Organizing for America | WI Stephanie's Blog: Micro-loans for Obama

Micro-loans for Obama

By Stephanie - Jun 29th, 2008 at 11:35 pm EDT

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I have found this great site, kiva.org that allows you to select individual entrepreneurs from around the world and make a small loan. Kiva's "mission is to connect people through lending for the sake of alleviating poverty." I first learned about it through a PBS special and it has passed other inspections for its validity, integrity, and an excellent default rate. Of over 10 million loans made, they only have a 1.9% default rate. The bios include information about their business history and if they have successfully paid back loans in the past. You can make loans of as little as $25, but it's money that can buy supplies, livestock, books, etc. and make a huge difference in people's lives. All of the money goes to the entrepreneur. Kiva requests a 10% donation, but it is optional. (Though I don't tend to mind adding on an extra $2.50 for costs.)

I have made a few loans myself and have been repaid, so that I could loan that money to someone else. It is a gift you can keep on giving. You can also choose to be reimbursed.

I think that Kiva not only embodies the spirit of Obama's candidacy, but of the campaign as well. It is a bottom-up, grassroots organization that brings new hope. There are also lender bios where you can note that you are making the loan in support of Barack's candidacy. Please at least take a look at their website--I'm sure you'll be impressed. You can sign up for this event at: http://my.barackobama.com/page/event/detail/4g2l5

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