How can YOU help reduce poverty

During my participation in the Benjamin Franklin Transatlantic Summer Institute in Wake Forest University, NC, USA we all made some 5 $ donations which were used to provide loans to people from the third world countries. The process is more than easy and the system is rather good. If you have some spare money you don’t know what to do with or If you deliberately want to help poor people improve their quality of life through entrepreneurship, keep on reading!

Kiva is a web-based platform which introduces borrowers (people living in poverty yet trying to take control of their lives by starting local enterprises to suport their families and the local exchange of goods) to lenders (people like me and you!). “Kiva works with microfinance institutions on five continents to provide loans to people without access to traditional banking systems. One hundred percent of your loan is sent to these microfinance institutions, which we call Field Partners, who administer the loans in the field“- the website of the organization states.

One of the greatest benefits of this project is that you can actually follow how your money are used and once the borrower gives back the money which he has been given, you receive back your donation and you are free to withdraw your money or support someone else.

If you are already excited to get to know more, read two of the stories of the people we helped and see what their follow up is : )

Click here for the whole story!

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Success!! The loan was 100% repaid

A loan of $900 helped Diana Del Socorro (Nicaragua) to purchase oil, coal, yucca, pork, chicken, etc.

“Mrs. Diana del Socorro is a hard-working and enterprising woman, age 33, who has sold food for 8 years. She started her business with the sale of vigoron– a traditional food that consists of chopped yucca, pork scratchings and cabbage salad–which sells on a small table on the sidewalks.
This business has grown bit by bit and she now has a well-organized location with five tables and sells a greater variety of dishes (roasts, pork with yucca, fried food, etc).”

♥♥

Click here for the whole story!

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Success!! The loan was 100% repaid

A loan of $300 helped Nelly Lucia (El Salvador) to buy products for the business like: rice, meat, cured meats, oil and soft-drinks.

Nelly sells food and refreshing beverages. She’s a single mother of three children who are 15, 17 and 26 years old. She’s been in business for 10 years and started it on her own initiative. She works every day from 8am until 6pm.
She is currently asking for a loan to buy merchandise like rice, meat, cured meats, oil and soft-drinks to make the food. This loan will help her business stocking it with everything she needs to meet customer demand as well as benefit herself with increased sales.
Her goal is to help her children in everything they need and this is why she keeps the business stocked with all necessary materials to offer customers the best possible dishes.

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