One of the most recent third-world success stories has been the use of “microloans” or small loans (usually of $100 or less) to help people start their own business (many times something as simple as sewing or buying a cow to raise).Â There’s a new website called Kiva.org which brings this concept to the web and allows people from anywhere to provide the loan.Â
Using Kiva, you can provide a loan (say $100) to an entrepreneur of your choice.Â This money would then be repaid to you once they are financially capable of doing so.Â So, in essence, this costs you no money AND you are contributing to a worthy cause.Â Personally, I think this is a brilliant idea.
This entry was posted on Thursday, September 7th, 2006 at 12:24 pm and is filed under New Business Ideas. You can follow any responses to this entry through the RSS 2.0 feed. You can skip to the end and leave a response. Pinging is currently not allowed.