We had an extra $10 sitting in our KIVA account this month, and after much discussion Tracey and I decided to add US$15 to our account so we could make another loan.
I’m thrilled. We’ve now made 16 loans for a total of $400 (16 x US$25), even though we’ve only added $155 to our KIVA account over the last few years (plus as the money comes back into our account we can get the whole lot out if we want). And now our repayments will be even higher each month – over the next couple of months I’m hoping to build it up so we can regularly make two loans a month.
The way KIVA works is we pick a person or group to loan our money to so they can improve their business or start a business, and they pay it back to us, so then we can lend it out again. This is a hand, not a hand out.
We chose a group of women in Chile for this loan. Part of their application read, “This communal bank is called “Seucheleufu” and it has 20 enterprising members who carry out a variety of occupations. Among them are found: used clothes sales, new clothes sales, grocery sales, sales of fruit, eggs, groceries, leather working, pastry making and taxi and collective transportation service providing. All are residents of the city of Temuco.”
Sounded like a goer to me 😀
For a look at this fantastic institution, click on this link KIVA
When not typing away over here and checking his stats every two minutes Bruce Devereaux hangs out at his ‘BIG FAMILY little income’ Facebook Page.
’raising a family on little more than laughs’