Tuesday, December 05, 2006

kiva.org


Kiva is a really amazing idea. It provides a place for "microlending" to take place from the 1st world to the 3rd world. According to Wikipedia, microcredit is "the extension of very small loans to the unemployed, to poor entrepreneurs and to others living in poverty who are not bankable." This site enables YOU to loan someone in Ethiopia, for example, $100 to buy a necessary component of his/her business, which they will use to boost their business. They will repay the loan within 12-18 months, and you can loan the money to somebody else! It's an amazing concept, allowing the blessings of our shrinking globe, and our American wealth, to bring about change in far-off, remote places we may have never seen!

Oh, and did I mention that they have a 100% re-payment rate thus far, with over $1 Million loaned...

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