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Micro Finance Institutions: Loans that change lives indeed
When $25 can change a life
In third world countries it is difficult to raise funds when you don't have all the appropriate documentation. Yet there is no less enterprising spirit there than in other more developed countries.There are epople who do not wish to live on charity, but to earn their money. They just need some capital to start off their own business ventures.
Kiva is a micro finance institution which allows individuals to actually give out small loans via the site to deserving third world business men and women. Anything from chicken rearing to tailoring can be supported by as little as the $25 that you give them. You can check out the site over here www.kiva.org
There are many of us here looking to make money for ourselves, and are from third world countries. We may not be as badly off as some of our fellow citizens, but may not have $25 to spare for such purposes. If you don't have some spare money, you can support them by merely clicking on the links here http://www.smallthingschallenge.com/
My C4 for Africa
While Kiva is global, and now even allows US Citizens to take loans, My C4 is restricted to Africa. Here is how the website describes itself:
What is MYC4?
MYC4 is an online marketplace that connects investors with African Entrepreneurs, who lack capital to grow their Businesses. In Africa, the access to capital and knowledge is scarce, but with the Internet as infrastructure, we bridge the gap between people with means and people with needs.
Through a fair and transparent bidding process, you can help one or several African Entrepreneurs carry out their dreams and lift themselves out of poverty. You determine the amount and the interest rate. Sign up now and make a difference!
It is difficult to imagine that a mere $25 can make so much of a difference till you realize that it actually translates into a few hundred in the local currencies of most third world countries. Here are a few stories that inspired me. May be they will inspire you to lend to them as well.