Kiva lets you connect with and loan money to unique small businesses in the developing world. By choosing a business on Kiva.org, you can “sponsor a business” and help the world’s working poor make great strides towards economic independence. Throughout the course of the loan (usually 6–12 months), you can receive email journal updates from the business you’ve sponsored. As loans are repaid, you get your loan money back.
I first heard about Kiva over at Stefan some while ago. And a few weeks ago I granted my first two $25 loans to two Mexican entrepreneurs.
Cool things about Kiva:
– The repayment rate is 95%, i.e. the lended money can be used over and over again
– Absolute transparency with fotos and journals
– Already over $3 Mio lended
– Interview with Kiva’s President Premal Shah
– Stefan about his first investments
– Documentary about Kiva
– Article about Social Entrepreneurship of Adrian Locher