# Micro loans through Kiva.org



## rescuepenguin (Apr 21, 2010)

I just finished re loaning some money through Kiva.org. Kiva take money from people and loans it out through micro loans to people, in poor countries, that need the money to grow their businesses, and in turn improve their lives. It works by several people loaning $25 each. Most loans are around $1,000. Each month you get paid back a certain amount, until you are paid back. You don't earn interest, but the $25 loan helps. Once you get it back you can re loan it or take the money back.

I just loaned $25 to a family in Afghanistan, so that they may grow their business selling fruits and vegetables. Each month I will get back a few dollars until the money is paid back.

I hope to turn this into a monthly event, as a family we decide who to loan money that month. I encourage people to visit kiva.org and look at their system, then hopefully get involved. $25 is not much for most of us, and it makes a huge difference lifting people out of poverty.`The best part you get all or some of your money back. The default rate is less than 2%.

Steve


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## Mferko (Jun 8, 2010)

sounds like a great program, i'll look into it.


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## Nicklfire (Apr 21, 2010)

wow, what a interesting type of donation system.

I will definitely be signing up.


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## kelly528 (Apr 21, 2010)

Better idea than giving aid IMO. Anyone here read the book Dead Aid? I just flipped through it at the book story but the gist of it is explaining how the billions of dollars of aid we have been giving to 3rd world countries since the 1980s has done nothing and emphasising that we need to set these companies up in business and buy their exports at fair prices!


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## anessa (Apr 26, 2010)

Kiva is a wonderful program that truly helps people. Thanks for bring this to the attention of people on BCAquaria who were not aware of it.


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## cpool (Apr 30, 2010)

I have just spent at least an hour on this site, very cool, I really have always liked the idea of helping people help themsleves rather than doing it for them. I have travelled to many poor parts of this world and the question I often ask is what can I do to help. Money often isn't the answer to say the least. But I certainly do have a soft spot for poor people and particularily poor families. This is a great way to help some of them out.

Next time I sell some plant clippings or some fish I have breed, I think that money will go to help people who could never dream of having such a fun hobby.


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## rescuepenguin (Apr 21, 2010)

anessa said:


> Kiva is a wonderful program that truly helps people. Thanks for bring this to the attention of people on BCAquaria who were not aware of it.


Your welcome. I've doing this for a year and a half now, and I enjoy it.



cpool said:


> I have just spent at least an hour on this site, very cool, I really have always liked the idea of helping people help themsleves rather than doing it for them. I have travelled to many poor parts of this world and the question I often ask is what can I do to help. Money often isn't the answer to say the least. But I certainly do have a soft spot for poor people and particularily poor families. This is a great way to help some of them out.


You are right money does not always solve the problem. There was an interesting point that came out of the Haiti Earthquake. Yes we need to provide aid to them as quickly as possible, we need to help them rebuild, but unless we help them jumpstart their economy, all that money doesn't do a lot. This where KIva's strength is. It helps provide some funding to help people grow their businesses, the end result is to stimulate their economies.


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