Wednesday, November 7, 2007

I'm a donor (lender) now!

I'm very excited to say that I have officially become a lender on now. allows individuals to make $25 loans to low-income entrepreneurs in the developing world (microfinance). By doing so, individuals like you and I provide affordable working capital for the poor (money to buy a sewing machine, livestock, etc.), empowering them to earn their way out of poverty. It's a new, direct and sustainable way to fight global poverty.

Here's a great 15 min video about how Kiva works. It's from PBS' Frontline. Please check it out!

I lent my first $25 to Marta Angelo Buque. She's supposed to pay it back in 3 months. Kiva has never had a defaulted loan, so it's a great track record. This is Marta's bio:
Marta is a single mother of 2. She lives alone with her children and she runs a fish selling business. Her husband abandoned her. Martha entered the program in 2005 as a member of a group. Meanwhile the group has disbanded and she has decided to take out a loan on her own. She has many customers. If the business continues to do well, she plans to build a better house. Marta’s children are still too young to attend school. She plans to register them as soon as they are old enough.

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