Loan tiny sums to small enterprises in the developing world
- Hi all,
I read about this on a website today, and thought that some of us here would like to know
about it. I think this is a tremendous idea!
Kiva.org is the world's first peer-to-peer, distributed microloan website. A great idea
where PayPal meets Gates Foundation. The site allows you to lend a small amount of
money, say $25, to needy microenterprises in developing countries. You receive
repayment at the end of the loan period (normally 6-12 months) without interest. If they
default on the loan, your loan becomes a donation though none of the businesses have
defaulted yet. A great low-risk, high-reward idea.