I’d heard of Kiva.org before, but as I was reading The Crafty World, I noticed that Jen has been participating in the program and her post reminded me to check out the site further.
Within about 5 minutes of looking around, I’d found two women (pictured here) I wanted to help sponsor loans for, so I immediately signed up for the program. Kiva.org is a microfinance lending site that allows people give micro-loans to entrepreneurs around the world.
You don’t have to loan the full amount; you can chip in on the loan for a minimum of $25. So far, all loans made through Kiva have been paid back in full. Microfinance loans worldwide are generally repaid at a rate of 97%, so while it’s possible you could lose money when lending, generally you will be paid back for your good deed.
The first two women I’m lending to are both crafters from Kenya who need a loan to purchase beads in bulk so that they can expand their businesses. Both of these women are also involved in a local organization that campaigns for the rights of women and children. In the very brief time since I signed up and submitted my loans, each woman’s loan amount has been matched in full, through a number of small loan pledges like the one I made. I’m glad to know that both ladies will soon be able to buy their beads and get to work making even more lovely creations!
There are entrepreneurs from all over the world currently seeking loans through Kiva.org…you can find them here.
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that is such a great organization! I’ve recently become involved with them as well
We’re giving our brand-new goddaughter a gift certificate for Kiva as a baptism present next week. If they reinvest the original amount and add $25 every year until she’s 18, they’ll have been able to contribute $4,750 in her name. If they contribute the minimum of $25 to each person, they can help fund 190 microloans. We figure it’s a wonderful way to help her learn about stewardship and charity.
That’s such a great idea Lorna! I love giving and receiving those kinds of gifts.