Quote:
Originally Posted by Sherri
I just invested $200 on Kiva.com - a website where people (like me) can loan small amounts to struggling entrepreneurs in other countries. I just loaned $50 each to three women in Tanzania and one in Uganda, with businesses ranging from charcoal sales to catering. When the money is repaid, in 10-12 months, I can either take the money back or reinvest it in other people. A young couple started Kiva in 2004 and it has become a huge micro-loan company done totally through the internet.
So many people in these countries cannot get conventional loans because they have no collateral or no previous history. Try to imagine a sheepherder, carrying a traditional spear and dressed in a red plaid blanket, going into a bank and asking for money. Not happening! But they can get online and apply for a business loan and be funded by several people more forunate. What a great idea!! Wish I'd thought of it!
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As long as you're OK with it if the money isn't returned, this is a great idea!
I wouldn't add this to an investment portfolio!
I would think of it as a donation, which may give you a return!
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