Kiva
Posted: Sun Jun 22, 2008 2:18 pm
I just found this website: http://www.kiva.org/
The company screens entrepreneurs in developing areas who are looking for microloans, then posts their loan applications online. Anyone who wants to can lend them money in increment as small as $25. For instance, if a potato farmer in Peru loses their seed crop to blight, they can apply for the loan needed to buy new seed to restart their farm.
Kiva's default rate is only 2%, most banks can only dream of that.
I thought it was neat.
The company screens entrepreneurs in developing areas who are looking for microloans, then posts their loan applications online. Anyone who wants to can lend them money in increment as small as $25. For instance, if a potato farmer in Peru loses their seed crop to blight, they can apply for the loan needed to buy new seed to restart their farm.
Kiva's default rate is only 2%, most banks can only dream of that.
I thought it was neat.