Don't know how I've missed this brilliant twist on the world of micro-finance (small loans for poor people) before. Kiva connects individuals with small amounts of money to lend to entrepreneurs around the world who need small start-up loans in peer-to-peer online lending.
It's a fantastic way to give because once the money has helped you get it back to give to someone else. If you want to give regularly you can help more and more people each month. Pay back rate is around 98%. Investigate. It was the vision of a young, passionate American woman called Jessica Jackley who was interviewed at the Willow Creek Global Leadership Summit.
1 comment:
You should check out United Prosperity - www.unitedprosperity.org. They made a twist on Kiva's model by doing peer-to-peer loan guaranteeing. You choose the person you'd like to support, and then you put money towards a guarantee for that loan. Once the guarantee is given to the bank, the bank loans a sum about twice as large as the guarantee amount.
Both organizations are doing great things.
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