Friday, April 4, 2008

Brilliance in action!

I came across Kiva.org recently and am so impressed by their work, I wish to become part of them or similar organization one day God Willing ( insha'Allah ;) ).

What they basically do is let people like you and I lend money (starting as low as $25) to anyone around the world too poor to benefit from regular banks etc.. This model is known as microfinance. I just signed up 6 businesses.

This is all you gotta do:

1) Go to http://www.kiva.org/app.php?page=businesses

2) Select someone from the list or refine your search by region, gender etc. and click on "more>>"

3) Click on "Checkout>>", unless you want to add more loans.

4) Donate some money to kiva itself for running this effort, if you like.

5) Go through the sign-up process and bam! You're in business.

The crazy thing is that this is not even a donation, you get your money back as the borrowers pay you back (there is a small risk involved of course should the borrower fail to pay you back on time but turns out microlending has return rates that surprised even the most accomplished of the lenders/bankers!).

So you can use the same money over and over to help more and more people. I personally can't think of a better way to enable people to help each other with minimum physical or monetary input and maximum output, hence, the title. ;)

Good Luck!

2 comments:

  1. I actually know of a better way!

    http://freerice.com/

    You play it and it donates rice. No catch, no scam... verified by a couple of sources I know.

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  2. LoL that is pretty sweet! Although it treats the symptoms of poverty while kiva goes for the roots!

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