Microfinancing in the South Pacific - you can help

I recently came across a neat organization, which provides a neat and easy way to help out small businesses in poverty regions in the South Pacific and across the world.

The website for this organization is http://www.kiva.org

What they do is coordinate the pooling of money via individual lenders (such as yourself), and present the total collected loan to individual business owners who are in need. These are not donations, as those who receive the loans do have to pay back the loan, with interest. These are business owners, on a very small scale, not people looking only for a free handout. The people who apply for these loans live in traditionally poor areas, that are not usually served by the mainstream banking industry.

The http://www.kiva.org website is very easy to use. I simply clicked on the 'loan' tab, selected the appropriate search criteria, and various profiles came up, for various people who wish to receive a loan. You will see their picture, a brief description of their business, and how they will use the loan. When you find someone you wish to assist, simply choose a dollar amount - as low as $25, and choose the 'Loan Now' button. The money will be taken out of your Paypal account - a very simple transaction. When kiva gathers the total loan amount, it will be presented to the loanee, and they will have approx 18 months to repay the loan. When they do so, you will be offered your money back. You can choose to either withdraw your money, or lend it to someone else.

You are, in a way, serving in the role of a banker, helping someone elsewhere in the world.

I chose the Asia region, and currently there are loan requests from the island of Samoa. I saw one profile that greatly interested me, for a woman who was weaving traditional floor mats used for weddings, funerals, and other special occasions. These mats can take as long as two months to weave, as they are very intricate and time-consuming. I wanted to donate to someone who was an artisan, and I should now receive some progress reports, on how the woman's business is doing. I haven't seen any Samoan carvers listed yet, but it wouldn't surprise me if one eventually shows up. I assume that with further successes, this program may expand to other islands in the South Pacific.

I have found that the small businesses listed have a fairly quick turnover. The loans are generally small, around $1000, so it may take less than a couple of hours for the total amount to be collected. So if you don't see a listing that interests you, try again the next day.

The website has lots of good information, that will answer many of the questions you might have.

There seem to be plenty of people on Tiki Central who are willing to spend money on tiki mugs, and I thought a few of us might be willing to help some others out, and this seemed to be a cool way to do it.

Vern

I saw a news feature about some artisans who were micro-financed in India. It's amazing how far a little bit of money will go in some places. A little boost up can make phenomenal improvement in their quality of life.