Saleh Lie continues to make progress on her micro-loan which started in August of this year. Since it is the holidays- consider micro-funding an entrepreur…

The business you have loaned to, run by Saleh Lie, has made a repayment
of $28.00. The total amount repaid is now $84.00. This repayment will
be divided amongst all the lenders who helped to fund this business,
depending upon the percentage each lender contributed.

http://www.kiva.org/app.php?page=businesses&action=about&id=16574

Please note that these funds will not be credited to your Kiva account
until the loan is repaid in full or when the loan term is complete. At
that time, you will be able to withdraw these funds from Kiva.org or to
re-lend these funds to a new business.
To view your Kiva loan portfolio go to: http://www.kiva.org/app.php?page=account.

For more history on this project visit Curious Cats post. Thanks John.

I am glad I found John Hunter’s information packed blog after his science fiction comment on Ender’s Game…(one of the few who read all the novels I think…ok I suffered through them all.)

While grazing around his site I found this entry on microfinancing.

Business Week has an article on Microfinance Draws Mega Players on how investment banks are getting into microfinance. I must admit that while I certainly am happy if the market can get involved in making microfinance aid development I think it might be better suited to non-profit, foundations and charities. I am happy to continue to fund organizations like Trickle Up to help people help themselves.

Kiva is another interesting organization that lets you loan directly to an entrepreneur of your choice. If fact, I have just placed $350 in loans to 5 business entrepreneurs (in Kenya, Mexico, Cameroon and Azerbaijan) - and a $50 donation to Kiva. Kiva provides loans through partners (operating in the countries) to the entrepreneurs. Those partners do charge the entrepreneurs interest (to fund the operations of the lending partner). Kiva pays the principle back to you but does not pay interest. And if the entrepreneur defaults then you do not get your interest paid back (in other words you lose the money you loaned). I plan to just recycle repaid loans to other entrepreneurs.

Add a comment with a link to your Kiva page and I will add a page to this site with links to all Curious Cat blog readers with a link to Kiva pages.

Related: Microfinance article from the New Yorker - Kiva: Microfinance Loans (posted on Christmas day 2006) - helping people succeed economically

I am interested in hearing about other places like Kiva. I know of Prosper- which is a radically different as Kiva seems to be targeting the truly impoverished- Prosper is free Enterprise taking it away from the Bank…but I like the idea.

At any rate thanks John for your comments on science fiction and I am glad (can’t quite match you) you got me moving in making a difference. In my Kiva case I was able to fund the remainder of a loan for this lady.

Saleh Lie is forty-years old and married with one child. She sells clothes and with her previous loans she diversified her business so that she now sells onions, sauce pans, tomato paste, etc. Saleh also opened a small shop in Kabala’s market and employed her nephew to run it. She is planning to expand her business and build a small family house. Saleh said she would like to save some income to build a small house for her grandchildren. She is requesting a loan of $275 to expand her inventory.

You can start with a very small amount, and it is wonderful to get updates on who you funded and how they fare.

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