After last week’s failed attempt to loan some money, there are a bunch of Nicaraguan entrepreneurs on Kiva to whom we can loan our CAN $330. I went through the list, and picked three possible candidates, based on the amount of money they need. Here’s a little blurb on each of them. Click the link to read more about them. They’re translated from Spanish, so the English is a bit peculiar:
Mario Francisco Siero Valle is 51 years old and lives outside Ticuantepe. He will use the loan to buy staple foods and school supplies as these sell well at the beginning of the school year.
Doña Reynalda has a general store and from her home, she sells fritanga (grill food) in the evenings. She has nine years of experience. She began with her own capital, selling a few products, and has continued growing and improving the economic situation of her family. With this loan she wants to buy products to stock the general store and offer her clients variety.
Roman Alberto Sandoval Mejia is a small-scale rice grower who is well-known in his community because of his dedication to this crop. Mr. Roman will use this loan to participate as a member in the construction of a rice threshing machine, thus he can reach his dream as a rice grower.
Now let’s vote on who the loan should go to. RSS readers, this blog post has a poll embedded in it, so please click through to the post to vote.
NOTE: The order of the people listed below may not match the list above. So make sure you pick the right name. I know, I know. I am dumb.
UPDATE: Predictably, in the ensuing 24 hours, most of the loan that Roman (the most popular choice) needed had already been fulfilled. So out of the US $267, I completed Roman’s loan with US $200, paid $50 to Doña’s loan and gave the remaining $17 to Kiva for administrative expenses. When these loans come due in twelve months, I’ll repeat this selection process for new recipients.
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?
It’s the holiday season, and I’m down near the equator. I thought it’d be a great idea to try to raise some money to make a Kiva loan to somebody in the region.
I’m using ChipIn to collect the money, and then I’ll choose an entrepreneur on Kiva to donate it to (suggestions will be welcome). I’ll follow up in the new year with details of where the money went.
If you’ve enjoyed my blog this year, here’s a good way of saying thanks. Skip your mochaccino and pumpkin scone this morning and donate five bucks to the cause. It’ll go to good use, and as it’s a loan that can be used over and over again once it’s paid back, it’s money that will, as the kids say, keep on giving:
If you’re unfamiliar with Kiva, they’re an extraordinary success story in micro-lending to the developing world. Instead of donating money to a charity for food or development aid, you loan money to an entrepreneur who pays it back over a specified period. It’s that old teach-a-man-to-fish thing, writ large. They’ve loaned $1.2 million dollars in the last seven days. Seven days!
I’d like to post, as the kids once said, shout-outs to those who made donations. Feel free to leave a comment here, or in the payment process, or drop me an email. Thanks in advance!
UPDATE: I should have mentioned that once the first loan is paid back (the default rate at Kiva is 2.8%, so the odds are good), I’ll loan the money out again. And again and again.
Speaking of Kiva, I’ve already received most of my first Kiva loan back. I’ve loaned $25 of the returned money to Rika Ally Ibrahim, a Tanzanian juice and clothing seller who wants to expand her inventory. Maybe you want to help her (or any of the other worthy folks on Kiva) out, too?
Traces of Hope is an alternate-reality game being launched by the British Red Cross. I’m both fascinated by and skeptical about ARGs (plus, I have a bit of a crush on ARG guru Jane McGonigal). I suspect that they’re way more effective for social marketing for causes than for corporate promotion. I may write a little section of our book on ARGs, just so I have an excuse to do more research about their efficacy.
And to my Jewish readers, let me say “shana tova umetukah”. Or, at least, that’s what Wikipedia says I should say. I was going to go with ‘mazel tov’, but what do I know?
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.
