Sunday, November 22, 2009

Microlending Really Helps People Climb Up Out of Poverty

Microlending means providing hard working people in developing countries and the USA a few hundred dollars to help them start or improve a tiny business. Their own hard work can bring them and their whole community up and out of poverty, with dignity and self esteem.

All microloans are administered on the ground by charities who also provide money management training, literacy classes, and so on. Your microloan is not a "hand out"; you go into business with the person.

Yes, the economy is bad, but you can start with just $25. And you get it back (that's why it's called micro-LENDING).

An excellent agency is Kiva:

You can check out my investments at the links below. At the webpage, click on "loans" to see the loans made to groups around the globe.

"Debbie's Family" are my loans in lieu of Christmas presents -- my family wanted to get away from the materialism of Christmas shopping last year.

JustFaith2 are the investments of my JustFaith group; in the JustFaith program, I first learned how very effective microlending can be. Catholic Relief Services highly recommends it.

About the photo: Kahooza John Bosco is the leader of his lending group in Ibanda. He is a very hardworking and friendly man. He is 38 years old and married with 2 children, both of whom are in primary school; he also takes care of 2 dependants. He has had a retail shop in the Nyarukika trading centre for 15 years, where he is able to make 120,000 as profits a week. This is mostly attributed to the use of the loans that enabled him to have a variety of items in the shop. In the future, John Bosco would want to sell wholesale so that he could sell more and consequently have a happy and united family. He is seeking for a loan to be able buy more products for his shop so as to avoid shortages.

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