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Old 10-17-08, 12:47 PM   #1
permanentjaun
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Kiva.org - Interesting Idea

www.kiva.org

Essentially you are a private lender giving small loans to 3rd world entrepreneurs. I'm intrigued in the sense that these are real people you affect and can really see the hardships they're facing. The current featured person requesting a loan wants money to buy fertilizer to produce a better yield on his crops so he can afford a car to become a cab driver, and eventually afford his children a better education.

The financial savvy side of me is intrigued in that this is a loan service. You eventually do get paid back, and perhaps with interest. I can't imagine these are very high grade loans or that interest is anything worth shaking a stick at.

Still, that makes it an interesting idea in that it's a donation with the possibility of getting more than you gave back. Win win on both sides.
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Old 10-17-08, 01:26 PM   #2
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Sounds like a very interesting idea. I wonder how they check for people treating this as a scam portal...

Third world countries run rampant with scams.
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Old 10-17-08, 01:29 PM   #3
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My family did this Everyone tossed in $50 or so, and we financed a portion of a a loan as a charitable project. I think that's really what it's intended for, more than as an investment, though I suppose you could treat it as that.
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Old 10-17-08, 02:05 PM   #4
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How do I apply for one of these "loans"? I have to...uh...buy cows...for my farm...in my third world country. Don't worry, I'll pay you back.
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Old 10-17-08, 10:05 PM   #5
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We did this last year. On the website we found a woman in Afghanistan who wanted to borrow money, about $270US, for their "bike shop." Her husband and son were doing the mechanical work on the bikes. We lent $25. We wanted to lend more but Kiva was limiting it to $25 each at that time.

We got periodic emails about how much they had paid back and eventually got our $25 back.
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