Wednesday, December 16, 2009

Help Entrepreneurs Around the World with Kiva!


I loaned money through Kiva a while back when I saw it on Oprah and just re-loaned money to a couple other hardworking women.  You choose entrepreneurs around the world in struggling economic areas to help them out with their businesses.  They repay the loan and you can then withdraw the funds or give other loans.  It’s a great way to help others with their livelihood even if it’s from far away.  I thought some of the many inspiring readers of Mommy’s Idea would be interested . . .

Kiva's mission is to connect people through lending for the sake of alleviating poverty.

How Kiva Works

1) It all starts with our Field Partners, which are microfinance institutions operating around the world. Our Field Partners approve and disburse a microloan to an entrepreneur in their community. They take a picture of the entrepreneur and write down the entrepreneur’s story.

2) The Field Partner uploads the entrepreneur’s profile to Kiva’s website.

3) Lenders like you browse the entrepreneurs’ profiles and choose someone to lend to, using PayPal or their credit cards.

4) Kiva provides the funds to our Field Partners by aggregating the loan funds from all contributing lenders.

5) Over time, the entrepreneur repays her loan.

6) When lenders get their money back, they can re-lend to another entrepreneur, donate their funds to Kiva (to cover operational expenses), or withdraw their funds to their PayPal accounts.

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