Did you know that you can be a microfinancier? There is an organization called Kiva that allows you to do that. They provide a network that connects you to people who need loans. These people are all over the world and most are looking for loans to start a business or expand their current one. Because of their circumstances they are not able to just go to the bank and get a loan.
Kiva works with a range of organizations to find borrowers and administer loans. We call these organizations Field Partners because they work at the local level, within the communities where loans are being used to make a difference. While most of them are microfinance institutions, we also work with schools, NGOs, social enterprises and more. They all share one thing in common: the social mission to alleviate poverty and improve people’s lives. From Kiva’s page
My most recent loan was to Yeyeri in Uganda. A loan of $450 helped Yeyeri to purchase general merchandise to sell, such as sugar, rice, soap, and other items. She only needed $450 and I chipped in $25. She was just officially funded and will start her repayment schedule in February. Once my $25 has been repaid I will have the money put back in my account where I can withdraw it or loan it to someone else.
I have been able to make 41 loans since first starting Kiva. That’s over $1,000 which is pretty amazing…especially since I haven’t put in that much. I’m just reloaning the amounts when they are paid back to me. I hope you’ll check it out. Maybe you want to loan to Margret in Uganda. She’s requesting a loan of $450 to buy sugar, salt and sodas to sell. Or maybe Nicolas from Paraguay who needs a loan of $775 to help buy tools. Small loans that really can change lives.