A couple of years ago, I received a generous year-end bonus from my employer and was so thankful that I wanted to share it in some way. I found
Kiva. Through Kiva, via established microfinance organizations in countries around the globe, I loaned several businesses $25 each (as per Kiva's suggestion to spread your money out so to minimize your risk with defaults.) But, instead of taking the money back from the account once the loans were repaid (and
all of them were), I found new businesses in need and re-loaned it all. Since I began I've put about $500 into Kiva and through re-loaning, I have turned that into over $1300 in loans that have gone to people in Togo, Azerbaijan, Bulgaria, Ghana, Ecuador, Tanzania, Samoa, and more. Here are a couple of screenshots from my account to give you an idea:
Kiva is an amazing organization and although I'm not wealthy enough to give tons of money to charities every year, I can make a difference with what money I can afford by loaning it over and over. It's a great feeling. It's a great endeavor. It's truly
making a difference to real people who are making strides to change their lives.
The thing is, people who are poverty stricken often don't have collateral or friends in the banking industry. So, although they may have a great idea for a poultry market or a seamstress business, they have no access to funds they'd need to make those ideas reality. In most cases, no one loans money to people who don't have money. Kiva does.
And they do it with my money. (And yours if you want to help.)
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