Wrapping Up Our Kiva Loans for 2010
For the past four years, we’ve been participating in microloans to small business owners in developing countries through Kiva (http://www.kiva.org/).
For the past four years, we’ve been participating in microloans to small business owners in developing countries through Kiva (http://www.kiva.org/).
Our love-love relationship with Kiva continues. For the past few years, we’ve participated in Kiva’s microlending program, where we pool our money with other lenders from around the world — just regular people like us — to fund business loans for impoverished small business owners in developing countries.
We are proud to be a part of Kiva, a microlending organization that connects regular people like us who want to help entrepreneurs in poverty-stricken areas to be successful in their small businesses. With Kiva, lenders can choose where their money goes by selecting an entrepreneur based on preferences like geographic region, business sector, the terms of the loan, and even gender. As of November of 2009, Kiva had facilitated over $100 million in loans. (They also now allow funding of loans to U.S. entrepreneurs).
At the beginning of this year, we set a goal to fund 10 small business owners in developing countries as part of the Inn on Mill Creek’s 10th birthday celebration. We’re part of a microlending program through Kiva, where regular people like us can pool our money with other lenders to loan to people with small businesses who are trying to lift themselves out of poverty, make a positive impact in their communities and be part of making their local economies stronger. When the business owners pay back their loans, we can either take our money out or invest in another entrepreneur; we choose to do the latter.
As mentioned in previous blog posts, we have spent the past two years helping out small business owners in developing countries by participating in microloans to those business owners through Kiva. It’s a way for us — just regular, ordinary people who have a bed & breakfast in North Carolina — to help in the fight against global poverty.