Listening to the morning news about the looming recession, 800$ tax rebate and other discouraging stuff, one word sounded different "Kiva". Kiva? I looked up and Ali Velshi was talking about Microcredit and how Kiva is changing lives. I knew about Muhhamad Yunus and how he developed micro-credit into an ever more important instrument in the struggle against poverty.
What does Kiva do?
Kiva lets you connect with and loan money to unique small businesses in the developing world. By choosing a business on Kiva.org, you can "sponsor a business" and help the world's working poor make great strides towards economic independence. Throughout the course of the loan (usually 6-12 months), you can receive email journal updates from the business you've sponsored. As loans are repaid, you get your loan money back.
This is how it works:
Step 2: Make a loan
Step 3: Receive journals and payments
Step 4: Withdraw or re-loan
Kiva is certainly run by a very inspired, talented and diverse bunch of people. Jessica Flannery co-founded Kiva with her husband, Matt. The president, Premal Shaw, is a product of Paypal gang. Olana, COO, a 6-year Google veteran. I love the story how it all started:
Meet the people who run Kiva
See Kiva in Action and how lives have been changed
Make a loan, Make a difference!