Tuesday, February 22, 2011

Kiva Investment Paying Off Already!

This is the small business that
I'm lending money to as part of a
group of 23 people, through kiva.org
A while back, my friend Al suggested I try Kiva.org. This is a way to lend money, as part of a group of investors, to a very small business that has a plan to repay it but cannot get ordinary credit. It's a practical way to do a little charity in an easy way but with the ability to monitor progress, which I like - throwing money into a pot and forgetting about it seems foolish and also somehow disconnected, less human.

So I put $25 into the pot for a small business run by a guy in Sierra Leone, and then, to be honest, forgot about it.

I just now got a message indicating that my investment has made a difference, and is on track to being repaid (meaning I'll be able to do it again soon). It read:
We'd like to give you a repayment update on the loans you've made through Kiva.

A total of $5.00 has been repaid today! As of February 22, 2011, you now have $5.00 in Kiva Credit in your account. You can re-lend, withdraw or donate these funds! (The minimum lending amount is $25, but you can easily add new funds to existing Kiva Credit to complete a loan purchase.)
Below is the repayment update on your Kiva Portfolio
Minkailu Kamara in Sierra Leone
(Activity: Cosmetics Sales)
You Loaned: $25.00
Newly Repaid: $5.00
Total Repaid So Far: $5.00 (20.00% of your loan)
Repayment Status: Paying back on time
I am very pleased. This is not a huge thing, but it is very satisfying that my small effort is making a difference, however small. And I cannot complain at how easy it has been.
I urge you to consider trying this sort of thing yourself. You can be a microinvestor and make a difference!

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