Wednesday, October 21, 2009

Microloans... bringing global justice?

I think so!

I made my first micro-loan today to a woman in Nigeria named Mabel who is trying to run a grocery store...
http://www.kiva.org/ if you are interested in more info about micro-financing etc.

It is basically providing a non interest loan to the poor who are attempting to start businesses in order to survive in undeveloped countries.

You can give as little as $25 and eventually (hopefully) the loan will be repaid by the entrepreneur at the success of their work. There is a risk that it won't be paid back in instances like natural disasters, health issues, crop failure etc. To me it seems like a risk that is worth taking for the sake of global justice!

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