New Kiva Loan

I had $18 sitting in my Kiva account, so I threw in $7 to make a new loan. I have been considering this for about a week now, but until I looked today every single loan listed had been fully funded. I find this very exciting as it means the level of support for Kiva is tremendous. I hope they and their partners are able to continue to expand their operations to continue to meet the increased demand for donation options.

This loan is my sixth loan to Kiva and my first loan to a group of entrepreneurs. I used to be irrationally wary of loaning to the groups on Kiva, but after reading Muhammad Yunus’ Banker to the Poor I have been converted to the lending group idea. Every member of the group is accountable and responsible for not only their loan, but also every other member’s loan. They must support and encourage each other to ensure that their loans are paid back appropriately.

I decided to loan to this group of women in Pakistan. Pakistan is a region plagued by problems and I feel that improving local conditions and economies can only bring good to the country. If a family is able to provide for themselves legitimately, they will be less likely to turn to illegal means to do so.

There appears to be a swath of new loans available today on Kiva, so I encourage you to take a look and consider donating.