Here’s a quick Kiva update; I’m currently part way through participating in my second Kiva micro-loan. The first was to a Vietnamese metalwork shop, as part of a $675 overall loan, which was repaid on time, in full, by February 2012.
This second one is to a lady in Colombia, to assist a clothing business, as part of an overall 1,700 USD loan.
I feel a little bad for her – on her first payment expected in June, she’s a few cents behind, and is thus noted as ‘delinquent’ which sounds quite harsh, but is the term used. Let’s see how she gets on in future.
What is Kiva?
“We are a non-profit organization with a mission to connect people through lending to alleviate poverty. Leveraging the internet and a worldwide network of microfinance institutions, Kiva lets individuals lend as little as $25 to help create opportunity around the world.”
I’m going to add another $25 to enable me to do another loan, and have been looking again at manufacturing, possibly in Mongolia.