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Discussion Starter · #1 ·
So, I just joined this website, and although I can't contribute until I get my paycheck, I thought I would encourage others to join as well. So, it's this website, called Kiva, in which they somehow find these people, in third world countries, who are trying to start their own businesses. And so, through paypal, you lend them money, in increments of $25, and they pay you back over a period of months. If you look at the website, they'll explain it all, and it's very easy to figure out. And the great thing is, you don't actually lose any money. You get it all back eventually, and yet you're still helping people. And I figured that since Kindlers, well, bought a Kindle, which is rather expensive, and sort of pure toy, that most of the people who have one should be able to loan out 25 bucks. And I'm not trying to shove this on anyone, and I'm not going to bug anyone about it, but I just wanted to get the word out. So, if you do join, you can join a group, and I made one called "Kindlers Give Back!". So yes, if you want to, you should join. Thank you for your time.

www.Kiva.org
 

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RovingSoul said:
And the great thing is, you don't actually lose any money. You get it all back eventually, and yet you're still helping people.
Great idea Kat; I'm for anything that spreads capitalism and self-reliance. But please let me add a word of caution: Loaning money to entrepreneurs has a risk and you may not get all your money back eventually, as you stated. I didn't see that mentioned on the Kiva web site, but it's one of those basic truths in business, so I thought it was worth mentioning. If I'm wrong, please explain.
 

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Jeff said:
Great idea Kat; I'm for anything that spreads capitalism and self-reliance. But please let me add a word of caution: Loaning money to entrepreneurs has a risk and you may not get all your money back eventually, as you stated. I didn't see that mentioned on the Kiva web site, but it's one of those basic truths in business, so I thought it was worth mentioning. If I'm wrong, please explain.
By clicking through the program TOS, lenders are explicitly warned that it is not likely that any loaned amount will be repaid. Also, lenders are warned that the amount given is not tax-deductible as a charitable contribution, as it is still technically a loan.
 

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Discussion Starter · #5 ·
All of the people are, um, discovered (?) through specific organizations, I think they are credit unions and such. And on each profile, they list the risk of the specific person, as well as the organization that they are affiliated with. I think that after they default a certain percentage of the time, they are automatically kicked off the site. I was also thinking about it, and decided that it probably lowers the risk if you loan, say, $25 to eight different people, rather than $200 to one person.
 
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