#94- Spreading the wealth

I work in fundraising as my day job, so it’s interesting to me to learn about all of the different forms it can take. Recently, I’ve been reading a lot about microfinance. It’s certainly not a new concept, but I do feel as though it’s becoming increasingly popular as of late. As Wikipedia defines it, “Microfinance refers to the provision of financial services to low-income clients, including the self-employed. Often, the term also refers to the practice of sustainably delivering those services.” Basically it’s a bank of sorts, where individuals contribute money as a loan to another individual, who use the windfall in order to improve upon or start a sustainable business. Just like a regular loan, they sign a contract with terms that involve the repayment schedule. Am I blabbering? In any event:

I loaned money to a business owner through Kiva.

After doing some research, I found Kiva, an organization that streamlines the process. You can search from thousands of people and families to find the perfect fit for what type of person/business you prefer to support. I chose to loan to a woman in Nigeria who plans to use the loan to buy a freezer for her local shop so that she can stock more products and improve upon food safety.

Fun factor: 10

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4 thoughts on “#94- Spreading the wealth

  1. This is a pretty neat website. Thanks to your inspiration, I will select what I feel to be a good cause and make a contribution.

  2. I am affilated with the “Struggling Orlando-area Firefighter DILFs”. I’m not sure if we’re affiliated with Kiva; however, I would be willing to accept special Gratis Loans on their behalf….

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