Wednesday, 3 September 2008
Just made my first loan on Kiva, a great site which provides interest-free loans to entrepreneurs in developing countries. It's a beautifully simple business model, offering a (more or less) cost-neutral way to do some good. Profiles of the entrepreneurs seeking funding give the impression of a more personal relationship than just writing a cheque, and the involvement of field agents provides assurance that the loan will be monitored so you have at least some confidence of repayment. In fact, most supporters reinvest when their funds are repaid, and a "my portfolio" page builds up a history of who has benefited from your original stake.