Texas Beauty Labs: Small Businesses Worldwide!

October 15, 2008

Small Businesses Worldwide!

Today I learned about an amazing three-year-old non-profit organization called Kiva - I am so excited about it!

Kiva is "the world's first person-to-person micro-lending website, empowering individuals to lend directly to unique entrepreneurs in the developing world," according to its website.

Anyone interested in lending can search through the profiles of entrepreneurs from different regions of the world. After selecting an entrepreneur, one simply uses a PayPal account or credit card to make the loan and then Kiva collects the funds. The funds are passed on to a "Kiva partner" in the area who is responsible for selecting qualified entrepreneurs and distributing the funds. A chosen entrepreneur uses the funds to expand his or her business and repays the loan over time - typically six months to a year. Updates are provided to the lender.

I believe in donating money to charity, but I also love the Kiva concept because, as its website states, it empowers people in developing areas to lift themselves out of poverty. I also love that Kiva is committed to making "the system more transparent" so that people can actually see where there money is going, what their money is doing, and who their money is touching. In addition, many of the loans are small and a lender has the option of funding only part of a small loan.

I am eager to start browsing through the lists of entrepreneurs in need of loans. Becoming involved in Kiva could be a creative, meaningful staff project for small business teams - how incredible to have your small business play a key role in making a small business in a developing nation a success!

Check it out!

Comments

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I've heard about Kiva. I'll have to check it out; thank you.
Irena
http://www.gingersgarden.com

Posted by: Irena from Ginger's Garden | November 23, 2008 at 10:39 PM

Do you have a viable business but lack the necessary finances to get it off it’s feet?

Posted by: RamonGustav | September 03, 2010 at 09:14 AM

Have you been turned down by other lenders?

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