Anyone ever heard of KIVA? I found out about it from Bill Clinton's book. It's an organzation through which you loan money (minimum $25) to a specific entrepreneur in the developing world, empowering them to lift themselves out of poverty. The loan is disbursed thru a local organization and the entrepreneur pays it back based on a repayment schedule. I made my first loan in December and the recipient has already begun to repay. Credit is with KIVA and can be loaned again or funds can be returned.
If anyone is so inclined, give it a try - think of all the good that can come out of this small gesture.
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59 minutes ago
2 comments:
Tell us about the investment!!
It's not an investment but a loan. I picked a lady from Nicaragua who sells used clothing in the local market. She needed the funds to buy more clothing for resale. There were 10 lenders for a total loan of $300 and the repayment schedule was over 5 months. She has already repaid 24%of the loan.
I am looking thru the list of applicants to make another loan.
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