free rommy New York → Kansas City → San Francisco → Stockholm → Berlin

The $100 million global impact of Kiva.org

I received an email from Kiva.org this morning and was completely floored by what I read.

Kiva.org has enabled $100 million in loans between individuals all around the world.

Kiva.org, for those of you who haven't heard me preach about it before here, is a microfinancing non-profit wherein people like you and me, have an opportunity to loan money directly to individuals in developing countries, looking to get on their own two feet, to support their families, and to make a living for themselves in countries where they would otherwise get no support or aid. More importantly, they pay their loan back over a predetermined period, assuming they are able to.

Some other impressive stats (from their email):

• Kiva is 49 months old.
• 98% repayment rate
• 250K entrepreneurs funded
• 587K lenders (Kiva users)
• 185 countries represented
• Average total amount loaned per Kiva lender $172 (including reloaned funds)!

These are some amazing statistics, made more amazing by the fact that Kiva has essentially created it's own massive economy of those with the means lending to those without, and those without paying back.

It's really a gratifying experience and it's extremely simple. As you get paid back, you can then re-loan to another individual.

My personal stats:

• 19 loans totaling $475 lent.
• 19 individuals: 58% female, 42%.
• Countries include: Tajikistan, Uganda, Togo, Cambodia, Palestine, Philippines, Nigeria, Ecuador, Benin, Peru, Kenya, Nicaragua, Azerbaijan, Afghanistan, and Viet Nam.
• Sectors include: food, retail, agriculture, services, housing, clothing, and health

Check out my lender page: http://kiva.org/lender/rommy

I highly encourage anyone with the means to get started. You'll find that it's highly addictive and a great way to invest your disposable income in helping enable and empower others.