Spotlight- People making a Difference-KIVA

Thursday, December 13, 2012
In keeping with the theme of my last few 'think' pieces on values and making a difference- I will be highlighting some organizations in the next few days and weeks.

I have been supporting KIVA.org for a few years now. It is a microlending organization- so you loan $25 minimum to someone you choose- and they 'repay' it to you in monthly installments. You can then choose to 'relend' your money to a new person, or ask for the money back.

They are good about letting you know up front whether or not you are loaning a 'high risk' area. I have only had less than 2% of my loans default- and that was because of corruption in Kenya at the lender level- not because of the people who did the borrowing.

The number one critisism about KIVA is the 'high' interest rates they charge. Yes, they can be very, very high. But when you are living in a 3rd world country in which typical lenders, if they will even consider loaning you money, are charging upwards of two and three hundred percent- getting a loan at 30% repayment is a good option.

You are working here with people who could never get a loan otherwise- whose options are almost nil. So while this might not be the perfect solution- it is A solution- and that counts for something.
This is post 959 since the founding of this blog in March 2005.

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