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Micro loan charity

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  • Micro loan charity

    I went to a presentation by this charity Friday night and was so impressed that I am sending them a small monthly donation. Right now they have a sponsor that is matching any donations through the end of July.

    I had heard about micro loans before but the program is just amazing. Basically they use the funds to setup village banks that make small business loans (like $25) along with the loans they have mandatory business and finance training. This is not a hand out, the money is repaid with reasonable interest to the village bank and loaned out again on average three times a year. The repayment rate on the loans is 97%. Without the village bank the only way they can get money is through a money lender (basically a loan shark) that charges extremely high interest rates and requires them to sell the goods back to him at below market value.

    Anyways, I was really excited about this and thought that I would pass it on.

  • #2
    Kiva is another one similar, they do a lot of stuff for third world countries and small or individual businesses there. I joined Kiva and have been paid back 100% so far.....

    These types of programs are great IMO; by spreading the word and having more folks join in, a few $ per person goes a LONG way.
    What if the Hokey-Pokey really IS what it's all about?!

    Kinky Tom!


    • #3
      Kiva is perhaps the only AV123 related charity (loosely related - no MLS involvement) I contributed to that got the money to those intended.

      Jim C