After seeing a presentation about Kiva.org at Community Next, I was excited to help out. What’s Kiva, you ask?
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.
Kiva is based on the microfinance concept – giving small loans to otherwise "unbankable" poor around the world. There are millions of potential entrepreneurs around the world who could get their start, get out of debt, make a better life for their families with only a few hundred US dollars. Kiva.org makes it easy to loan (not donate) money to this potential or current entrepreneurs.
I loaned (not donated) my first $25.00 and just got a notification this morning that the full $750 has been collected by a number of other Kiva users! Meet Josey from Pantang , Ghana and wish her luck!
"Josey wants to extend her operations to a neighboring community and needs more capital. She has a shop that operates day and night selling children’s clothing. She would need a loan of $750 to improve her business."
