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06 August 2008 @ 02:46 am
Support entrepreneurs through Kiva Business Loans  
Hi everyone, passing on the word about a great organization with which some of my friends are involved, Kiva Microcredit. You may read about Kiva online at http://www.kiva.org/about - they lend money to entrepreneurs in developing countries, including Uganda, through international partners, and have an excellent record of loans being paid back on time and satisfied customers.

People may go on the site and select a specific entrepreneur or group of entrepreneurs and donate a small amount ($25 suggested, I believe) through PayPal or a credit card and it will be combined with other donations until the total amount the person needs (usually a few hundred dollars) is raised. Donors build a relationship with the business owners receiving the loans via email and letters sent through local organizations and usually receive their money back within a year. Kiva is a well-established organization, receiving corporate donations from Google and Microsoft and other major firms. They have a whole section on loan risk management and due diligence and a very professional finance team.

I looked through the list of projects available for sponsorship and noticed that some of the oldest listed projects, which have not yet reached their funding goal within a month but will still expire from the site, are located in Uganda. Would encourage anyone to consider assisting these entrepreneurs and helping build a more stable society there.
 
 
 
loanssolutions on December 7th, 2011 08:20 am (UTC)
Thanks. Very useful and informative post.

Highly recommended.