Sunday, December 7, 2008

Kiva.org: Helping Adela in Peru

For awhile now, I've wanted to sign up with Kiva.org, which finances micro loans to people who are looking for financing in the developing world. The idea is that if several people help fund a loan in small amounts to someone in a developing country, everyone wins. The individuals or companies that receive the loan are required to pay it back, and give a small overview of what the need the money for on the Kiva.org site.

In the past, I've had paralysis on which person to help fund; there are so many on the site and so many entrepreneurs in the world, its been difficult to decide who to back. Tonight, after reviewing a few profiles, I found Adela, who lives in Peru. She is looking to gather $500 to build a kiosk to sell her groceries, and she will repay her loan in six months. I'm really excited that I've joined the group of people who will be funding her loan. It looks like we will also get updates from Kiva on the loan's progress.

2 comments:

Cold Spaghetti said...

Good for you for signing up and for participating. I work in international health and development (and have lived and worked in Peru), so I'm a bit biased in my enthusiasm. At the same time, I've been critical of microloan programs (this would be the best example... http://www.coldspaghetti.org/blog/2006/10/14/microtruth/ ) but they are a good place to start in being involved in international issues!

I hope you'll continue to update on how Adela is doing -- particularly, I'd love to know which community she is in and more about her.

Paula said...

Thanks for your comment! I very much want to blog again about Adela, her life, and the whole Kiva experience. She only needed a little more money before her loan was filled up.

I'm also planning on just reinvesting my loan amount once she's paid it off, so my hope is that I can help other people out after she's got her kiosk built.