Microfinance group serves as inspiration

I recently heard about a 4-year-old organization that has inspired me. Kiva is the first person-to-person microfinance Web site and as stated on www.kiva.org their mission is “to connect people through lending for the sake of alleviating poverty.”

I heard about Kiva through an interview with its co-founder, Jessica Jackley. Her words encouraged me not only to take part in social change but specifically to spread the word about Kiva and the stories of hopeful entrepreneurs around the world.

The idea of fighting a war on poverty seems too big a task for any generation, but Kiva takes this issue and looks at the stories and connections. These relationships are between lenders and entrepreneurs living in poverty. Anyone can be a lender as long as they have Internet access and a credit card. Lenders can browse through Kiva's site and read individual stories of entrepreneurs set up by local microfinance institutions. Lenders can then lend $25 or more to their chosen entrepreneur(s). The receivers of these loans could not receive loans from normal banks since they do not have collateral. Instead they turn to microfinance institutions who know the environment and what it takes for individuals to succeed.

Today over $5 million in loans is given a month. In addition, overall there is a 98.4 percent rate for entrepreneurs' repayments.

Visit the site and tell someone. Get involved in a way to alleviate poverty.

Danielle Silva

Iowa City