Monday, March 15, 2010

Feel like you need to do something? Here's one way to help

Microfinance is the supply of loans, savings, and other basic financial services to the poor. As the financial services of microfinance usually involve small amounts of money – small loans, small savings etc. – the term "microfinance" helps to differentiate these services from those which formal banks provide. Why are they small? Someone who doesn't have a lot of money isn't likely to want to take out a $5,000 loan, or be able to open a savings account with an opening balance of $1,000. Hence – "micro". (KIVA)

Microfinancing is one of the most exciting global poverty solutions we can be a part of from our own computer screens. KIVA connects people who have money to lend (as little as $25) to entrepreneurs in impoverished areas to start a business that will care for their family. The repayment rate is above 98%. These microloans are changing lives one person at a time over the entire world. Do you have $25 (or more) that you are willing to lend today? 98% of us will get our money back to keep or relend to someone else. GO to KIVA's website now for more information and to make a loan: www.kiva.org

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