micro finance a small business of your choice. Although $25 doesn't seem like a great amount of money - it is, especially in areas where money and resources are scarce. For a less than a dinner for two, you can make a world of difference towards the betterment of someone's life.
I currently sponsor two individuals. My first loan was to Amina Zahanatia - she operates a poultry business in Tanzania and her loan has been 90% repaid. My second loan was to Queen Okhuahesohan - she runs a small food supply store in Nigeria and her loan has been 25% repaid.
The typical life-cycle of a loan is usually 6-12 months and during that time, you will receive updates as to your repayment status. You can either choose to re-loan what has been paid back or remove your money from the system.
I hope to add more loans to my portfolio in the upcoming months. I say “hope” because on occasion (i.e. after Kiva has been featured on Oprah); loan support has been so generous that there aren’t enough small businesses in the system to keep up with demand - obviously great news!
The concept of Kiva is similar to the old Chinese proverb: "Give a man a fish and you feed him for a day. Teach a man to fish and you feed him for a lifetime."
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