. I had heard of Kiva.org before, but for some reason when I saw someone posted something about it on facebook today, I rather impulsively went to the site, browsed the many people seeking a small loan, and made 4 $25 loans.
Maybe partly because, just like with the donations of my mother's art to a few non-profits, I want to do good things with my inheritance besides just my retirement.
Kiva has a 97% repayment rate. If it turns out any of my loans are not repaid, I'll chalk it off as a one-time contribution. If they are repaid, and I have every hope that they will be, I will keep reusing the money to make new loans.
You can choose which category of loan types you want to browse. I have a soft spot for women entrepreneurs, and would like to encourage them to achieve financial independence (just like me).
So I donated to a retired woman in Moldova who wanted a few hundred dollars to repair her chicken coop fence. She supplements her retirement with money raised from selling chicken eggs. Her son and grandkids live with her. I liked the photo of her holding one of her chickens.
You get to read a little about the person and why they want the money, along with a photo of them. Since I recently learned from DNA testing I'm half eastern European, I felt good making a loan to a Moldovian resident.
I also made 2 small loans to 2 Ugandan women, one of whom wanted money to purchase organic fertilizer for her farm.
I also made a loan to a Pakistani woman who is a weaver (like my mother) and she wanted money to buy fabric scraps she could weave into yarn for sale. I liked the idea of recycling.
These are real people, with real needs, and if you like the idea of really seeing how your donation will be used (or whether it will be simply absorbed by some faceless charity for administrative costs), Kiva is perfect. Fully 100% of your donation goes to the person you're donating to; Kiva will ask you to add on a small fee to cover their costs, but you can choose not to add that fee if you like.
There were many more people i would have liked to help. Many in countries like the Philippines wanted money for water filtration systems or a latrine. It's very sad that so many in today's world still live in what we might consider squalor.
These are not handouts, these are loans to be repaid. What a great way to help those less fortunate. I may be unemployed right now, but I have been blessed to live in a country like the US with a college education and the ability to buy my own home and support myself these many years. There are others int he world who want to do the same, and sometimes they just need a little leg up.
I just made 4 micro-loans
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September 10th, 2016 at 06:28 pm 1473532118
I read a book several years ago (with real pictures of real people) that had accounts of girls sold into sex slavery and women/babies who died during childbirth because of lack of healthcare and the low value placed on their lives because of their gender. The authors were a couple that were American journalists. The book had such an impact on me and the final chapters addressed my "what can I do?" question. Kiva was mentioned as well as the importance of education for empowering these girls. Statistics showed that the more education a girl had, the less likely she was to get pregnant, sold, or die. As a result, I target my Kiva money to causes that result in education or other empowerment for girls. One loan I made was for feminine products that were supplied to girls because there was a stigma in that culture so girls wouldn't go to school a week a month. The book talked about that situation specifically and how some girls drop out of school once they hit puberty. So sad.
You will get e-mails from Kiva as your loans are repaid. The subject will be "You've received payment on a Kiva loan!" and the e-mail will tell you how much you've been repaid. (sometimes just a dollar or so). But 95% of my loans have been repaid. I get excited when the repayments add up to $25 of credit in my account, because then I can find another woman to help.
September 10th, 2016 at 07:11 pm 1473534701
I was just prompted to go check it out, and I've only invested $50 but managed to give $150 in loans. However, I see one of mine went into default (my only U.S. loan -- figures!). Oh, and sometimes I donate a couple bucks to Kiva when I reinvest. I may put some more money into circulation soon.
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