Kiva - loans that change lives

As I was browsing RIM (Research In Motion) website I came across an interview from the President of Kiva - Premal Shah. Premal basically got into how his blackberry lets him keep up with Kiva’s growing needs. Kiva seemed to be a great concept. Simple idea behind kiva is that its connecting borrowers from developing countries with lenders in developed countries (its a huge blanket statement, but its connecting anyone who needs money, with anyone who got money).

I haven’t had the chance to read in depth about it, however from what I have read it seems like the “right” thing to do. For my finance buddies, who are thinking about “Default” risk - well, yes there is since most borrowers are in 3rd world countries who trying to develop a new idea for their business, or trying to supplies etc. However, you can lend as low as $25 - I am sure we can afford that much risk.

 The website is designed for a good cause. Although the business model is designed around repayment of your loan, but I would think about it in more with my “donation/helping hat”.

Check it out at www.kiva.org