Microloans are a way to help life people out of poverty by giving them a chance to be entrepreneurs. This money is not a handout: partner organization take the applications, vet the business ideas and monitor progress and repayment.
A microloan is a small (by US standards) amount of loan money. Usually under $1000, it can mean the ability to start or expand a business.
Kiva makes microlending possible for the average person. By lending $25, each person has a chance to be part of a bigger loan. Kiva assembles the money with other donors’ $25 to make the requested amount. An easy-to-use web interface, along with Paypal for payment of the $25, make it simple and safe.
In my time lending with Kiva, about 2 years, I have made 14 loans with my initial $50 investment. None of these borrowers have defaulted, and each of these were businesses I felt I could support. Most of the loans I help fund are to women, struggling to support families.
I urge you to check out Kiva and make a real difference to people working their way to better lives. For $25.00, you can make a real difference in the fight on poverty.
Photo by liewcf