Accomplished another 30 before 30 today! I remember first learning about micro loans when I was in graduate school. What a great idea! Micro loans are a part of microfinance and are considered to be originate from the Grameen Bank. Loaning someone a small amount of money to help them start or continue their business is intended to support entrepreneurship, alleviate poverty, and in some cases empower women. It is more powerful and sustainable than giving money through charity. There are definitely critics out there about microfinance, but I choose to believe in it and so today I selected my very first micro loan through Kiva, a non-profit organization. Click here to learn how Kiva works. The best part is, "One hundred percent of your loan is sent to these microfinance institutions, which we call Field Partners, who administer the loans in the field."
Kiva gives you the opportunity to search through thousands of opportunities based on various categories and locations, which was helpful for me since I literally want to loan out money to every project. I searched by women and how much more they needed on their loan. In doing t
Kiva gives you the opportunity to search through thousands of opportunities based on various categories and locations, which was helpful for me since I literally want to loan out money to every project. I searched by women and how much more they needed on their loan. In doing t
Meet Mirna! Mirna is from El Salvador and needs a loan of $300 to help buy personal products for her retail store. "Mirna works selling a variety of cosmetics, lotions deodorants, etc. She has been doing this for the past 3 years with the help of her oldest daughter. She works every day from 6 am until 2 pm. Her business was born out of the need to help with the household expenses. Mirna lives in the company of her life companion and her two daughters. She will use the loan to buy lotion, body cream, lipstick, powder, toilet paper, shampoo, talc, deodorant, soap, etc. With this merchandise she can offer her clients what they need. She hopes to receive more income so she can pay off the loan. Her dream is to have a more profitable business to provide better living conditions for her family." |