Well, today I finally decided to give this whole micro-financing thing a try. Kiva's mission is to connect people through lending for the sake of alleviating poverty. Kiva is the world's first person-to-person micro-lending website, empowering individuals to lend directly to unique entrepreneurs in the developing world. After the loan is given, I will get journal reports and be able to track how much of the loan has been paid back. After the loan is repaid, I can then lend the money to another person. From what I have read, men are less likely than women to repay the loan. I, however, have more faith in my gender, so I lent two half men.
Who I split my $200 between:
Maria Elisa is 45 and from Ayacuccho, Peru. She used to have a soda fountain shop with three employees, but now she wants expand into a full restaurant. She needed a $950 loan to buy rice, sugar, and some more sodas. Why I chose Maria...I liked how she already had a functioning business with three employees; past performance is a great indicator of future success.
Emmanuel Amofah is from Swido, Ghana. He requested $375 loan to buy some palm fruit so he and his machine can produce palm oil to sell at Ayaase Road near Cape Coast. He has been doing this for 2 years now and wants to increase business. Why I chose Emmanuel...he has received schooling through senior high. I am sure it isn't as good as here in the states, but I respect his educational accomplishments.
Mr. Yon Mouk is from the Preak Traeng Village in Cambodia (I have no idea where that is). Mr. Yon Mouk is 46 years old and requested a $2,725 loan to buy some piglets to start pig breeding business. Why I chose Mr. Mouk...I liked his simple idea...pig farmers, like prostitutes, have been around for a long time (well not in Israel).
Mrs. Srorn Chhay is a 38 year old widow from Tep Archurun Village, Cambodia. She asked for $1,975 to buy grocery products to stock her store. Why I chose Mrs. Chhay...from what I could tell her store was the main store in the village...she practically has a monopoly on the small store market...winner winner chicken dinner.
by far and away, the best post you have made on this blog. informative, talks about websites you went to, and also gives a glance at your writing and ideas.
ReplyDeletekeep these types of posts up. when do you expect to be paid back your $200? is there interest? or do you just get your $200 back?
Well with my loans the shortest is 3 months for the palm oil guy and 11 months for the villages in Cambodia.
ReplyDeleteGreat post. I like your decisions.
ReplyDeleteOne thing, you are missing a comma. Normally this wouldn't be a big deal. Unfortunately, in your case, it is. The sentence, as written, asserts that pig farmers like prostitutes (which may very well be true), but not what you meant.
"Past performance is a great indicator of future success."
ReplyDeleteI'll see your sweeping statement and raise you Enron.