You Can Give Micro Loans to People in Third World Countries - saw this on Oprah

[one...two...tree 2,762]

Kiva was started by a husband and wife when they were living in South Africa. You can loan as little as $25 and 97% of the loans are repaid. What a way to make a difference!

We let you loan to the working poor

Kiva lets you connect with and loan money to unique small businesses in the developing world. By choosing a business on Kiva.org, you can "sponsor a business" and help the world's working poor make great strides towards economic independence. Throughout the course of the loan (usually 6-12 months), you can receive email journal updates from the business you've sponsored. As loans are repaid, you get your loan money back.

http://www.kiva.org/about

[mawilson 2,133]

What interest rate can I get on a loan like that?

[MrsAmera 41]

I don't think the purpose is for you to make a bundle off of the loan - it's more to contribute to the greater good and help develop the economic situation in third world countries. So if you don't like "giving" to charity. You can give a loan, feel good and get your money back......

[mawilson 2,133]

I don't think the purpose is for you to make a bundle off of the loan - it's more to contribute to the greater good and help develop the economic situation in third world countries. So if you don't like "giving" to charity. You can give a loan, feel good and get your money back......

Oh I see. You can feel good and finance the loans, while Kiva is laughing all the way to the bank.

[wherezdabearz 1]

I think this is a fantastic idea. I recommend taking a look at their site. I love the idea of lending money and actually knowing who it's going to. Thanks for posting this, Steven

Alison

[boo boo 1]

I loved this episode!!! It is all about giving....and that is the reward you get I was very inspired...when you give and help someone out in a 3rd world country, I do not think you should think about what financial gain your going to get for it.....what you should think about about is how you are helping someone and their family overcome poverty and feel blessed to have such an opportunity to contribute to their success.

[Heracles 417]

Good to see capitalism providing a sustainable solution towards eradicating poverty.

[Cassie 8]

We saw this on Oprah as well, and we plan on participating in the new year. I've been looking for a way to put part of my tithe towards international humanitarian "help up not hand out" programs and this works nicely.

[one...two...tree 2,762]

I don't think the purpose is for you to make a bundle off of the loan - it's more to contribute to the greater good and help develop the economic situation in third world countries. So if you don't like "giving" to charity. You can give a loan, feel good and get your money back......

Oh I see. You can feel good and finance the loans, while Kiva is laughing all the way to the bank.

I'll try to look into it further, but I was under the impression that Kiva is a not-for-profit company. I think it's an awesome idea.

[Alex+R 0]

Something about this makes me feel weird. I feel, I don't know, like I'd be being condescending? It's like Christian Childrens Fund. Maybe they pay small amount of interest and that's what kiva gets to keep? Either way, my reservations aside, it seems like not a bad idea. And generally I think microloans are a great idea, although I'd be more comfortable giving to a nonprofit that makes microloans than to a specific person.

[Cassie 8]

I don't think the purpose is for you to make a bundle off of the loan - it's more to contribute to the greater good and help develop the economic situation in third world countries. So if you don't like "giving" to charity. You can give a loan, feel good and get your money back......

Oh I see. You can feel good and finance the loans, while Kiva is laughing all the way to the bank.

I'll try to look into it further, but I was under the impression that Kiva is a not-for-profit company. I think it's an awesome idea.

It is a not for profit. from their website:

Kiva.org is a 501c3 non-profit public benefit corporation registered in the state of California. Your donations to Kiva.org's operational expenses are tax-deductible.

Also from the website:

How does Kiva fund its operations?

Kiva.org currently sends 100% of your loans to the borrowers listed on the site. However, self-sustainability is critical to Kiva.org. To this end, we support ourselves principally on the "optional fees" our lenders voluntarily pay to the organization in addition to the loans they make. Based on this income stream alone, we are currently self-sufficient. In the future, as the needs of our charitable cause dictate, we are open to considering additional revenue streams such as partnership fees.

Lastly, we have raised growth capital from a small group including Silicon Valley angel donors, corporate sponsors and foundations such as the Draper Richards Foundation and the Kellogg Foundation. We are incredibly thankful for this support that has helped us keep up with a fast pace of growth.

As far as I can tell, there is no interest on the loans. And there are ways that you can screen the small business you want to lend to. I think it's an awesome idea, and my husband, who is notoriously conservative when it comes to money, is convinced as well.

[Jason-Sasha 1]

So, who exactly repays the loan??

[Cassie 8]

You pick the small business to loan the money, and the small business repays the loan back to you through Kiva. You then can re-use the money and help another business.

[Amby 490]

cool I read about this awhile ago but didn't look too far into it. I think it's a good idea

[caybee 21]

Kiva was started by a husband and wife when they were living in South Africa. You can loan as little as $25 and 97% of the loans are repaid. What a way to make a difference!

We let you loan to the working poor

Kiva lets you connect with and loan money to unique small businesses in the developing world. By choosing a business on Kiva.org, you can "sponsor a business" and help the world's working poor make great strides towards economic independence. Throughout the course of the loan (usually 6-12 months), you can receive email journal updates from the business you've sponsored. As loans are repaid, you get your loan money back.

http://www.kiva.org/about

Thanks for posting this. I've heard about microloans but hadn't seen anything like this. It sounds like a way of kinda "recycling" charitable donations.