| "J" is a smart man. He is also a very poor man in | | | | although interest may be charged to the |
| a developing African country, with a family to | | | | beneficiary of the loan to help defray costs), at |
| feed, an inadequate housing situation and not a lot | | | | which time you can opt to take your money out, |
| of opportunities. However, with just a few dollars | | | | re-loan it, or donate it to Kiva to either cover |
| "J" could set up a small shop that would bring in | | | | administration costs or to be added into a growing |
| enough money to support himself and his family, | | | | permanent loan pool, whichever you choose. |
| with enough left over to begin saving for a better | | | | Of course, Kiva does due diligence research |
| home. The only problem is, a few dollars might as | | | | before adding prospective loan recipients to the |
| well be a million to "J" given the state of the local | | | | pool and all of the money you put in goes toward |
| economy. | | | | the loan process - Kiva's low overhead is covered |
| That's where you come in. Instead of denying and | | | | by interest charges (if any) on the loans, |
| backing away from the title "rich Westerner," why | | | | fundraising and donations. So far, Kiva's payback |
| not embrace it and use it to do some good? Even | | | | percentage has been 100%, although the |
| if you don't feel rich in comparison to the Jones', | | | | microfinance industry average is 97% so there's |
| when compared to the "J's" of the world you're | | | | always a chance, however small, that you won't |
| Croesus in a spiffy suit. And it really doesn't take | | | | get your money back. |
| that much to do a world of good. | | | | But the coolest part of the whole process is that |
| How much? How about $25.00? | | | | you get ongoing monthly updates about the |
| That's the minimum contribution to Kiva, a new | | | | person or business your money is helping. You get |
| peer-to-peer microloan project that enables those | | | | to see the good you're doing. You can be a part |
| of us who have been fortunate enough to be | | | | of the conversation, as well, by posting a |
| born into a relatively wealthy, first-world situation | | | | comment on the site's update center. Comments |
| to help those whose fortune didn't pan out so | | | | are reviewed by staff and passed onto the |
| well. | | | | business, if appropriate. |
| The concept is simple: First, you sign up for and | | | | So what's stopping you? Go on now - it's only |
| "purchase" a piece of a loan via Pay Pal a credit | | | | $25. What's that these days, for a rich |
| card. Kiva then combines that purchase with | | | | Westerner? A haircut? Dinner out? A Dixie Cup of |
| money from others to make short-term loans to | | | | gas? Whatever it is, it isn't much. But for a poor |
| needy African entrepreneurs. The beneficiary sets | | | | but motivated African entrepreneur, it's the |
| up shop (or whatever) and pays the loan back. | | | | chance of a lifetime to make a lifetime's worth of |
| After the entire loan is repaid, you get your | | | | change. |
| money back (no interest is paid to donors, | | | | |