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Kiva: Loans that change lives - Frances Bea
Kiva: Loans that change lives
Kiva - loans that change lives

My birthday was this week, and I found a great thing to do with my gift money. I loaned it through this great person-to-person microloan site. When my money comes back to me, I can choose to loan it out again, or to take it back. In the meantime, I can help change the lives of people trying to pull themselves out of poverty.

My money went toward:
  • A Peruvian agricultural collective, looking to borrow $3025 for 8 months. More than 50 people have contributed toward their loan so far. With my contribution, they're 79% of the way to raising their loan.
  • A Mongolian man who owns and operates an auto-repair shop. He wants to borrow $725 for 15 months to improve his stock of car parts and car oil. 23 people contributed toward his loan, and his goal has been reached.
  • A Nicaraguan farmer, supporting an extended family from his family farm. He wants to borrow $775 for 20 months to become a partner in the construction of a community rice threshing machine to cut down processing costs and improve his farm's profit margin. I am the ninth contributor toward his loan, bringing him up to 32% of his goal.
  • A general store owner in Cameroon, looking to borrow $250 for 14 months. The four people have contributed toward his loan so far have raised 40% of the loan.
I will be able to monitor these loans on the site, and as soon as any of these people begin to repay their loans, I can decide if I want to loan the money out again, or take it back myself.
Kiva - loans that change lives
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