Submitted by AndyW on October 28, 2009 - 4:58pm
About six months ago, I read about an organization called Kiva that makes microloans to groups and individuals in economically disadvantaged countries all over the world. These loans, ranging from several hundred dollars to several thousand, represent people trying to improve their business and lives. Microloans are a great way to provide capital to small businesses that are otherwise ignored by financial institutions. (Read about the Grameen Bank in Bangladesh; this Nobel Peace Prize winning organization started lending to the poor in Bangladesh.) Over time, the loans are repaid to your account; you can take the money out or you can re-loan it to other applicants. It is not without its risk. For myself, it’s a worthwhile calculated risk. At best I get paid back so I can make another loan; at worst, I tried and it didn’t work.