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Off the Beaten Path
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Loans That Change Lives
1
Loans That Change Lives (Read 454 times)
mbk
posted: 7/4/2007 at 11:14 PM
modified: 7/4/2007 at 11:15 PM
Today I was out running errands with my daughter and listening to
Marketplace
on
NPR
(
KERA
, my local station). They interviewed
Nicholas Kristof
about a unique opportunity to participate in the practice of microlending (also known as
microfinance
) through an organization called
Kiva
. From the Kiva website: "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." I was impressed enough by the radio program (you can read or listen to it
here
) and by the information on the website that I made my first loans to four different people. You can see my portfolio
here
. I don't believe that microcredit alone can save the world, and I don't believe that charitable organizations and government programs are wrong or ineffective. I support anti-poverty organizations financially, and I support government anti-poverty efforts politically. But this is one more potentially powerful tool for empowering people to follow their dreams and gain a greater measure of independence. If you can part with as little as $25 for a year or so, you can help an entrepreneur in a developing country increase his or her self sufficiency. Given the incredible wealth and opportunities that we have here in the United States and other "first world" countries, doesn't this seem like the right time to check out
Kiva.org
? Have a happy July 4th!
modal
posted: 7/5/2007 at 10:55 AM
modified: 7/5/2007 at 10:56 AM
Greg Galant interviewed one of Kiva's founders on the
Venture Voice
podcast.
Vim
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Loans That Change Lives
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