"It is every man's obligation to put back into the world at least the equivalent of what he takes out of it." --Albert Einstein
In the 1970s, a few bold business executives left the private sector to take the biggest financial risk of their lives--give loans to third-world entrepreneurs in places like Colombia, Ecuador, and Nigeria who were either unemployed or had no reliable credit history. This practice of giving small loans to those otherwise unable to procure capital has become known as microcredit, or microlending.
Today, microlending has grown like never before--and YOU have the opportunity to be a microlender. Kiva.org allows anyone with a credit card to lend money to those in need in countries across the world, in amounts starting as low as $25. The website has a whole list of individuals seeking loans, with descriptions of their ventures and desired loan amount.
In the coming weeks and months, we will be giving you more on Kiva.org, but for now--visit their website! You can have a serious impact on the lives of others, even halfway across the world.
Monday, October 22, 2007
Micro-Lend a Hand
Posted by ALO at 5:42 PM
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