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TPRJones 
I saw The Fault in our Stars opening night.
Group: Privateers
Posts: 12384
Joined: May 2004
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Posted on: Oct. 19 2009,17:30 |
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If you haven't heard of Kiva.org, then let me tell you about it. Perhaps you've heard of microloans? If not they are basically small loans given in poor countries to small entrepreneurs. They do a lot of good for the local economies and have amazingly high repayment rates (at least when given to women, apparently).
Anyway, Kiva.org allows you as an individual to assist with this. The people you see already have their loans, but of course this means the financial institution can't help someone else with the same money. So, they "sell" their loans to you to get the funds they need to continue their business, and when that person repays their loan you get your part of it back. You can take it back or give it to someone else.
I guess it can be best characterized as sustainable recycled charity. This would be the first time I've approved of a recycling scheme.
Anyway, I just invested in four small business, and felt like sharing:
Dongor Myagmarsuren is a 35 year old single mother in Central Mongolia. I gave her the last bit she needed to import clothes from China and start her own business.
Los Rob is a 33 years old Cambodian mother of four. She still needs another $250 to put towards expanding her fish and rice businesses.
Chuong Thoeun is 42 years old owner of a small food and drink shop in Cambodia that caters primarily to students and passengers. She's using her success to back this loan for her husband, who will be opening a vehicle repair shop. They still need $125.
Mrs. Pol Bun Village Bank Loan Group is a collective of 13 farmers in a small village in Cambodia. Their land is poor and they need fertilizer. AMK is the finance company, and they specialize in these sorts of group loans. They only need $200 more.
I checked out the record of the companies in each case, and all but one have a history of 100% repayment of all loans. So I feel comfortable that this money will go to a good cause, and come back later to be recycled for more good causes.
THIS is how you do charity in a capitalistic global economy. It's elegantly powerful. I like it!
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Vidi Perfutui Veni
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Mommy Dearest
Ask me about my TMD's.
Group: Privateers
Posts: 1396
Joined: May 2004
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Posted on: Oct. 19 2009,19:26 |
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Sounds interesting keep us posted I may be able to contribute in a couple of months
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Malcolm
I disagree.
Group: Privateers
Posts: 27168
Joined: May 2004
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Posted on: Oct. 19 2009,19:33 |
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I actually read a paper about UIs for microloan apps back at uni. From what I gathered, India is awash in opportunities of that nature.
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Diogenes of Sinope:
"It is not that I am mad, it is only that my head is different from yours."
"Other dogs bite only their enemies, whereas I bite also my friends in order to save them."
Arnold Judas Rimmer, BSC, SSC:
"Better dead than smeg."
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