[Tinalles]

I've just made my second micro-loan. It's really cool - back in the nineties some guy realized that there are a ton of entrepreneurs in the third world who cannot get loans at any kind of reasonable interest, because the amounts they need are so small (a few hundred here, a thousand there) that most banks won't touch them. So he figured that the best way to help those people get loans was to do direct person-to-person loans between people in wealthy nations and those in poorer ones; a micro-loan. It's not charity, even; the recipient is expected to pay it back, usually with either low interest or no interest at all. I think he won a nobel peace prize for the idea.

Anyway, the Internet is really awesome at person-to-person connections like that, and there's this outfit called Kiva.org that facilitates these kind of loans. They partner with local groups across the globe; the local groups find people who need loans, Kiva posts the loan request, and random people from all over make small contributions until the loan amount has been met. Kiva forwards the money to the local group, who gives it to the entrepreneur, who uses it and makes payments over the course of a year or 18 months or so. The payments are collected by the local group and sent back to Kiva. Once it's all paid back, you can withdraw the money or use it to sponsor somebody else.

A while back I lent $25 to a woman in Western Samoa to help her expand her business making hand-woven purses of palm for the tourist business. She paid it back all back over the course of a year or so, and then I lent out the same $25 to a Bosnian woman in the construction business. Today I put in a second $25, this time for a woman running a small grocery store in Mozambique. I thought about lending to this guy in Cambodia, but I couldn't figure out why a fisherman needs lotus plants. He wants to buy fish nets, which I can understand, but the lotus plants didn't make sense to me. Oh, well - he'll probably get his loan.

Anyway, just thought I'd post about this. I know Violabelle does this too, she's the one who introduced me. It's a really great way to help out, and cheap too.
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Keeper of The Remnant Minuon (cognomen Lucy, the Eaten One) and the Emissary Caeli

[horsin'around]

This is fascinating; I remember reading about it somewhere awhile ago, but didn't pay it much mind. It's really beginning to expand!
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Fall down seven times, get up eight. --Japanese Proverb

If you fight for your limitations, you get to keep them.

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Ponce

[Asenath83]

That's a fantastic idea! Thank you for sharing.
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Dubbed Yosef by Asa.
Because Asenath was Yosef's wife.

Keeper of Zaebos' glasses.

[Violabelle]

Yay Tin! Here's my portfolio if anyone is interested. Honestly, it feels really good to being doing something to help the world instead of just talking about it.
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[Tinalles]

Oo, I didn't know we had lender profiles. Here's mine!

http://www.kiva.org/lender/tinman
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Keeper of The Remnant Minuon (cognomen Lucy, the Eaten One) and the Emissary Caeli

[thespaceinvader]

I;m interested in this project, but I'm having a frustratingly difficult time finding out one key fact: what is the interest rate on these loans, and hence,w hat is my return as an investor - I figure you guys might be able to answer that, since you've done it already...
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Keeper of Tristram's rings, and Felucca's very expressive ears.

[Violabelle]

Interest rate is 0- you only get back the money you put intially. It's not a bank, but it's not really a charity, either. So I loaned out my first 25$, got it back in a year, and loaned it out again.
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[thespaceinvader]

OK. It seems something that they're reluctant to talk about on the website.

I might start up an investment sometime soon.
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Keeper of Tristram's rings, and Felucca's very expressive ears.

[YatesOfYore]

I think this is really interesting... I'll have to look more into it when I get home from my trip

(I am also amused that Vi is funding a liquor shop XD)
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Keeper of Nanashi's Vambraces and the Amethyst Trees.

PS: Don't panic! I changed my username - I'm not an impostor!

[Lady Calie]

This does look interesting maybe if i get a job over the summer i can do so but not now when my money = dad's money >.>;;

(i also find it amusing that Vi is funding a liquor store ^^;; )

[Sparrow]

Wow, this is really intriguing. As soon as my next paycheck comes in, I'll do some exploring.

Edit: I wanted to credit Tin or Vi when I registered, but you two have no visible email D: Ah well.

[Violabelle]

When I was choosing my loan that time, I was like, 'how can I not fund a liquor store?!?!'
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[Tinu.]

wow, this is really interesting. If I get a job this summer I'll have to look into doing this. =)
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Keeper of Gaia and all the books on Earthsong

"If you judge a fish by its ability to climb a tree, it will spend its whole life believing it is stupid."
~Einstein

[Tinu.]

(sorry for the double post)
This has really grabbed my interest, so I think I'm going to write my weekly article for Journalism on it. Would anyone object if I quote them?
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Keeper of Gaia and all the books on Earthsong

"If you judge a fish by its ability to climb a tree, it will spend its whole life believing it is stupid."
~Einstein

[Tinalles]

Fine by me.
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Keeper of The Remnant Minuon (cognomen Lucy, the Eaten One) and the Emissary Caeli