'Tis Better to Give...

Because it is AWESOME! Here's why...As I mentioned in a past post, I am a Nobel Prize groupie and when Muhammad Yunus won the Peace Prize in 2006 for the economics behind microloans, I was captivated by the concept. The idea is brilliant that small loans to real people can make a real difference in the global economy. So Kiva.org was created a couple of years ago to facilitate microloans around the world directly to the people who need it, whom you choose, through field partners. One does not donate through Kiva, one invests because the loans are repaid and then the investor can reinvest or pull out of the project. I put Kiva on my 43 Things list and last night I registered, not knowing exactly how everything worked. I found I could create a profile, including uploading a photo (I chose my caricature) and a description of what my motivation is for joining Kiva. The portfolio shows where you are invested, % countries, % female owned, and % type of business, etc. Individual businesses show what lenders are invested and then you can click to see their portfolios. Last night Kiva indicated that it was taking 4.2 hours to fund a business. Pretty fast. Right now they are holding individuals to a maximum investment of $25 per business to allow everyone to participate. The field partners show the delinquency rates of their loans so you can decide where to loan. It is amazing that the Tanzania office can have 100% repayment rate while the US has such credit problems and we are sending debt collection letters to library patrons. Last night I helped a group of Peruvian women get the final $25 they needed to get travel money to sell their weavings in the city and some Tanzanians run a restaurant. I wanted to help buy some charcoal in Dar es Salaam, but I didn't click fast enough. Competition is fierce. Maybe next time.