Investing Idea: Micro Loans to the Poverty-Stricken
September 26, 2007 by Miranda Marquit
Filed under Finance
One of the big things now is ethical investing. And one way to may money through ethical investing is to help the poverty-stricken with micro loans. Micro loans through such organizations as Kiva and Grameen allow you to loan small amounts of money to entrepreneurs in poor areas of the world. You offer much lower interest than local sources, so you are helping on more than one level. You get the money back through payments made on your loan plus interest.
While you aren’t going to get a huge return on such investments, you will get some monetary return. But the intangible return — feeling good about helping someone else on the path of yielding wealth — can be a reward much greater.
Thanks for that post, what a great idea. Its the first I’ve heard of this and worth checking out. I might even be nice if ‘industry’ groups did the same type of program. Hmmm. Thanks again.
Mark
It would be great if industry groups got involved, or if more people knew about it. You don’t even have to loan the whole amount. Some programs allow you to “invest” as little as $25. What I love about this sort of thing is that helping others in no way detracts from your own wealth.