Kiva.org

Recently I learned of the program Kiva from a couple of volunteers who have been working in the area of micro loans here in Moldova and contributing to Kiva's website. 

Kiva was created as a means to provide small ("micro") loans to entrepreneurs in developing nations, to give them the capital they need to start, expand or improve their businesses.  My colleagues are having a great time traveling throughout Moldova, meeting and interviewing perspective clients, learning about their businesses and goals, taking their photos and writing up stories to accompany their funding requests on the Kiva site.  It has also been extremely satisfying for them to see very real results for their efforts, as request after request receives funding from lenders abroad, some -- particularly those for amounts in the low 100s -- in as quickly as one day.

As we enter this holiday season, I can't help but notice that Kiva offers gift certificates, a great gift option for those of you out there who would like to give someone a meaningful gift and not just more clutter.  Through my friends' experiences working on this project, I can assure you that helping business people in poor countries like Moldova through Kiva really does make a positive impact on individuals and communities and improve lives.

From the website:

We let you loan to the working poor

Kiva lets you connect with and loan money to unique small businesses in the developing world. By choosing a business on Kiva.org, you can "sponsor a business" and help the world's working poor make great strides towards economic independence. Throughout the course of the loan (usually 6-12 months), you can receive email journal updates from the business you've sponsored. As loans are repaid, you get your loan money back.

We partner with organizations all over the world

Kiva partners with existing microfinance institutions. In doing so, we gain access to outstanding entrepreneurs from impoverished communities world-wide. Our partners are experts in choosing qualified borrowers. That said, they are usually short on funds. Through Kiva.org, our partners upload their borrower profiles directly to the site so you can lend to them.

We show you where your money goes

Kiva provides a data-rich, transparent lending platform for the poor. We are constantly working to make the system more transparent to show how money flows throughout the entire cycle. The below diagram shows briefly how money gets from you to a third-world borrower, and back!

How it works

Step 1: Choose a business

The businesses on our site are always changing. They are being uploaded by our microfinance partners around the world. You can find a new business on the home page or on the Businesses 'In Need' page.

Step 2: Make a loan

When you have selected a business, you can make a loan using your credit card (via PayPal). You can loan as little as $25 at a time. Checking out is easy and safe because of PayPal.

Step 3: Receive journals and payments

Periodically, you will hear back from the business you sponsor. Partner representatives (often loan officers) write directly to the website to keep you informed on the progress of the business. If you choose, you can receive these via email.

Step 4: Withdraw or rel-loan

When your Kiva loan is repaid, you can choose to withdraw your funds or re-loan to a new business.