Thursday, June 5, 2008

Microlending

When I was at BYU, I remember hearing about microlending revolutionizing the way we help people. The basic principle is giving small loans to individuals or small groups to help them establish or further their businesses by buying essential equipment (e.g., sewing machine or fridge) or inventory. Warren introduced me to Kiva.org, which accepts $25 donations. When the loans are paid back, donors can choose to either withdraw their money or reloan it to someone else. I like that they provide profiles of the people and their businesses, so you can choose a specific person to support.


Another organization that I really like is Heifer International (heifer.org), which allows you to purchase an animal or a share of an animal to give to a family in a developing country to help feed them and provide them a way to support their income (selling eggs, milk, etc.). The recipients also agree to share young with those in need to pay it forward.

I like that these organizations fill a real need while empowering those who are being helped to in turn help others. :D

1 comment:

Miss Megan said...

I have actually heard of both of these ideas. KIVA was from an Oprah show last year, and Heifer was back in my college days. Unfortunately I never followed-through on either of them. Thanks for reminding me that there is more to this world that myself. Did I mention I love that you're my friend?