Wednesday, June 2, 2010

Loans That Change Lives


Giving back and helping the world's poor is something that all we all should be doing. Especially in developing countries, where the infrastructure is not available to support industrious, talented and motivated individuals. But how do you make a difference in someone's life, how do you reach these individuals without financing corruption and aid bureaucracy?

A couple of years ago, I came across Kiva and the answer was obvious! 

So, what is Kiva?
Kiva is an micro-lending platform that connects investors from all around the globe to small entrepreneurs from developing countries, who are looking for funding for their business. 

How does it work?
Kiva partners with existing micro-finance institutions, called the Field Partners, to collect information on the loans needed and risk involved. They also provide the details, stories and photos that are uploaded onto the Kiva website. The lenders then browse and decide which projects they would like to fund. You can lend as little as $25 and as much as the full amount! The Field Partners then disburse the loans. Depending on the terms of the loan, entrepreneurs start paying off the capital and interest - the interest is used to cover the field partner's costs.

How you can participate?
You can create an account at, browse though the fund-raising loans available and start lending!
You can make a real impact in someone's life, in a community and ins't that what giving back is all about?

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