Helping others through Micro Loans

This is really cool. I read about it today in the NYTimes.

Think you can spare $25 or so to lend to someone so they can start a business?

Kiva is an organization that organizes small business loans to people in very poor areas in the world -- and they are using the internet to do it !! And when I say small loan, I mean tiny -- as little as $500 can be enough to start a business. These small loans help these people grow their businesses so they can take care of their families, and it encourages entrepreneurship and independance.

So if there is a baker in Somalia who needs $75 to buy a new oven, Kiva puts his story up on their website and anyone can contribute to raising the $75 for him. You dont have to put up the whole $75 -- you can lend as little as $25. When the money is raised, the money is sent to a local organizer and then given directly to the baker. No fees,no interest, no middleman. You get your $25 loan back in about a year, at which time you can choose to keep your money or re-invest in another business.

Go read about it at their website : http://www.kiva.org/about

I love this stuff.

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