Tom Pryor writes, “To solve the problem of no income, I prefer helping people start businesses. For example, I participate in Kiva.org micro-loans. Last week I teamed with 20 other people from around the world to loan Cynthia Iligan of the Philippines $650.00 to start a pottery manufacturing business. Her business plan is to repay the loan in 8 months. I receive no interest on the loan. Instead, I receive the satisfaction of knowing I’m helping someone solve a problem, not prolong one. By the way 98.78% of Kiva’s total $100 million loans have been repaid!”

Kiva Microfunds (commonly known by its domain name, Kiva.org) is an organization that allows people to lend money via the Internet to microfinance institutions in developing countries around the world and in the United States, which in turn lend the money to small businesses.

According to Kiva’s website (as of July 25, 2010):

  • Total value of all loans made through Kiva: $150,250,250
  • Number of Kiva Users: 736,410
  • Number of Kiva Users who have funded a loan: 468,971
  • Number of countries represented by Kiva Lenders: 200
  • Number of entrepreneurs that have received a loan through Kiva: 384,318

More Information: Kiva.Org

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