Entrepreneurs help others
Entrepreneurs help others
Entrepreneurship is not only about individual success, but also about helping others who are less fortunate. Entrepreneurs love to help and the more successful you are, the more you want to help others. Helping others also make us feel better.
There are several organisations in the social entrepreneurship field. On this blog, we will be discussing Kiva.org. If you have not heard of Kiva, it is not a surprise. This is a not for profit organisation based in San Francisco, California. There is so much to write about them , but I hope you will find the time to investigate their activities. Kiva was founded in 2005, in that time they have lent over $1.5 billion to nearly 4million people in 77 countries. That is one heck of an amount to change the lives of some many people.
Who provide the money that Kiva lends out? Apparently, nearly 2 million generous people across the world have been kind enough to join this great community. More than 80% of these borrowers are women, but what is more impressive, but not surprising is that the repayment rate is more than 96%, probably one of the highest return rates I have ever come across.
This is a great opportunity to help other entrepreneurs by lending money that will impact lives. In many cases, the amounts are very small, but these little contributions make a difference to these entrepreneurs and their communities.
You can see this as a way of helping other entrepreneurs who are probably not as lucky as we are. In terms of business, I don’t believe in providing aids. It is better for entrepreneurs not only to be able to take risks, but their businesses must be profitable enough for them to stand on their own. You can genuinely help people in need, the amounts are as little as $25. Every penny goes to the borrowers and if you want, you can make a donation towards the work of the organisation.
I initially joined Kiva many years ago through HP. At that time, HP advanced the money for us to lend to these wonderful entrepreneurs. I started to lend my own money after that. I have re lent my initial capital many times over.
Each business it presented to you with the requested loan amount, the reason for the loan, the country of resident of the borrower and some pictures.
The minimum you can lend is $25 per borrower. The kiva way balances needs with responsible lending.
Please check them out on https://www.kiva.org/about
Good entrepreneurs in developing countries need capital to help invest in their businesses. They mostly don’t want charity because they know how hard you work for your money. Banks require collateral which most of these small businesses do not have.
I hope you can be of help to many of these great entrepreneurs soon or at least read about their stories. They may inspire you as well. You will be surprised how so little can go a long way.
As entrepreneurs, we can shine light on the lives of others, make a different and feel good all at the same time.
You may be interested in https://www.enterprisedoctors.com/successful-entrepreneurship/