Kiva

alehel · 12-25-2008, 05:35 PM

This year my uncle got me a $50 gift certificate for an organization called Kiva. Through Kiva, several members go together to lend money to entropenours in developing countries who would otherwise never be able to aquire one through a bank. They use the money to buy things they need to make their business more profitable and thereby strengthen the local community. They also have an excellen credit history. The entire Kiva site has only 3% failed repays, and concidering that most members only give $25 to each cause, this makes losses minimal for those involved, which is why microcredit works so extremely well. Once the loan is payed back (usually takes between 6 and 18 months) you get the money back and you can reinvest it in someone else, or keep the money for yourself, which means that the money you give can be reused. Even Bill Clinton recommended it and so far I'm hooked. I really recommend that others give this a look. Even in these times of economic crisis, everyone can afford to give $25 to help someone worse off then themselves.

Heres my profile. You can see who I've leant money to. http://www.kiva.org/lender/aleksander6603

Also, an interesting note, Paypal is used for transfering money to Kiva and for transfering from Kiva back into your account when you wish, BUT, Paypal does not take any commission at all for this. They offer this as a free service to help Kiva.

12-25-2008, 05:35 PM	#1
alehel Zealot Posts: 112 Karma: 10 Join Date: Nov 2008 Location: Norway Device: Kobo Clara HD	Kiva This year my uncle got me a $50 gift certificate for an organization called Kiva. Through Kiva, several members go together to lend money to entropenours in developing countries who would otherwise never be able to aquire one through a bank. They use the money to buy things they need to make their business more profitable and thereby strengthen the local community. They also have an excellen credit history. The entire Kiva site has only 3% failed repays, and concidering that most members only give $25 to each cause, this makes losses minimal for those involved, which is why microcredit works so extremely well. Once the loan is payed back (usually takes between 6 and 18 months) you get the money back and you can reinvest it in someone else, or keep the money for yourself, which means that the money you give can be reused. Even Bill Clinton recommended it and so far I'm hooked. I really recommend that others give this a look. Even in these times of economic crisis, everyone can afford to give $25 to help someone worse off then themselves. Heres my profile. You can see who I've leant money to. http://www.kiva.org/lender/aleksander6603 Also, an interesting note, Paypal is used for transfering money to Kiva and for transfering from Kiva back into your account when you wish, BUT, Paypal does not take any commission at all for this. They offer this as a free service to help Kiva. Last edited by alehel; 12-25-2008 at 05:41 PM.