12 February 2011
A group of us got together last month and discussed the benefits of microfinance. As Miranda puts it, microfinance can be "an effective way to spur development, empower people and give them the chance to pursue what they enjoy doing with a little loan. It helps build their community, helps build their own drive to succeed, helps individuals not rely on aid or wait and hope for debt relief ... helps helps helps".
Ty and Miranda did some research and decided to use kiva to get our money in action. The thing about microfinance, it's not a charitable donation, it's a loan. Your money comes back to you later and you can loan it to someone else (or not).
With our help and the help of twenty-eight other lenders, a female farmer named Yaneth in Ayacuch, Peru had her loan request fully funded.
You should check it out. Even just to read about it. Make up your own mind about microfinance.
Photo from Google Images.