Last month, I asked for donations to make a Kiva loan to some Central American entrepreneur who needs a helping hand. Many thanks to those who have already given.You are all stars of the rock variety. You are:
If I missed any links for anybody, just let me know.
Then I forgot about it for a couple of weeks. But Ed’s post reminded me about it, so we’re back on.
In case you’re unfamiliar with Kiva, it’s a ridiculously successful charity that enables microlending to worthy small business owners and entrepreneurs in the developing world. Here’s a cool little video (great use of video + Google Earth for storytelling) that explains how it works (again, thanks to Ed):
And your money is the gift that keeps on giving. Once the first loan is paid back, we’ll re-invest the money in another deserving businessman or woman. And we’ll do it again and again. How cool is that?
We raised $165 from the site. Julie and I decided to match that, so we’ve got $330 to loan to a worthy entrepreneur.
Choosing the Recipient
Now we need to choose who should receive the money. As it happens, there’s hardly any entrepreneurs in the system right now. It’s a happy problem, as Kiva describes:
Thanks Kiva Lenders! You’ve funded EVERY loan on the site!! To date, Kiva has enabled lenders to send $57,650,285 to the working poor around the world. Currently, we are experiencing a traffic spike and all previously fundraising loans have been fully funded. Our team is working with Kiva’s Field Partners around the globe to approve new loan applications every day.
$57 million in tiny loans is pretty amazing. But what should we do with the cash? Maybe hang onto it for a week or so to see if any new loans come on stream? Any suggestions?
At BarCamp last month, Julie and I shot video of a bunch of people answering that question for DreamBank. If you’re in and around the Vancouver tech scene, you’ll probably recognize a few people in this video:
In the early years of Capulet, as with most businesses, we said ‘yes’ to nearly everything (we did refuse the mail order bride project). For the past couple of years, we’ve had the luxury of being selective about who we take on. These days we have to decline most enquiries because we’re too busy.
We obviously try to choose winners and avoid those companies that give us a queasy feeling in our stomach. But it’s nice every once in a while to take on a client who’s social goals really align with my own. DreamBank happens to be one of those.
On a more ascetic level, I have so much stuff already. So does everybody else in my family (with the exception, perhaps, of my more ascetic brother, and he doesn’t want anything). I have more difficulty creating a wishlist for myself than I do choosing gifts for other people (with the exception, perhaps, of the aforementioned Spartan brother). This isn’t humility on my part, it’s just a lack of wanting things. Particularly things that I don’t choose for myself. I suppose I should just ask everyone to give me vouchers for travelling. Hmm…that’s not a bad idea.
DreamBank is a Vancouver start-up with a mission that addresses this issue. Here’s the elevator pitch:
DreamBank.org is about helping dreams come true and doing it in a way that helps the planet and important social causes. Instead of giving gifts that, although appreciated may not really be wanted, with DreamBank you contribute to someone’s dream. As well as helping fulfill a dream, your contribution helps spare the planet some of the nasty side effects of manufacturing and packaging unused gifts. Plus your gift automatically generates funds that are given to important social causes.
It’s essentially collaborative giving with a charity angle. Or, if you prefer, a gift registry for everything. Here are a few sample dreams:
If you haven’t heard of Kiva, they’re a game-changer:
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.
Kiva was recently featured on Oprah, and in three days all of their small business loan requests were filled. Thus far, they’ve brokered US $13 million in loans between the developed and developing world. It’s an elegant idea–a shift away from traditional giving–and one I really admire.
I’m now a proud investor in Tchabouwe Sibabe. He’s got a 29-year-old father of one who runs a phone repair shop in Togo. He’s trying to raise $1200 to outfit his shop. Why did I pick him? Everybody’s criteria will vary, but I figured that:
He’s young, so my investment will go farther.
By fixing phones, he’ll support other local businesses.
He could, down the road, become an employer.
He’s got a family, so my investment doesn’t just help Tchabouwe, but the people around him as well.
Pack Your Lunch Next Week
If you usually eat out for lunch, pack your lunch this week. Take the money you save and loan it to Tchabouwe, or one of the many other worthy individuals on the site. Or rent a DVD instead of going to the movies this weekend, and loan the difference.
The nice thing about Kiva is that once my loan is paid back, I’ll just roll it into another entrepreneur. Donating money is great, but Kiva enables you to literally give the gift that keeps on giving.
UPDATE: Wow, that was fast. Tchabouwe’s loan is complete at $1200. I don’t know that this site had much to do with that–I think Kiva’s just processing an incredible (and wonderful) volume of giving at the moment. Thanks to anybody who did contribute to Tchabouwe’s loan.
