Microfinance loans are something we are passionate about and have been doing since 2011. As a lender there is no financial gain, this is just something we believe in. The fact that it makes you feel good is a bonus.
By financing an individual or group we are able to empower those living in poverty to better the lives of themselves and their families. Teaching them to be responsible by investing in their businesses/livelihoods. As a lender we lend a minimum of $25 per project. The money we lend is returned interest free when the project is complete, of which we then invest in another project and the cycle continues.
So far through Kiva we have been able to make loans to people in Pakistan, Peru, El Salvador, Ecuador, Tanzania, Congo and Armenia. The most recent being to a small family in Jermuk, Armenia. Who have a beekeeping business which they run, produces and sell honey in the local markets to make ends meet. The plan was to expand her business by buying 10 more colonies adding to the 15 she already has. The goal of $3,000 would be used to buy these, overcome their hard financial situation and take care of both themselves and their daughter long term. Successfully she was able to do this and pay back the 103 lenders who supported her.
Projects like this show how easy it is for us to help people and how much of a difference it makes to the lives of those on the receiving end. What’s stopping you from joining us in lending through Kiva?
Our next loan has gone to an education provider in Gujranwala, Pakistan.