After reading about Kiva on 37 Signals Blog I had to go check it out. Kiva is a really fabulous idea that allows you and me to finance small businesses in developing countries. This is not a hand out, it is a loan (without interest, actually the interest gets paid to the field partner) and Kiva has had a really good record of repayment. The delinquency rate of a Kiva loan is 2.37% and the default rate is 0.25%, compared to the current delinquency rate of sub prime mortgages, Kiva loans are positively risk-free.
Here is how it works
And I am proud to say I made my first micro loan. I lent $25 to DRAME MAMADOU , I wish him luck in expanding his activities and diversify his product range. I encourage everyone to check it out.
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