Kiva surpasses $100 million in loans raised!
Kiva, the nonprofit microfinance organization, announced last Friday that they had surpassed $100 million in loans raised for entrepreneurs around the globe.
I have loaned money to Kiva entrepreneurs that I reloan once the original money is paid back. Due to Kiva’s overall payback rate of 97.88%, there is very little risk involved with loaning a small amount of money. Most loans go to Third World countries. You decide who you loan your money to based upon several criteria, include the default rate of the Field Partner, the organization disbursing the money to the entrepreneurs.
A small loan amount can go a long way to lifting a person out of poverty. Since your money helps fund a loan, consider it a hand up, not a hand out. Many businesses in the Western world would not exist without start up capital.
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