Back in January I helped make a loan to Nosirova Uguljon so that she could buy a greater range of goods for her childrens’ clothing business. Nosirova’s business is in Kanibadam, Tajikistan. (Tajikistan is the poorest of the former Soviet republics.) Her daughter helps with the business:
Entrepreneurs like Nosirova are the key to building the economy in poverty stricken areas like Tajikistan. Plus, her daughter represents a better future for their family and community. Although the total loan amount was $1,200, it only took $25 of my money to help support this business. I was able to join with 37 other lenders to support Nosirova’s business through the microfinance site, Kiva.
She’s already paid back her loan and I’ve turned around the $25 and loaned it to Alice Indangasi Shabola for her clothing business in Kenya. That $25 now represents $50 of economic impact to businesses in developing countries. When Alice pays back her loan, I’ll loan that money out again to yet another business. You can see what kind of long-term effect just $25 can have on Kiva.
Of course, once you’ve made one loan, you want to make more. :) Here’s my lending page on Kiva showing all the loans I’ve made.
I hope you’ll find $25 to loan through Kiva and have a real impact decreasing poverty around the world.