Saving the World, One Loan at a Time
My little sister knows me well… really well. Last week she called me and told me about a website she heard about in class. Her professor showed a Frontline episode in class that followed a non-profit named Kiva.
Kiva is a non-profit located in San Francisco that gives micro-loans to individuals in the developing world. But unlike many non-profits and charities, Kiva allows the lender to chose which individuals they support. When you visit the website you can see stories from people all over the third world and read about their business plans, then you can chose to loan to specific businesses and people. And the best part? Your loan is repaid to you and so far Kiva has a 100% repayment rate. That means that you can loan $50 today, get it repaid in a few months while helping someone start or improve their business, then re-loan that money to someone else. For most of the entrepreneurs, interest rates from their local banks are extremely high and you can offer them an affordable way to improve their business. So don’t let your money sit in the bank when it can spend a few months in Africa and save a family from poverty.
Convinced? Visit Kiva and start reading about people who could use your loan! This is a very real way you can battle world poverty.
Let me know what you think after you check it out. Do you think this is a good method for ending poverty? Do you think other charities and methods are better? Have you already invested half your savings?!? Let me know 🙂