I love Kiva
Written by Jay Turo on Wednesday, March 4, 2009
I love Kiva. For those not familiar, Kiva is a person-to-person micro-lending site – allowing individuals, primarily from developed countries, to lend directly to entrepreneurs in the developing world. The borrowers are in places like Cambodia, Bolivia, Azerbaijan, Lebanon, Peru, and Tanzania – and primarily borrow to allow their very small businesses to expand and hire.
Kiva was created in 2005 and originally funded 7 loans for a total of $3,500 which were all paid in full. Since that time, there have been close to 90,000 loans made via the site, valued at over $62 million, and funded by more than 450,000 personal lenders. The current Kiva loan repayment is over 97%.
There are so many reasons why I love and support Kiva:
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