KIVA - loans that change lives

If you haven't heard of KIVA yet, it's about time.
www.kiva.org

This website is another social innovation that seems simple enough in it's design but has had an enormous impact for countless people all over the world.

Individuals all over the world can register, read through the list of people/groups who are looking for loans to start or maintain their businesses. While the amount needed may be small to those of us in the U.S., it may not be as easy to obtain in a more economically depressed country.
KIVA users make small ($20-$50) loans to an individual/group of their choosing on the website (you get photos, business plans, etc.) which are 100% paid BACK. So you can make a one time loan of $20 and keep recycling it over and over.

I'll use my account as an example:

I originally loaned $25 to Agripina Rosas de Rojas (http://www.kiva.org/lend/75744) who was involved in clothing sales in Peru. I was paid that money back in full within a couple of months.
I then re-loaned that SAME $25 to Margret Koyeira who sold fruits & vegetables (pictured below) in Kisumu, Kenya. That loan has been 92% repaid. I've made 2 more loans since then which are both in the process of being repaid.




























From KIVA's website:

Kiva's mission is to connect people, through lending, for the sake of alleviating poverty.

Kiva empowers individuals to lend to an entrepreneur across the globe. By combining microfinance with the internet, Kiva is creating a global community of people connected through lending.

Pendo Luisi, 27 years old, borrowed $175 to open a cafe in Dar es Salaam, Tanzania.

Kiva was born of the following beliefs:

• People are by nature generous, and will help others if given the opportunity to do so in a transparent, accountable way.


• The poor are highly motivated and can be very successful when given an opportunity.


• By connecting people we can create relationships beyond financial transactions, and build a global community expressing support and encouragement of one another.

Kiva promotes:

• Dignity: Kiva encourages partnership relationships as opposed to benefactor relationships. Partnership relationships are characterized by mutual dignity and respect.


• Accountability: Loans encourage more accountability than donations where repayment is not expected.


• Transparency: The Kiva website is an open platform where communication can flow freely around the world.

As of November 2009, Kiva has facilitated over $100 million in loans.