KIVA.org Atheist group breaks US $1 Million!
Posted by admin on 01.27.09 6:44PM under fixing things
On October 7, the Atheist, Agnostic, Skeptic, Freethinker, Secular Humanist and other Non-Religious (AASFSHNR) team passed the amazing sum of US $1,000,000 in loans. Join us!
Want to make a difference, and do it nearly for free? Kiva.org collects small amounts from individuals (as little as $25) and lends the money to poor entrepreneurs with humble business plans. The site allows you to pick who you lend to, and to track their progress throughout the loan. You can watch as loans are repaid and your account is credited. All accounting is in the open, and repayment rates are exceptionally high.
Kiva.org is also a social site. You can chat with other lenders from all over the world by joining one of the over 450 existing communities, or by creating your own.
As a strategy for alleviating world poverty, microlending has many advantages over traditional charitable approaches. For lenders, it is much more sustainable since each dollar can be re-loaned countless times. For borrowers it is more respectful, educational and empowering. Put simply, it’s more effective.
Microcredit originated in 1976 when Professor Muhammad Yunus, Head of the Rural Economics Program at the University of Chittagong, successfully enabled extremely impoverished people to generate income through self-employment and, in many cases, exit poverty.
John Hatch, a Fulbright-trained economist and international development expert—began a similar loan program in Bolivia in 1984. From FINCA International’s www.villagebanking.com website:
The program allows them to obtain loans without collateral and gives groups of neighbors the power to collectively disburse, invest and collect loan capital as they see fit.
Microcredit is increasingly gaining credibility in the mainstream finance industry, and many traditional large finance organizations are contemplating microcredit projects as a source of future growth.
Visit Kiva.org to find out more, and join like-minded people all over the world helping others help themselves!
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