A very long time ago, I had a History teacher tell me of an organization that allowed people to lend money to entrepreneurs in developing countries. I briefly thought about this idea; an admirable one I thought. However, just as easily as I had heard of this organization I forgot it. At the time I was in high school and so giving out money to people didn’t really appeal to me so much.
Moving a few years forward to the beginning of 2011, I rediscovered this lending organization. Searching one night for a way to give back to humanity or at least help I stumbled upon Kiva. “Loans that change lives” read along with their name. My old teacher flashed through my head instantly.
Looking further into Kiva, I saw how the organization worked, allowing people like us here in the United States to give citizens of developing countries an opportunity to improve their lives. The whole process is simple and effective. A certain amount of credit is bought and stored on your personal account. Then, you may look through a list of possible borrowers with their information of who they are and their reasons for needing a loan. The pictures that come with each description really add life to the whole process. The ability to pick your borrower allows for a personal and intimate connection.
The borrower eventually pays you back in a series of payments; a payback percentage model is available to view. As your credit builds from getting back your money you have the option to relend to other borrowers or transfer it back to your bank. This really is a wonderful gift to the people of the world. In so many countries, it’s very difficult to obtain loans. Kiva has put the ability to give these people, who desire to improve their life, the opportunity to do so.
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