Charitable Loans from Louisville KY to the World
Posted on July 30, 2007
I recently found a charitable organization doing great things. Its called Kiva. Following the old saying of “give a man a fish, feed him for a day – teach a man to fish, and feed him for a lifetime”, this organization takes monies and loans them out to persons in poor countries to start or maintain businesses. These persons wouldn’t normally have the ability to borrow money from any source.
The way it works – you sign up, select a person you would like to help – and then your money that you loan is combined with other person’s money that they have loaned, until the total amount needed to help that person is reached. The person receiving that money then makes payments for the money he borrowed, as outlined with whatever terms are in that person’s profile.
I’ve been told that they have a very high repayment rate, one source saying that it was in the 95% range. So, when you get repaid your loan – you can then lend it back out to another needy person.
Very creative and easy way to help others in need, help themselves. You can read more about the program here. And you can see Jon’s profile here, and Jennifer’s profile here.
Seems like a really great way to give back to others – and help them have a shot at making it in their various endeavors.
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