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Loan tiny sums to small enterprises in the developing world

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  • Brian Kelley
    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! [quote]
    Message 1 of 1 , Nov 1, 2005
      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!


      [quote]
      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.
      [endquote]
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