Date:27 June 2007 I Comments: 1 I Views:8,212

As you may or may not know Muhammad Yunus and his Grameen Bank was awarded the 2006 Nobel Peace Prize for their efforts with micro credits (or microloans or microfinance) in Bangladesh.

Providing small cash loans to people in thirld world countries enabling them to start their own small business.

Now you can follow in the footsteps of Muhammad Yunus and make a real difference to the world.

This has got to be one of the best ways to help under privileged people in third world countries, giving them the opportunity to work themselves out of poverty.

The website www.kiva.org makes it all possible. You lend whatever you can towards a persons target amount and when the person reaches their goal and starts to make a profit, your loan is repaid. You will even recieve status reports on how your investment is going.

You will be paid no interest and there is no guarantee that you will ever get your money back, even though chances are high:

So far, Kiva has experienced a 100% repayment rate on all businesses with completed loan terms.

“Prior to Kiva, our Field Partners have historically experienced a >96% repayment rate with the poor they serve.

In the past 30 years, over 100 million of the world’s poor have received a micro-loan and demonstrated a >95% repayment rate. ”

You can lend from USD 25 upwards with a credit card or bank transfer through PayPal.

Visit www.kiva.org and find a project you’d like to invest in!

Category: Loans

Comments

  1. Steve

    This is a great business model evolving in developing countries. People really benefit from this scheme.