Paypal meets micro finance

November 1, 2005, [MD]

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 HĂ„klev November 1, 2005 Toronto, Canada
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