Alright so this post is in a round about way what I'm doing in Vietnam, because it involves micro-entrepreneurship, but mostly its about my favourite NGO, Kiva!
What is Kiva? Kiva is an organization that empowers individuals around the globe to lend to entrepreneurs in developing regions. By combining microfinance (small business loans) with the internet, Kiva has created a global community of people connected through lending. http://www.kiva.org/
As most of you know microfinance is a pet project of mine. As most of you don't know, I have given a few donations to Kiva over the years. However today is the first time I've given directly to an entrepreneur, WHAT A THRILL!! Her name is Lux Kongkea, she is a 23 year old woman living with her husband and son in Cambodia. Through Kiva 30 people from around the world (Canada, Sweden, Korea, Australia, US, Denmark etc) have given small loans as little as $25USD to collectively add up to her request for $800USD so that she can buy, raise and sell piglets. Why would she want to raise piglets? Well she and her husband currently work at a golf course for $2.5USD and $3.5USD a day respectively. Its hard to improve your standard of living on a combined income of $6USD a day. So through this loan she'll be able to increase her family income and improve their standard of living.
Lux Kongkea, would not be able to borrow from a traditional bank because she has virtually no credit history or collateral. So without microfinance she would be stuck in the unlucky circumstances she was born into, with no chance to elevate herself and family from poverty. However through microfinance she is given the opportunity people in the west take for granted, the ability to change your circumstances through hard work. Another great feature about microfinance is that its a loan, not a donation, so as the loan is repaid the money can be used again to benefit another entrepreneur, or it can be taken out of the recycling process for the lender's own purposes... I think you can guess what I'll do with mine ;)
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Maybe we can convince the Smith Family donation this Christmas to go towards one of these projects? If its repaid the amount would grow and grow each year! What a legacy!
ReplyDeleteGreat idea Amanda, I'm sure the family will be really excited to be a part of that!! Do you get to choose who you donate to? or follow up with their story as their buissness grows??
ReplyDeleteYes and yes. In fact there is an online journal that the entrepreneur can update along the way to tell you how the business is going and what they're doing with the extra income. I have my email account set up to notify me when updates are made to the journal and when repayments are made. SO EXCITING!
ReplyDeleteI hope you're in the Mormon group on Kiva. It's good times.
ReplyDeleteawesome and awesome! all new info. to me!
ReplyDeleteThere's a Mormon group? Intense, I'm definitely gonna check it out!
ReplyDeleteGreat idea, we'll bring that up. I'm glad you are following your dreams XOXO
ReplyDeleteKiva definitely rocks my face off, good to hear someone else knows about it! :)
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