Kiva Entrepreneurs Review
Let me first start by telling you about Kiva (www.kiva.org), it’s a website that allows individuals, businesses and charities to loan out money from $25 + to people in many poverty ridden countries who have businesses and need financial help. Although you don’t make any interest on your money it still remains a risk as there have been examples of illness and livestock deaths which result in the money not being repaid.
Many entrepreneurs do come with Default Protection- In the event of an entrepreneur default, the Field Partner will cover the loan principal.
Last December I decided to give something back and loan out $25 to Tolibjon Kazokboev, a gentleman in Tajikistan who need a total of $1500 to purchase more dried apricots for his business. More info here – http://www.kiva.org/lend/166028
I only decided to get involved as I’m an entrepreneur and wanted to give the opportunity to someone else like I have. So far 40% of my loan has been repaid and will likely re-invest it in someone else in the future.
Repaid so far = $10.25
Outstanding = $14.75
