In December I made my first donation to Kiva. Kiva is a microcredit non profit organization that lends money to people who would never qualify for a bank loan. By lending these small amounts, people are able to drastically improve the quality of their lives. The repayment success is over 98 percent.
I lent 25 dollars to a woman in Uganda. Kiva took my money and the money of others and lent Benna Akiya 4500 dollars to help expand her beer business. The money was repayed by April (which to me is amazing, as I couldn't repay that much in four months).
Kiva gives the money back to the lenders to do with what they wish. You can either relend it or take it back. I relent. Here is the email about it.
S.
Hi!
I just made a loan to someone in Uganda 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.
I just made a loan to an entrepreneur named Prisons B Afeku Getrude Group in Uganda. They still need another $325.00 to complete their loan request of $600.00 (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 Prisons B Afeku Getrude Group too:
http://www.kiva.org/app.php?page=businesses&action=about&id=106210
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.
Thanks!
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What others are saying about www.Kiva.org:
'Revolutionising how donors and lenders in the US are connecting with small entrepreneurs in developing countries.'
-- BBC
'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