What Kiva Does-
Kiva prides itself on being "the world's first person-to-person micro-lending website, empowering individuals to lend directly to unique entrepreneurs in the developing world". What this means is the lender has the power to choose to whom they make their loan. Lenders can be assured that they are not just throwing their money away because Kiva partners with "expert microfinance institutions" who hand pick qualified, dedicated entrepreneurs to ensure that only deserving people receive the loans. Finally Kiva prides itself on it's transparency, "We are constantly working to make the system more transparent to show how money flows throughout the entire cycle, and what effect it has on the people and institutions lending it, borrowing it, and managing it along the way."
How Kiva Works-
There are five simple steps to making a loan through Kiva.
1. Lenders choose an entrepreneur they want to support.
2. Lenders make their donation using PayPal or Credit cards. Kiva makes sure that the money is passed on to the correct institutions.
3. Kiva's partners distribute the money to the correct entrepreneur, as well as provide managerial training.
4. As the entrepreneurs build up savings they pay back the lender. Updates on the business ventures of the entrepreneur are e-mailed to the lender, and posted on the Kiva website.
5. Lenders can re-lend their money to another deserving entrepreneur, donate their money to Kiva to help cover operational expenses, or they can withdraw their funds.
For More Information-
For blogs, journals, success stories, and an opportunity to lend money go to the Kiva website at; www.Kiva.org
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