Saturday, October 25, 2008

Kiva


Kiva - loans that change lives
Last week on the International Day for the Eradication of Poverty I encouraged everyone to find something practical to do (big or small) in order to take action. I said that I was going to investigate Kiva and the idea of microfinance loans.

Kiva allows individuals or groups to lend money to a specific entrepreneur in the developing world. When the loan is repaid the lender is able to re-lend to another entrepreneur (or they can withdraw their funds). You are able to view the entrepreneurs profile, what they hope to do with the loan etc. Through Kiva you are also given updates about your entrepreneur and loan updates. I did have a look around for an Australian based organisation that does a similar thing without much luck. However, through PayPal it is pretty easy to transfer the funds from all over the world. For as little as $25 (US) you can give someone the power to lift themselves out of poverty.

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