Last week I loaned a small amount of money through Kiva.org to Kossi Joseph KOTSI so he could purchase more equipment and supplies for his workshop, and help his wife start up a hairdressing salon. Kossi lives in Toga, Africa. This type of loan is called a microloan or microcredit.
Yesterday I received an email from Kiva that the loan had been disbursed to Kossi.
28 people donated a total of $1,500 to Kossi, and I wish him nothing but the best in achieving his goals and dreams. That’s only $54 on average per person – an easy amount for most of …read more

Put your money where your mouth is.
OK.
After a great discussion about the power of microcredits and microloans I decided to find some worthwhile causes at Kiva.org.
Kiva.org allows you to donate small amounts of money to entrepreneurs and business owners in need around the world. At this moment, most of the opportunities are in Bulgaria, Azerbaijan and Togo. I’m guessing it’s because the loan partners (i.e. credit unions, funds, etc.) that support and manage the loans in those countries are the most active with the project.
These entrepreneurs need the money. They’re trying to improve restaurants and clothing shops, buy some cattle …read more

This year, Muhammad Yunus, founder of Grameen Bank was awarded the Nobel Peace Prize. His contribution to society? The idea of microcredits, which are very small bank loans given to the poor to help them develop their own businesses.
It should be pointed out that Grameen Bank has been very successful making money from microcredits. They’re not a non-profit organization. But in many ways that’s precisely the point; you can help and make money at the same time.
Some might argue the moral implications of getting rich off the poor, but Muhammad’s goal is to help the poor rise up with opportunities …read more