For a while now – I have a small amount of money set aside for micro-loans. I use Kiva.org which may or may not be the best option. I can only hope that they actually do what they seem to do and are not spending all the money on “conferences” at the Singapore Sands Hotel. (Not being totally altruistic – a visit to that hedonistic pleasure palace 85 miles from the equator is on the Bucket List.)
One of my loans was just paid-in-full by Rose, 56 years old in Kenya. They sent this note:
Thank you for your loan. Rose used all the money she received to buy 2 sacks of sugar, 5 bundles of flour and 3 boxes of soap. Her income before the loan was Kshs 3,500 and it has risen to Kshs 5,200 after the loan period. Rose did not face any challenges during her loan term. She is happy that she was able to pay school fees for her children without much struggle.
I guess this is supposed to make me feel good. But, it actually makes me sad that so little from me (100% of which I got back) could make a difference.
Thru my foundation – I guarantee larger micro-loans. But, I have never had to pay up.