Paypal meets micro finance
This is simply awesome! I wish I had thought of that; Kiva is a website gives you the option to make direct microcredit loans to small entrepreneurs in developing countries. You can choose to donate as little as 25$ through Paypal, and throughout the duration of the loan (usually 6-12 months) you get updates from the business, photos of new capital equipment etc. When the loan is repaid, you get the money back, if the business defaults, it becomes converted into a charitable donation. No business has defaulted so far though.
I am definitively going to sign up for this. Capitalism here I come.
(thanks, Boingboing)
Stian
