Bank of Anne
Normally I'm not a big one for lending money. I tend to generally agree with Shakespeare about "neither a borrower nor a lender be." I don't like borrowing from other people much, either. However, I recently made a small loan that I'm very excited about.
Last month Pete showed me an organization (Kiva) that offers an opportunity to lend money to entrepreneurs in the developing world. They request money for their businesses and you choose which person you would like to help and lend money toward their total loan. After the loan is disbursed, they begin paying it back. The default rate is much lower than I expected.
I loaned $25 to Jemimah Mwerezi, a tailor in Kenya who needed to buy a sewing machine. She had been running a successful business using her neighbor's sewing machine, but the neighbor is not letting her use it anymore. She requested $1200, and her loan was disbursed last week.
I like being able to use my resources to touch one person's life. I have so much, and I'm glad that I got the chance to share a little bit with someone else. I also appreciate that it's not charity, it's empowering people. I made my loan to celebrate getting engaged. I think I will make it a personal tradition to make a loan to celebrate good things that happen to me.
If you're interested in more information, the website is http://www.kiva.org
***Note: I just looked at the Kiva website, and due to a recent increase in publicity, they've funded every business on their website. It says they are currently processing applications for new loans, so if you want to donate, wait a bit and check back.
Last month Pete showed me an organization (Kiva) that offers an opportunity to lend money to entrepreneurs in the developing world. They request money for their businesses and you choose which person you would like to help and lend money toward their total loan. After the loan is disbursed, they begin paying it back. The default rate is much lower than I expected.
I loaned $25 to Jemimah Mwerezi, a tailor in Kenya who needed to buy a sewing machine. She had been running a successful business using her neighbor's sewing machine, but the neighbor is not letting her use it anymore. She requested $1200, and her loan was disbursed last week.
I like being able to use my resources to touch one person's life. I have so much, and I'm glad that I got the chance to share a little bit with someone else. I also appreciate that it's not charity, it's empowering people. I made my loan to celebrate getting engaged. I think I will make it a personal tradition to make a loan to celebrate good things that happen to me.
If you're interested in more information, the website is http://www.kiva.org
***Note: I just looked at the Kiva website, and due to a recent increase in publicity, they've funded every business on their website. It says they are currently processing applications for new loans, so if you want to donate, wait a bit and check back.
posted by anne elizabeth fern @ 4:01 PM
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