Here for Good - Kiva Microloans

Posted by Chip Kerr on

So a while ago I was introduced to thing called Kiva and they do what is called 'microloans.' They work in places where the cost to start, or expand, a business can be measured in hundreds, maybe thousands, of dollars. For example, there is a gentleman in Laklubar, Timor-Leste, named Bento who is asking for a loan of $1,000 to buy new tools and supplies to expand his motorcycle repair business. By the standards of the US, that is a small amount of money. In Timor-Leste....

Kiva makes the process easy by spreading out the funding for each project to many people. That means that Bento's loan I mentioned above is going to be funded by twenty or thirty