Tuesday, October 21, 2008

Frugal Lending

by Janet Kinosian

Want to bankroll a small business overseas? At Kiva (www.kiva.org) it takes only a $25 microloan to finance the venture of your choice, be it a seamstress in the Dominican Republic or a baker In Afghanistan. Launched three years ago by Matt and Jessica Flannery, Kiva as of August had attracted more than 300,000 investors, who have fronted interest-free loans of about $38.5 million. The payback rate is above 98 percent, with most loans repaid within one year. And then you can lend the same $25 again!

Source: AARP October-November 2008

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"Simplicity of living, if deliberately chosen, implies a compassionate approach to life. It means that we are choosing to live our daily lives with some degree of conscious appreciation of the condition of the rest of the world." Duane Elgin

"Do what is good with your own hands, so that you might earn something to give to the needy." Ephesians 4:28