This organization, Kiva.org, just came to our attention today. Here is a snip from their Web site:
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!
Here is the link to their Web site if you are interested and would like more information.
