| (no subject) |
[Dec. 9th, 2006|05:00 pm] |
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2. you are not on my friends list.
kthxbye |
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| kiva.org |
[Jun. 21st, 2006|12:45 pm] |
I just found an awesome website: http://www.kiva.org/
It is a website where you can loan money to very small businesses in 3rd world struggling countries. You can loan anywhere from $25-$1000 and in a certain time frame, usually about 1 year later you will get that exact amount back. The repayment rate is 98%, basically meaning there is a 98% chance you will get all of your money back. it is a win win situation. The only loss to you is the small amount of interest your money would gain you over that time period.(aprox. $1 per every $25 given at 4.00%)
Example: A guy is requesting a $500 loan to open a small grocery store, so far $75 has been lended to him.
"Kaeiv Navy is married and father of children. He is working at the National Assembly of Cambodia, as a support staff.
He applied for a $500 loan for his wife to open a grocery shop. She used to run a similar business but the family sold it a few years ago, when her eldest son got married. Navy’s wife will use the money as a running capital to purchase spices and other goods to be sold in the shop. They are expecting 10,000 Riel ($2.5) profit from the shop every day, which will cover daily expenses for food.
This is the first time Navy is borrowing money. “If we are successful, we will increase the size of the business step by step with our future loans”, he said."
http://www.kiva.org/app.php?page=businesses&action=about&id=485
I think EVERYONE of you can lend $25 to someone for 1 year. While donating money to different organizations is a great idea aswell, there is usually alot of overhead associated with those companies. With Kiva, all you do is paypal the money to them and then they give it directly to the people who request it. While giving people free food and other goods is wonderful, the only thing that helps in the end is the ability for that country to sustain its own economy and support itself with its own money from trade. Small businesses are the key to any countries' economy. IMO, it seems like giving loans to small businesses is one of the ONLY ways for any country to get on its own feet and support itself. |
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