Kiva Is an initiative of volunteers who set up in 2005 a project based on micropayments using the potential that the technologies now offer. Over time, it established itself as a non-profit San Francisco based organization with the mission of connecting people through poverty alleviation loans. Leveraging the Internet and a worldwide network of microfinance institutions, Kiva enables individuals to lend as little as $ 25 to help create opportunities around the world, as I show the following example:
The need: There is a lady who 200 miles from Lima, requires the equivalent of 900 dollars to supply her small grocery store, and is willing to pay for it.
The opportunity: There are people in many parts of the world who would be willing to give 15 dollars to projects like this, if she will pay them. Other 100 dollars, other 40 cents, etc. And even more attractive if you will have a return as a loan.
The solution: Kiva implemented a platform through which people can see the data of the lady, her economic condition, her environment, what she aspires to, and bring her what is at will. Once many add up and reach the goal, the lady receives the money, signs a payment commitment with a microfinanciera that promotes the project in Peru, and will be paying on a monthly basis. She receives her loan, and those who loan her will have it again.
It is an interesting alternative for those who aspire to loans and also for those who have a few dollars that instead of giving them to a stranger in the corner of the traffic light can help people to get ahead. All projects apply to human development processes, such as improving housing, strengthening small businesses, completing studies or new projects.
I like the model: Look for a need, borrow it, receive the payment, return it to do. Although I am surprised how they brought such a simple idea to a global environment.
Over time Kiva has reached more than 800,000 people, 62 different countries, more than 330 million in loans and an 98.94% repayment rate.
Once inside the platform, you can search by country, by amount and also Kivadata, Which shows interesting statistics on the behavior of this model and other interesting applications included for mobile.
Interestingly, you can see the progress of a loan application and on a map you can see where people are collaborating.
So, it's all right for you. Either because you have 5 dollars in PayPal with those who do not find what to do, or because sooner or later you could apply for a loan.
Temporarily, if you promote other people to register you will receive 25 dollars in bonus, which you can not use for your expenses but you can use it for other loans.