I’ve often written about the tremendous gap in worldwide wealth and how it’s increasing. Recently, a friend of mine recommended that I check out Kiva, a non-profit organization that allows people to make donations to support business people in other parts of the world. I recently joined the service and made small donations to several of their businesses.
While there are numerous services that help others financially, I like the fact that this one seems to promote responsibility for the borrower. Since these are loans (and not donations), they should ideally favor people who have the will and determination to put it to good use. Certainly, there will be diversion of some funds. But, the site claims that nearly 100% of loans are repaid.
Currently, there aren’t as many potential businesses to choose from, but I hope that this is a good sign. While the site claims that more than $13 million dollars has been donated, that’s hardly the same amount as the U.S. spends on war in a morning. Still, it is good to be helping out somewhat.