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Topic: Premal Shah

Become a banker to the poor

 

Kiva.org merges Philanthropy and Venture Capital with their world changing microlending web site.

Kiva, was the first non-profit organization that enabled individuals to make personal loans to microenterprises located in developing countries. They opened the Internet to people looking for a personal, high-engagement means of taking steps to eradicate poverty in developing countries by lending money directly to small businesses.

Lenders may loan money through kiva.org, which lists businesses in need of funding and provides background on the entrepreneur starting the enterprise. Individuals may makes loans in increments as small as $25, and can expect to receive repayment, without interest, at the end of the loan term, which typically runs between six and 12 months. Since Kiva’s source of capital is charitably-minded individuals, it is able to provide more flexible loan terms than traditional financial institutions.

The representative of this group is Ms. Adela Balderas Rosales. She is 40 years old and educated through the third year of secondary school. She has four children (three boys and one girl). Cesar is 19, Soledad is 14, Francisco is 12, and Alexis is 6 years old. Adela sells shirts and napkins. She is requesting this loan to buy shirts and napkins. She started this business six years ago out of economic necessity and in order to send her children to school.  . The business has helped to feed her family and to pay her children's school expenses.

The representative of this group is Ms. Adela Balderas Rosales. She is 40 years old and educated through the third year of secondary school. She has four children (three boys and one girl). Cesar is 19, Soledad is 14, Francisco is 12, and Alexis is 6 years old. Adela sells shirts and napkins. She is requesting this loan to buy shirts and napkins. She started this business six years ago out of economic necessity and in order to send her children to school. . The business has helped to feed her family and to pay her children's school expenses.

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