Got some extra cash? Want to empower people through financing?
Be a loaner!
So I just made my first Kiva loans.
I figure…if I can afford to eat out as much as I do, and spend unnecessary (and sometimes copious) amounts on entertainment, drinks, and travel…I can afford to lend money to someone who needs it more than I do.
I just lent money to 3 individual entrepreneurs from 3 different countries.
One sells books and comics in Ecuador.
One raises guinea pigs in Peru.
One farms bananas in the Philippines.
Over time, they will repay their loans.
I will then receive my initial investment back.
Then I will re-lend it to other entrepreneurs who need funding.
You may have some questions on how this whole operation works.
I can’t explain it like kiva.org can, so I’ve pulled some information from their website with links below.
I hope you’ll join the loaner movement.
[if you already aren't a part of it :)]
What is Kiva?
Kiva’s mission is to connect people, through lending, for the sake of alleviating poverty.
Kiva empowers individuals to lend to an entrepreneur across the globe. By combining microfinance with the internet, Kiva is creating a global community of people connected through lending.
How Kiva Works:
1) Field partners approve and disperse a microloan to an entrepreneur in their community
2) The entrepreneur’s profile and story is uploaded onto kiva.org
3) Lenders (potentially you) browse through kiva.org and choose someone to lend to using paypal or a credit card
4) Kiva provides the loan to the field partners
5) The entrepreneur repays their loan over time
6) Lenders get their money back and can re-lend to another entrepreneur, donate their funds to Kiva (to cover operational expenses), or withdraw their funds to their PayPal accounts