Giving and receiving
Recently HRDQ gave each employee some money to loan on Kiva.org. Kiva is a non-profit organization with a mission to connect people through lending to alleviate poverty. Kiva lets individuals lend as little as $25 to help create opportunity around the world. They partner with existing microfinance institutions, and these organizations, known to Kiva as Field Partners, have expertise in microfinance and help facilitate Kiva loans on the ground. Field Partners know their local area and clients and do all the leg work required to get Kiva loans to the entrepreneurs posted on Kiva.org.
Throughout the life of the loan, Kiva sends progress updates by email, and this week employees have been getting some of those updates. Some have already seen half their loans paid back. As the borrower repays the loan, the money becomes available again, and it can be used to fund another loan, donate directly to Kiva, or withdraw it to spend on something else.
It’s been an exciting process, from sorting through the bios to be able to choose who gets the initial loan, to getting updates on the progress of the payback. With every update, employees are cheering on the entrepreneurs and sifting through more bios to see who they might be able to help next. You can see how all of the HRDQ loans are doing: http://www.kiva.org/team/hrdq/loans
Does your company participate in something like Kiva? Tell us about it.