How Do You Help The Working Poor With Kiva?
Kiva is a website that allows people to lend small amounts of money to entrepreneurs in third world countries. Many people do not understand what Kiva is or how it works, so I will explain it in this eHow. In the third world there are many entrepreneurs who want to grow their businesses, but in order to grow their businesses they need loans. The problem is that they cannot get loans because they have no collateral, and the moneylenders in their own countries often charge extremely high rates of interest. What Kiva does is allow you to donate $25 dollars to the person in need via a field partner. The partner will distribute the loan to the person in need. The partners do charge some interest rate, but it is much lower than the prevailing rate in that country and is due primarily to the fact that the field partner has to do due diligence on these loans. Over the course of the loan you will get small repayments from the person you lent money to. By the end, you should have your full $25 b
