Tue 14 Nov 2006
On Visiting China and Kiva.org - Loans that Change Lives
Posted by Farshid under Good Sites , Personal ThoughtsThe last few weeks, I had the awesome experience of going to China for work. I was in Shanghai the whole time and that was plenty by itself as there seems to be no end to this giant megacity. The people are very friendly and forthcoming, but unfortunately communication becomes an issue as almost no one speaks or understands English. I saw a lot of tourists/foreigners walking around so it seems like Shangai is giving Hong Kong a run for its money in being a world metropolitan. All in all, apart from the mad traffic and air pollution (similar to LA), it really is a must see place.
The second topic I wanted to write about is Kiva.org. This non-profit organization which its name means unity or agreement in Swahili, was started in 2004 and although is still in the process of becoming self sustainable (by 2008), is currently being funded by a number of angel investors, including Microsoft Research. Here is how it works:
“Kiva lets you connect with and loan money to unique small businesses in the developing world. By choosing a business on Kiva.org, you can “sponsor a business” and help the world’s working poor make great strides towards economic independence. Throughout the course of the loan (usually 6-12 months), you can receive email journal updates from the business you’ve sponsored. As loans are repaid, you get your loan money back.”
Here is a list of people and businesses who need a loan that would change their lives.
November 15th, 2006 at 8:07 am
Thank you for adding Kiva to your blog (which in Finnish means fun.
This is an amazing idea. Compared to giving to a charity, not knowing what happened to your generous gift, with Kiva you are updated on the progress of the entrepreneurs and you are more likely to get the money back and keep on giving to others. With the same 50 dollars that you might spend on dinner you are giving a much needed boost to an acocomy in need and make dreams come true. It is a gift that keeps on giving throughout the year.
I have already added it to all my wish lists.