Kiva lets you lend to a specific entrepreneur in the developing world and empowering them to lift themselves out of poverty. This means, you can sponsor a small business by giving loan for 6-12 months period.
The scheme is straightforward in four steps:
- Lenders pick a business and make a loan using their credit card.
- Kiva transfers this funds to local partners. Partner disburses loans to each business.
- Over time, partner collects repayments and provides business updates at Kiva.org
- and finally funds are returned to lender which can be withdrawn or re-loan.
So you can start lending by as little as $25 through credit card and can help a person of developing nation to grow their business.