Kiva.org hit a major milestone this week -- $100 million channeled to entrepreneurs in developing countries around the world through micro-loans. They now have more than 575,000 lenders loaning money through the site.
Micro-loans are one of the most powerful ways to alleviate poverty -- the adage teach a person to fish they eat for a lifetime comes true.
Kiva created the first online person-to-person micro-lending opportunity. When you visit their site you view requests from micro-lending organizations around the world with entrepreneurs requesting loans in many communities around the globe.
The great thing about lending through Kiva is when the borrower repays the loan you receive the money back. The repayment of micro-loans is +98% -- an incredible testimony to its effectiveness.
As well, PayPal is a supporter and they waive all service fees to transfer money from your account to the borrower via the micro-lending organization.
If you want to donate to entrepreneurs around the world and help alleviate poverty, join the Business With Purpose Network at http://www.kiva.org/team/business_with_purpose
To find out more about micro-loans visit http://en.wikipedia.org/wiki/Microcredit
Friday, November 6, 2009
Subscribe to:
Posts (Atom)