Kiva is a non-profit organization that seeks to alleviate poverty by lending money to people in need, individuals can lend as little as $25 to help people around the world.
So how does it work:
- Browse the various borrowers and choose one
- Make a loan (minimum of $25)
- Get repaid (as the borrower repays the loan the money becomes available in your account)
- Repeat (you can use the money to fund a new loan or withdraw it and use it somewhere else)
“We envision a world where all people – even in the most remote areas of the globe – hold the power to create opportunity for themselves and others. We believe providing safe, affordable access to capital to those in need helps people create better lives for themselves and their families.”
Kiva is based on microfinance. Microfinance is a general term that describes financial services to low-income individuals or to those who do not have access to typical banking services. It supports the idea that low-income individuals are capable of lifting themselves out of poverty if given access to financial services.
Kiva’s current repayment rate is of 98.79%
Help someone out today, It’s only $25.