I just made my 8th loan (this time to a female entrepreneur in Mongolia) using a revolutionary new website called Kiva (www.kiva.org).
You can go to Kiva’s website and lend to someone across the globe 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 entrepreneur 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.
One of the things I really enjoy is getting the monthly update email from Kiva which tells the status of my microloan repayments. This month, I had $17.66 payed back and I decided to reinvest it in another entrepreneur, which I did. My loan selection criteria is as follows. My first choice is a female entrepreneur in a country where I have spent time, usually a solopreneur, where I can easily see how the loan will increase her ability to expand her business and help support her family. To date I have made loans to 5 women in Peru, 1 in Pakistan, and 1 in Samoa – all places I have been.
So, I just made a loan to an entrepreneur named Otgonbat Tseesuren in Mongolia, a place I have not yet been. They still need another $2,025.00 to complete their loan request of $2,775.00 (you can loan as little as $25.00!). Help me get this entrepreneur off the ground by clicking on the link below to make a loan to Otgonbat Tseesuren too:
It’s finally easy to actually do something about poverty – using Kiva 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.
What others are saying about www.Kiva.org:
‘Revolutionising how donors and lenders in the US are connecting with small entrepreneurs in developing countries.’
‘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