Tuesday, January 09, 2007

KIVA: ONLINE MICROFINANCE

So many people have written about Kiva, both in the general news media and in the Blogosphere that I am almost ashamed to post this Blog. But, to be honest, I just learned about Kiva, and I thought that I was pretty much in the know. So, just on the off chance you have not heard about this great organization I am posting some exerpts from their web site below. After that I have some links to Kiva's web page where they have listed what so many people have said and written about them.


"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.

" Kiva partners with existing microfinance institutions. In doing so, we gain access to outstanding entrepreneurs from impoverished communities world-wide. Our partners are experts in choosing qualified borrowers. That said, they are usually short on funds. Through Kiva.org, our partners upload their borrower profiles directly to the site so you can lend to them.

" Kiva provides a data-rich, transparent lending platform for the poor. We are constantly working to make the system more transparent to show how money flows throughout the entire cycle. The below diagram shows briefly how money gets from you to a third-world borrower, and back!

" Kiva is using the power of the internet to facilitate one-to-one connections that were previously prohibitively expensive. Child sponsorship has always been a high overhead business. Kiva creates a similar interpersonal connection at much lower costs due to the instant, inexpensive nature of internet delivery. The individuals featured on our website are real people who need a loan and waiting for socially-minded individuals like you to lend them money."

KIVA

RECENT PRESS ON KIVA

1 comment:

Tim (volunteer with Kiva.org) said...

Hi Oscar,

Thank you for your post on Kiva. In fact, your writing is very valuable because you are helping to keep Kiva's message organic. If we truly believe that poverty can be eliminated in this generation, we all have to be intentional about getting involved. By writing about Kiva, you've given your audience a practical way to make a difference with microfinance.

Regards,

Tim (volunteer with Kiva.org)
tim@kivavolunteers.org