25 dollars can go a long way

ECONOMY

by THE OLBIOS TEAM

Kiva is a non-profit organization with a mission to alleviate poverty through lending. 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. All Kiva loans are made possible by their Field Partners, who vet, administer, and disburse each loan (the borrower meets with the Field Partner and requests a loan; the Field Partner disburses a loan to the borrower; the Field Partner uploads the loan request to Kiva, it’s reviewed by a team of volunteer editors and translators and then published on Kiva.org). Throughout the life of the loan, the lender will see progress updates from Kiva via email. As the borrower repays the loan, the money becomes available in the lender’s account. This is called “Kiva Credit.” It can then be used to fund another loan, donated it to Kiva, or withdrawn to spend on something else. Kiva -website   Website: http://www.kiva.org/ The President

 

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