Introducing www.kiva.org

Hi All,

So this Christmas, my family was really struggling with what to buy for one another. Even more pronounced this year was our sense that, in reality, we really have everything that we truly need to life our lives in quite an adequate fashion.

Especially given that we are in the midst of an economic downturn, the true impact and severity of which remain largely unquantifield, it just didn't seem appropriate to hit up the local big box stores simply to put some parcels under the tree.

Enter www.kiva.org. I discoverd Kiva thanks to Bill Clinton's recently published book "giving", and am most happy that I did.

In a nutshell, the site matches third world entrepreneurs with lenders from all around the world through microfinancing. In principle, the concept is not appreciably different from traditional loaning processes. In this case, you can review a portfolio of entrepreneurs looking for funding and then choose which you would like to loan to. For as little as $25, you can help make a significant difference in the lives of someone trying to start and/or grow their business. Keep in mind that this is a loan, not a donation, thereby meaning that the recipients pay it back on a preset schedule, and when fully paid back the lender(s) can choose to reinvest or pull their monies out.

In our case opted to support the following entrepreneur:

Mrs. Alicia Tumapon is 59 years old and lives at Polo, Dapitan City. She has three married children. She has been faced with many challenges. Her husband, Francisco, passed away from diabetes. Mrs. Alicia is a business-minded person. She opened a sari-sari (variety) store in 2004 with PHP 3,000. The business runs smoothly and has become her primary source of income. She heard of Paglaum MPC and decided to join in 2005. She has taken several loans and has expanded her business successfully. Now she is borrowing PHP 14,500 to purchase cases of soft drinks and canned goods for her sari-sari store. In the future, Mrs. Alicia wants to operate a mini grocery store.

The fit was great for us as some of us have had the chance to visit the Phillipines and have been looking for a way to give back, even just a little, for some of the great hospitality we were shown while visiting.

So, if you have a little leftover money after the holidays, why not consider kiva? Also, when gift giving, you might consider giving a kiva gift certificate, thereby allowing the recipient choose who to contribute to.

That's about all for tonight ......