Kiva.org is a microfinance website that lends to individuals that would otherwise find it difficult to raise capital. In their words ‘Kiva’s mission is to connect people, through lending, for the sake of alleviating poverty.’
This is something that I have been trying to support over the last few months, where I have been lending on Kiva.org, and the first loans I made have started to be repaid, meaning that I have credit on my Kiva.org account that I can re-lend.
This is a very worthwhile project, with loans starting from $25, this is a very little sum, and due to the way Kiva.org works the risk of defaults and you loosing your money is shared between others in the Kiva community.
Kiva has started lending to individuals and businesses in America, however, I have tended to steer away from those as I see more value helping others who are in my view in greater need of help.
I have lent $175 so far, but my investment has not been that much as I have re-loaned money that has been paid back from the original loans I made. This is not much I know, but its a start!
This is a very interesting and important project so if you can help in anyway please do. I have not had any problems so far with the loans I have made and I can always withdraw the money from the site once loans a have been repaid rather than re-loaning them if i need to, thankfully thus far I have been in a position that allows me to re-loan rather than withdraw those funds.
Visit Kiva.org
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