"I will give a kiva.org loan of atleast $100 to help alleviate poverty in the developing world but only if 35 other people will give a loan on kiva.org (of any denomination)."
— Sheel, Resident of the World!
Deadline to sign up by: 1st August 2006
25 people signed up, 10 more were needed
www.kiva.org is an amazing website that allows people to give micro-loans to entrepreneurs in the developing world for the sake of alleviating global poverty.
There are many businesses available to fund, and the beauty is you are helping people help themselves! You aren't giving out $100, you're just donating whatever interest you would've earned on that $100 in a year.
I'm excited, and think this is a great idea. Hopefully you will too!
Background on Kiva:
Kiva.org is the creation of a software developer who wanted to change the world, one loan at a time.
In spring of 2004, Matt Flannery visited his wife Jessica who was conducting impact surveys for a non-profit in East Africa. During his time there, Matt recognized how small amounts of money could inspire economic vitality and opportunity to transform the lives of the poor in the developing world.
Upon returning to the U.S. Matt and Jessica started Kiva.org, an online-lending platform that allows individuals to loan entrepreneurs in developing countries as little as $25. Matt architected Kiva’s website as an eBay style marketplace, allowing lenders to compare borrowers, make a selection, and then easily send money to the selected entrepreneur via PayPal. As the concept took off, they partnered with microfinance institutions from around the world, which allowed Kiva to leverage the expertise of local institutions with experience in managing microloans. The result today is an efficient way in which lenders are connected to entrepreneurs in the developing world, and a process for microfinance institutions to access a previously untapped source of capital.
Kiva has been live since March of 2005, and is close to funding its 500th loan. Currently operating in 9 countries with 12 partner microfinance institutions, Kiva is changing the world, one loan at a time. For more information please go to www.kiva.org.
Sheel, the Pledge Creator, joined by: