Kiva: Invest Your Money and Help Some People too…
Earlier today (ok actually about 5 minutes ago and I’m currently in class) I gave a presentation on Kiva, a nonprofit “.org startup” (as I explained it in my presentation) that helps provide loans for entrepreneurs who are in need.
Sure, as a rookie investor, I wondered what the risks are (am I going to get my money back? Is this money really going to the people who need it?) My answer is Yes. Kiva recommends that you diversify your investments in multiple entrepreneurs (plus it’s more fun that way). Also, there is a ranking system in place for the microfinance institutions who act as the intermediaries between the entrepreneurs and Kiva- these MFIs make sure that your money gets where it needs to go. It’s all pretty cool.
In class, my group and I chose two entrepreneurs (both 22 years old) and gave the class a choice to pick which group we should “invest” in. This guy won.
When I was standing in front of the class, I was really excited about this organization, especially how techy they are. I opened the presentation with the fact that a “web startup” is not limited to the “dot coms” of the world. Kiva is able to undercut so many costs by going digital with their cause, and partnering with Microsoft, Facebook, and PayPal is not a bad choice either.
Kiva’s really pursuing techyness with their cause. Their partnership with Microsoft (the “digital inclusion initiative“) allows Kiva Fellows, the traveling volunteers of the org, to remotely upload and communicate with the cause.