Kiva – the perfect last-minute Holiday gift!

December 24, 2009 at 03:31 Leave a comment

Things have been crazy in the store for the past few weeks (which is a good thing!) so tonight we took an overdue “time out” to re-invest some Kiva funds. If you’re not familiar with Kiva, it’s a person-to-person micro-lending website, empowering individuals to lend to unique entrepreneurs around the globe.

We’ve been supporters of/investors in Kiva for a few years now (it fits closely with our mission for Global Fayre and our support for Fair Trade) and started the Global Fayre Kiva lending team a few months ago, though in truth we’ve not had time to develop it much, aside fomr using a couple of First Friday Art Walks to raise funds to invest.

So, the three loans we made today were:

Luis (Peru) who has a construction business (STILL NEEDS FUNDS). Here’s what Kiva syas about Luis:

Luis is 26 years old and lives in his own home with his common law wife and their two year old child. After finishing high school, he started working in order to meet the needs of his family. He started in the construction business and became very good in this type of work. He currently works as a contractor for clients who are in need of his services. Luis has developed a good reputation. Likewise, he and his wife work together in their partnership. Luis is grateful that he is always able to find work. For this reason, he hopes to have better tools so that he can provide better service. This is his first loan with MFP. Luis promises to be punctual with each of his payments. The money he requested will be used to purchase a few of the tools that he is lacking that will help him to develop in his work.

Five Virgins Group (Ghana) with a clothing sales business (FULLY FUNDED).

Toyin Okunlola (Nigeria) with a food business (STILL LOOKING FOR FUNDS). Kiva says:

Toyin sells frozen foods at retail prices to her customers. She has 2 deep freezers that she uses to store her frozen foods. This is the high season for sales and she hopes to make more profits during this season. She has been in this business for 6 years. The demand for her frozen foods is high. She hopes to own a poultry farm in the future.
Toyin is 44 years old and married with 2 children. She lives in Lagos state, Nigeria. She hopes for a loan of NGN 100,000 to purchase more frozen food to sell. She says thanks to all Kiva lenders.

If you haven’t made a Kiva loan before, PLEASE DO! Our tip would be to think about the region you want to invest in, scan several loans before making a decision, and always consider the field partner as well as the loan applicant to give yourself a sense of their ability to repay.

If you HAVE made a Kiva loan before, then please think about making another one.

BETTER STILL – you have the chance to make those last minute Holiday gifts with Kiva. Go to http://www.kiva.org and purchase gift certificates for your loved ones to make their own Kiva loans.

Happy Holidays!

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Making Progress Kiva Update

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