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Share the Wealth

Kiva - Loans that change lives!

I found this website through my constant use of Twitter, its addicting right? It works though; I’m convinced that Twitter will soon over take the news in terms of usefulness. I constantly get updates on senate votes and major overseas events through Twitter.

I digress, Kiva is a micro loan organization that allows supremely wealthy people like you or me (wink) the ability to provide seed money for entrepreneurs in emerging markets, from essentially anywhere you can think of. This is not a donation! You actually receive repayment (normally) within the period of the loan.

All you have to do is create an account on Kiva.org and start lending; just like a banking institution you can use your “micro” loans to finance expansion of emerging markets. The beauty of it is that the minimum loan is $25 so virtually anyone can lend to a small business. The loans are aggregated and disbursed through their lending network. It even accepts PayPal!

I know it sounds like a sales pitch but I was reminded of this by an email that said that I had received my first repayment! Which was $3.50 by the way. Personally I’m not a fan of giving my money away but this allows you to make a loan, with no interest to an entrepreneur who is actively enriching his or her own community.

Use the wealth you have created to actively impact the life of someone around the world, as the entrepreneur produces profits the loans are paid back and you are able to loan them out again. This is a great way to fuel economic expansion in emerging markets without donating your money. It promotes expansion through hard work instead of through pure charity, which I personally Love!

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