In these times of financial crisis, one of the things that we are all learning…if we didn’t already know it…is that business runs on capital. But what if you’ve got a business that is so small that no bank is willing to bother with you? What if you are in a part of the world known for instability and no bank is willing to take the risk? Where do you go for the $500 that would make all of the difference in improving your business and enabling you to hire employees, and feed you family, and send your children to school?
You turn to microfinance organzations that make loans to businesses all over the world. Where do these micofinances organizations get money, well until recently the answer to that was wealthy philanthropists. But now small business owners all over the world can turn to people just like you and me through an organization called Kiva that matches donors to small business owners.
For just $25 you can change a business and through that business, you can change a family, a community, and with enough of us working together….the world.
And after your small business owner pays back your $25, you can take the money and spend it on a manicure or going to the movies….or you can lend it again. And again.
Please at least go take a look at Kiva and see if you might be willing to help with a loan of $25 or more. And if you go and there aren’t any available loans for funding, please know that it isn’t always that way. Sometimes there are 500 business owners waiting for loans. Recently, Kiva changed the policy of waiting until a loan was entirely repaid before freeing up the money that was paid back to withdraw or re-loan. This freed up a LOT of money to loan and there has been a temporary shortage of loans available for funding. But new loans are added all of the time and I am sure that the shortage of needs is only temporary so if Blog Action Day has things jumping on Kiva even more than it has in the last month, PLEASE check back.
What are the odds that these business owners will actually repay you? Pretty darn good actually. As of October 13, 2008, the average default rate is 1.34% with a delinquincy rate of 4.03%. You can increase those odds by choosing to lend in politically stable areas with microfinance organizations with well-established track records of payment. The choice is yours. You can make loans in particular sectors of the economy, to women, or men, or in particular countries or regions of the world. You can take a chance by loaning to those in Iraq or other troubled areas or choose a less troubled region.
Two more things. Would you let me “invite” you to Kiva? (Just email redneckwomandesign [at] yahoo [dot] com and I’ll get an official email invite to you from the Kiva website) I’d kind of like to see what impact my blog has made. And once you join, would you consider joining Team Catholic, the group of Catholic donors on Kiva? I know that there are more of us on Kiva than have actually joined.
Where else can you get such “interest” out of a small investment of $25? You can change a life, and when you are done changing one life, you can take the money and change another one. It feels good and I am not the only one who thinks so. Here is what one Team Catholic member says about her experience with Kiva
Although I just joined the Catholic team last month, I have been contributing to Kiva since March ‘07 and within 6 months time made 6 $25 loans. I have now grown those original loans to 22 by reloaning. What a wonderful way to give a gift that keeps on giving. I have also given 4 gift certificates to family members as birthday/Christmas gifts. Hopefully, these family members will spread the word too. I believe Kiva is a wonderful way for me to live my faith as a caring & compassionate Catholic. ~Nancy from Team Catholic
LORD, who may abide in your tent?
Who may dwell on your holy mountain?
Whoever walks without blame,
Doing what is right, speaking truth from the heart;
Who does not slander a neighbor,
Does no harm to another, never defames a friend;
Who disdains the wicked, but honors those who fear the LORD;
Who keeps an oath despite the cost,
Lends no money at interest, accepts no bribe against the innocent.
Whoever acts like this shall never be shaken.
Psalm 15
Other Blog Action Day Posts to check out:
14 responses so far ↓
1 kouji haiku // Oct 15, 2008 at 1:29 am
lovely.
i’m unable to make a donation at this point, so for now, i put up the kiva banner on my blog, and wrote haiku in relation to it.
saw this post via the front page of blog action day. it’s great that you’re participating.
2 Sister Spitfire // Oct 15, 2008 at 8:22 am
Thank you Kouji!! When I get a minute today, I will edit this post and include a link to your haiku.
3 Ed Thomas // Oct 15, 2008 at 8:36 am
Kiva is an excellent organization that is actually making a significant difference in peoples lives. I have been a member for over a year and beleive that each and every one of us are doing God’s work.
Ed
4 Sister Spitfire // Oct 15, 2008 at 8:38 am
Thanks for stopping by Ed!!
5 Blog Action Day Idea: Microfinancing - Money & Investing - Banks.com // Oct 15, 2008 at 10:11 am
[…] Catholic Spitfire Grill […]
6 Chris // Oct 15, 2008 at 10:17 am
What I love most about Kiva is the greater freedom it gives. I had to stop thinking of it like a traditional “charity,” since I eventually get every “donation” back that I make, and can re-gift it over and over. I don’t have to dig deeper. If I just do it very month for a year, eventually it’s a perpetual giving machine. My little $25 helps one business after another after another.
7 Sal // Oct 15, 2008 at 10:35 am
well, I call this serendipity!
I just got my oil check, so thanks for the tithe suggestion.
8 Sister Spitfire // Oct 15, 2008 at 1:51 pm
That’s something I love about Kiva too Chris, if you put in even a small amount each month over time you can end up making a lot of loans!
9 Sister Spitfire // Oct 15, 2008 at 1:52 pm
That so good to hear Sal! I hope you enjoy Kiva as much as I do.
10 Jim // Oct 16, 2008 at 5:42 pm
I am new to Kiva and count myself blessed to have been made aware of this method of helping the poor in the developing world. It’s easy to do the right thing!
11 Jim // Oct 17, 2008 at 11:54 am
Wonderful blog. Thank you for spreading the word about Kiva.
12 ooopinionsss // Dec 2, 2008 at 8:49 pm
How you think when the economic crisis will end? I wish to make statistics of independent opinions!
13 Erynccava // Jan 30, 2009 at 6:43 am
Hello, I can’t understand how to add your blog ( catholicspitfiregrill.com ) in my rss reader
14 Sister Spitfire // Jan 30, 2009 at 9:32 pm
Erynccava, I confess to you that I am a blog idiot. I had a nice simple blog that I could understand and work (it’s still available at postscripts.blog.com same content, different address) and then a friend assured me that she would help me if I would get a dot com address. Well she did set it up and then she got busy and here I am with this blog that I am terrifed to change lest I crash the whole thing!! Bottom line…I don’t know how to subscribe to my own blog via RSS. I DO know that I love Google Reader because all you do is put in the URL and it figures out how to subscribe for you. HTH.
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