Philanthropy for the average person.
**Investing a small amount to a micro loan site helps people help themselves. **
Unlike a gift to the usual charities your loan is borrowed by people wanting to improve their lot and who have a plan to implement the project and pay the loan back. The agency does charge the borrower a small interest. That is what they use to keep the site running, to work with borrowers, pay back borrowers and to coordinate payments. 100% of what you loan is available to be borrowed. No, you don't get interest. BUT you do get to choose who you want to loan and you can withdraw your funds once the loan is repaid. Of course they hope you will let it ride so the funds can be used again.
One of the things I like most is that it also allows the average person to contribute in such a way that they can follow their money and see the good it is doing. Whats more it doesn't just address one problem once. The same money can be loaned and reloaded indefinitely. I have had a loan out to Milapp.org for over eight years . I add a bit now and then as my finances allow.
Why don't they just borrow from a bank? Millions of honest hard working people just don't have the resources that banks insist on before they will make loans. What's more, banks like to make big loans. These are small loans. 50$, 100$, maybe a 1000$ for a group project. The Micro Loan agency vets the borrowers based on their reputation and ability to pay it back. The difference is that Micro Loans are bad to the person not the portfolio.
You can pick what part of the world you want to focus on and whether you want to help businesses or personal loans. Your funds can be combined with other micro lenders to fiance a larger project. Alternately you can fund an entire project or even several. Flexibility is the watch word here.
What sorts of things get financed? A small computer or cell phone repair company. A few goats for milk or chickens for eggs and meat along a with a pen. An indoor Toilet. Solar powered lights for the home. Maybe start up cash for a clothing coop to expand. Add a room onto a house . Money to send a child to school. A well and pump for clean water for a village. The list goes on and on.
Donate vs Loan Most of these sites will accept donations for projects that are such that a pay back is not practical but would so so much good that the opportunity needs to be addressed. Don't be confused and assume a site only does donations.
One of my favorites is www.milapp.org. Here are a few others.
www.kiva.org
https://www.globalgiving.org/
http://www.opportunityfund.org/
I suggest a google search of Microloans to learn more and adding filters as needed.
Ciao Ya'll
