Saturday, June 16, 2007


Kiva Micro Financing and Giving

I believe I mentioned Kiva a while back when I first heard about it through GOOD Magazine. (Or maybe I only wrote about it on my Bookshelf blog...) You may have noticed the button on the left on this site.

If you haven't clicked on their link, here is their own description of who they are from their site:
Kiva let's you lend to specific entrepreneaur in the developing world--empowering them to lift themselves out of poverty.

As part of my 2007 goals to give more, I signed up with Kiva and have sent three loans so far, each of $25. Here is a breakdown:

Cesar Pilco, Ecuador
Cesar wants to go from a sidewalk food cart to an actual restaurant. His total loan (from many Kiva members) was $1000 with a plan to repay within 10-14 months. He has paid back 30% of the loan and I personally got $7.50 back already.

Blanca Cortez, also in Ecuador
Blanca got a loan to help improve their rice farm. She requested $350 with an 11 month payback term. She has paid back 16% of her loan and I personally got $4 back already.

Caya Cruz Acosta in Mexico
She opened a grocery shop in her small neighborhood where there wasn't one. She reqeusted $950 with a 12 month repayment schedule for a larger refrigerator and to buy additional merchandise. She has already paid back 19% of it. I have gotten $4.19 back.

It has only been a matter of months since these people got their loans and have begun repayment. I find that inspiring. All they payments I'm getting back will be put right back into another loan, plus another monthly $25 loan. And as soon as our income improves, I will loan more at a time.

As for my other areas of giving in 2007, you have read about them here:
Reading to Kids
Donating Platelets


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