» eCraftWorld to provide funding for Kiva |
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May 06, 2007 - 7:43 PM - by Kersti
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eCraftWorld to provide funding for Kiva
What is Kiva???
Kiva lets you connect with and loan money to unique small businesses in the developing world. By choosing a business on Kiva.org, you can "sponsor a business" and help the world's working poor make great strides towards economic independence. Throughout the course of the loan (usually 6-12 months), you can receive email journal updates from the business you've sponsored. As loans are repaid, you get your loan money back.
The idea is known as Microfinance - the provision of very small loans to people who just need a bit of help in poor, developing areas. Payback rates are extremely high and it helps cut out the big banks.
For the months of May and June, the 66% of every sponsorship purchased will be used to make loans to Kiva. That's $10 of every yearly sponsorship. To get us started, I'm putting in the first $50.
The more of you who sponsor eCraftWorld, the more we can help those in need. And if you like, you can sponsor for more than one year and help even more!
I'll post any information about the loans and the state of those who benefit in the Sponsor Lounge area so you can see how much we're helping others.
For information about how to become a site sponsor follow this link
http://www.etatters.com/showthread.php?t=3249
Raised so far :: $90 
Read more about microfinance here
http://www.time.com/time/magazine/ar...607256,00.html
Visit Kiva at http://www.kiva.org
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