Kiva: Changing the World One Loan at a Time

This last week I came across a unique opportunity to lend money in the form of microloans of as little as $25.00. In June the San Francisco-based Kiva (a 501(c) (3) nonprofit) began funding entrepreneurs in the United States, in addition to those they already help fund across the world.

Kiva’s simple mission is to connect people through lending for the sake of alleviating poverty. It is the world’s first person-to-person micro-lending website, empowered individuals to lend directly to unique entrepreneurs around the world.

In my first foray into micro-lending, I provided two micro-loans of $25.00 each to women of color looking to fund beauty shops in their neighborhoods. Kiva will provide updates on the entrepreneur’s progress in paying back the loans and growing their business. Once that’s done, I can reinvest my funds in other businesses of interest.

With a default rate of only 1.5% covering $37 million dollars in completed loans, this is an investment I look forward to expanding.


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