Happy fall do-gooders!
I recently discovered an amazing website that makes giving back ridiculously easy. I had heard of microfinance loans before, but was never really sure what it was all about. Kiva is a non-profit organization dedicated to alleviating poverty through the use of loans. Here's how it works!
Basically, you browse the thousands of entrepreneurs on Kiva's website who don't have access to traditional banking systems or bank loans throughout the world but who have a great idea or a business already up and running that just needs a little more money to get moving. You select someone or a group of people whose work really speaks to you, and you lend them as little as $25 for their project on Kiva's website.
Since Kiva was founded in 2005, over 600,000 people have made loans amounting to $248 million directly to those in need with a 98.87% repayment rate. That's pretty astonishing. Plus every penny goes directly to the borrower. Kiva takes no cut of the money and charges no interest to the borrowers!
This morning, I loaned $25 to Ajala Hamza in Msambweni, Kenya who is now 55% of the way to her goal of a $225 loan. Ajala is a widow with five children. Three of her children have finished high school and two are still in school. The family lives in a house without running water or electricity. Ajala has a vegetable business but it is difficult for her to transport her vegetables to the market. She is hoping to expand into raising chickens so that she has something more sustainable than the vegetable business which barely provides enough for her to feed her family.
There are thousands of people like Ajala who could use a loan to jump start their business venture. Kiva offers agricultural, housing, educational, and business loans, and there are people and groups all over the world that you can help. Plus, it's a loan--so you're actually investing and giving back at the same time!
Could giving back get any easier?
xo Jessica
UPDATE: Since this post, Ajala has raised 100% of her goal. Amazing!!! There are so many others in need of a loan on Kiva. Let's see if we can help them too!
