(What is RSS?)
I’m so glad I did my microlending through Kiva. Because I could reinvest my loan money, once it’s been repaid, I’ve now been able to make twelve loans! Eight have been repaid, and turned into loans for four more people. I plan on reinvesting as long as there’s Kiva!
The picture is Tres Estrellas, a group of women in Bolivia which needed a group loan. Some of their family members are also pictured
I was just notified that my first borrower has repaid her loan! This is good news because now I can reassure skeptics that they will get their money back.
For Christmas, my DS gave me a $100 gc from Kiva! That means I had 100 bucks worth of credit to invest in people who needed loans. This time, instead of putting a whole bunch of money on one person’s loan, I picked out 4 people to help. Because Kiva pays back the loans based on the percentage of the loan you’ve made, it will take longer for these loans to get paid back. That doesn’t bother me much because the first two loans should be paid back fairly quickly and then I can take back my money, or reinvest in new people listed as needing loans.
This was a wonderful gift! I’m able to actually improve the lives of 4 people who are working hard to get ahead. That makes me extremely happy!
Looks like she’s getting a new freezer for her shop! I’m assuming they gave her the word that her loan came through this morning.
Babel Fish translation:
nDoña Vicky wants to thank for all the people to them who contributed to their loan, asi like a KIVA and ADMIC by the confidence that offers him, since it it will be able to offer a better service to its clients.
In Spanish:
nDoña Vicky quiere agradecerles a todas las personas que contribuyeron a su préstamo, asi como a KIVA y ADMIC por la confianza que le brindan, ya que con ello podrá brindar un mejor servicio a sus clientes.
Okay, I’m not really a loan shark; loan sharks charge exorbitant interest rates!
I recently discovered Kiva.org, an organization that facilitates small loans from individuals to other individuals who need money to develop businesses so that they (the borrowers) can lift themselves out of poverty. This is the kind of charity that I like to support, hence I am a regular donor to Heifer.org and Children International.
My DS donates to Grameen Foundation which also does micro loans.
the difference between Grameen and Kiva is that the Kiva money is paid back to the lender, and the lender gets to choose the person to whom the loan is made. You don’t have to lend the entire amount a person needs, you can buy “shares” at $25 a piece.
I’m lending to Vicky Ramirez (in Mexico) so that she can buy a new freezer for her business, selling fish. Here is a picture of Vicky. I’ll be sending good vibes her way—Live long and prosper, Sra. Ramirez!
