Showing posts with label Kiva. Show all posts
Showing posts with label Kiva. Show all posts

Thursday, April 30, 2009

Small Things (a poem)

Small Things

Swine flu is in the air.
CNN promises not to fear-monger as the word “pandemic”
flashes across the screen.
I think of the Mexican peso first, then of the Mexican people dying.
It occurs to me my priorities are screwed up.

But then I realize that’s the point--the constant scramble
to survive
to make money
to take care of your family,
It re-arranges everyone’s priorities,
forces people to think ahead, not backwards,
and it seems to work, until it doesn’t.

President Obama’s on the screen now,
talking about that flu again.
I think of the Mexican people first this time.
I think about the American schools shutting down,
and American kids happy to stay home.
I think of how a small thing can multiply into a big thing
and make its way up here without warning.

And then I realize a good thing can also multiply
And come here,
Something we’d never thought about before
until it came here
and changed our lives.

Small things, like six-year old Pierre Omidyar,
arriving in America from France,
his parents from Iran,
Not knowing their little boy would create eBay.

Small things, like Paul and Clara Jobs
adopting a little half-Syrian boy
born in Milwaukee
and bringing him to Mountain View, California,
where he would grow up and give us Apple Computers.

Smaller things, too, like 27 dollars loaned by a man in Bangladesh
who spoke at Stanford in 2003
and caught the ears of Matt and Jessica Flannery,
who then founded Kiva.org.
Soon came millions of dollars to help the poor.

Small things become big when they cross borders
undeterred by risk, failure, or fear.
They come, these small things,
flu particles, yes, but also the seeds of a bright future,
Burrowing their way forward.

(2009)

Wednesday, January 21, 2009

Microfinance: Oikocredit et al

If you have at least $1,000 to invest and a desire to make a difference, where should you invest? If dislike stocks, you might be interested in Oikocredit:

http://www2.oikocredit.org/sa/us/doc.phtml?p=Investing1

http://www2.oikocredit.org/sa/us/doc.phtml?p=investing-in-oiko-usa

From what I gather, it's like Kiva, except micro-finance investors receive 2% interest on their loans (instead of Kiva's 0% rate). I am not an Oikocredit investor, so I don't have any personal experience with the organization. I find Oikocredit's website hard to navigate and their procedures convoluted. In addition, they appear to favor donations/investments from organizations (like churches) rather than individuals.

Do your own due diligence. I am not endorsing Oikocredit. However, if you do invest in Oikocredit or are already an investor, please post a comment and let us know your opinion. It would be nice if Kiva had some competition to keep them on their toes.

Update on March 28, 2009: this eBay-affiliated site looks very promising:

https://www.microplace.com/

Update: found another site worth checking out:

http://lendforpeace.org

The information on this site is provided for discussion purposes only and does not constitute investing recommendations. Under no circumstances does this information represent a recommendation to buy or sell securities or make any kind of an investment. You are responsible for your own due diligence.

Tuesday, November 25, 2008

Kiva Stats

More good news from Kiva, a pioneer in micro-finance--their interest rates are substantially lower than the local competition:

Average Interest Rate Borrower Pays To Kiva Field Partner 22.91% (as of November 23, 2008)

Average Local Money Lender Interest Rate 85.22% (as of November 23, 2008)


Kiva's existence means that the poor can borrow money and create small businesses without being subject to usury. Even so, I don't like how high the interest rate is--23% still seems high to me, especially because the money given by Kiva lenders is given as an interest-free loan without expectation of re-payment. I'd like to see more transparency in terms of the overhead. I wouldn't be surprised to see nonprofits, especially international ones, without adequate bookkeeping. If some corruption comes to light, it would be devastating to the microfinance world, because it would scare away potential and existing lenders.