Kiva is an organization that helps low-income entrepreneurs across the globe get on their feet. Interested? You should be. It’s cool.
This is not an investment program, where you’re trying to make bank off of developing countries, nor is it a donation program. It’s a loan. Kiva works with microfinance institutions worldwide for access to the kind of people to whom a small loan makes a really big difference. A $25 loan might not go far here in the United States, but there are places in the world where people can do a lot with that much cash! You can browse the individuals and businesses seeking support through Kiva here. Some of these people are so close to their goal!
The entrepreneur profiles on Kiva are really interesting — you get a photo of the applicant, information about them and their family, and what project needs money. Projects range from weaving to fish selling to farming and restaurants. The profiles are edited and translated by Kiva volunteers (I checked and they don’t need any more right now — they’re full!).
Kiva not only sends all 100 percent of your loan to the entrepreneur, but in many cases provides training and other assistance to them to increase their chances of success. Their operations are supported by donations, so why not kick in an extra $1 or so when prompted, if you’re planning to lend? The entrepreneur repays the loan over time, and you will be notified by email when your funds are available — for withdrawl, donation to Kiva, or loaning to another applicant. The current rate for repayment is 98.35 percent, so really, Kiva’s gotta be doing something right.
There are all kinds of ways you can help Kiva and show your belief in entrepreneurship without getting out your wallet — visit their website for more information. They even have a fellowship program which would allow you to spend a minimum of 10 weeks on location in another country to help out. They’re also looking for interns!