Microfinance can help people from all over the world. In a world where the major banks are not the answer for most of the world’s impoverished, the solution to their problems can sometimes be solved with your help.
You might ask how you can help someone from another country. Someone you will probably never meet. One way is through Kiva.
Kiva offers a platform for the poor from around the world to seek a loan. As little as $500 can dramatically alter their life. Their requests are carefully thought out. They have a plan to pay off their loan once they begin to earn the money back.
They do not always manage to pay back their loans but the success rate is high: over 98% to date and money paid back is often re-invested with another loan applicant. In my opinion, it is a great way to contribute directly to somebody’s well-being.
Kiva does an excellent job of providing the back story, how the person plans on using the money and how the loan can change their life and the lives of their family. You can pick from a wide variety of people, donate as little as $25.00 and watch as the person raises money for their goal. Once the borrower receives their loan and puts it to use, you can also track the money coming back in. The lender’s account is credited as the loan is repaid and can be used to help another borrower, donated to Kiva or the lender can withdraw their contribution.
The steps are simple.
- Choose a borrower
- Make a loan
- Get repaid
Use your money to empower people. Make a difference. Change a life.