Lend on Kiva

Have you ever heard of Kiva? It’s a website that allows people like you and me to loan money to entrepreneurs across the world who need it to expand their businesses. There are tons of people on the website seeking loans, and tons of donors who can choose how much they give to whom. Together, many people can help to fulfill a single loan.

I don’t know a lot about economics, but I like this model. While I donate to organizations such as UNICEF which offer help to victims of violence, sickness, etc., Kiva is another way to give. You’re loaning money to an entrepreneur who will use it to grow his business, which will likely lead to more economic development for himself and eventually the community as a whole. Also, there’s a personal touch to Kiva. You know exactly who you’re lending money to, and you even get an update on their progress.

I recently lent a small amount of money to Hamidou Konaté, a husband and father from Mali who wanted to buy more products for his shop. Kiva provided a nice long description of Hamidou and his business, and I just recently got an update about him online:

J’ai acheté avec le prêt beaucoup des marchandises pour ma boutique dans le but d’attirer la clientèle. Ce prêt a apporté un changement positif dans mes activités dans la mesure où avant je partais faire des achats une fois dans la semaine. Présentement je fais deux tours par semaine.Les bénéfices que je trouve me permettrons d’assurer dépenses de la famille. J’envisage agrandir ma boutique.

A rough English Translation:

With the loan, I bought a lot of merchandise for my shop in order to attract more customers. This loan has helped me out as I used to go shopping once a week, but now I do it twice a week. These benefits allow me to take care of my family’s costs (?). I envision my shop growing.

I thought it was kind of nice to see an update, which I didn’t know to expect until now. Anyway, I recommend that you give on Kiva. Of course, there are plenty of other good causes and UNICEF is certainly one of them. So, instead of getting that fast food this week that will probably give you a heart attack anyway, why don’t you put that money aside and loan it to someone who can really use it?

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