Kiva.org
Friday, January 4th, 2008Kiva.org is a non-profit organization that delegates microloans to 3rd world countries. Somewhere an entrepreneur applies for a loan to improve their business and people all over the world can join together to provide that money.
Our 25 USD donations are summed up to form the applied loan amount for example 700 USD. The loan has monthly repayment schedule and if everything goes well, entrepreneur’s business grows , and we all get our 25 USD back. Then we have a choice to either pocket the money or lend it out again.
Currently I sponsor two entrepreneurs via Kiva.org. I chose two businessmen from Tajikistan. It will be fun to follow how these loans and their businesses develop.