So lets say you came up with this great business idea that was pretty low risk and required very little investment. To add a twist to it, lets assume that you're a poor widow and have 3 little kids to take care of and live in a small rented place in a third world country.
Now, I might have gone overboard to paint that picture, but that is usually the profile of most borrowers at http://www.Kiva.org It's just a brilliant idea where Kiva is using the global reach of the internet to make short term loans to people like those. The incredible thing is that out of the $2.3 million that they've loaned out, they have had a 99.80% recovery rate. Try comparing that to the bad debt provision of your local credit union who loans out money to huge corporations ?!?!?
So check it out, you can loan as little as $25 and you can choose the business/entrepreneur you like. And you get your money back within 12-24 months. Now you can touch the lives of real people who need help with a few clicks of your mouse
Cheers :)
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