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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