I´ve been talking earlier about Kiva.org as a channel between funds, microfinance institutions and entrepreneurs. And finally i´m also a proud lender, one hour ago i started with a small loan of $25 to a group working with animal sales in Uganda! It´s a big group of entrepreneurs that wants to expand their business in selling goats, i wish them luck and hopefully their complete loanrequest is raised soon.
Kiva.org connects you to specific business somewhere in the developing world where microfinance is needed. Kiva.org is listing all businesses who´s connected to a microfinance institution joining the Kiva program. By lending out as little as $25 to a business you can make huge impact and help them getting economic stable. Usually the loan is repaid between 6-12 months and you receive journals from the business you´re sponsoring.
- serve at least 1000 active borrowers
- be registered as a legal entity in the operating country
- 1 year of financial audits
- have a history of at least 2-3 years lending to people for the purpose of helping them out of poverty
As a social investor you earn 0% interest rate from Kiva. The lending platform Kiva lends out the money to prevailling interest rates.