SixLinks: Support a micro-loan

Guide: Support a micro-loan

Contribute to microfinance by lending some amount of money to an entrepreneur in a developing country. While this only addresses one of the many needs in microfinance, these small loans can help get small businesses going in places that need them.

Steps:

1 Check out a couple of microloan websites

Kiva.org is a popular one, but there are more out there. You can check out Microplace.com as well.

2 Select a project to support

Look around the websites and find a project that you want to support. There are a wide variety of people trying to do all different things. Often people are starting or expanding businesses that provide all sorts of basics to those in their communities. Spend some time finding a project that appeals to you.

3 Loan the project some money

You'll receive your money back over time as the borrower pays back the loan. You can either take this money back out or put it back into another loan. If you put it back into a new project, you will be able to help out many people or groups with the same initial money.

Reviews:

Comments

No comments yet.