Thursday, July 4, 2013

Little is not little, enough is not enough.

I have decided to loan 25$ each month from my salary to the people in need of credit. This will be done through KIVA. KIVA is a platform of lending that has a 99.03% repayment rate for 340,986,325 transactions in ended loans. This loan repayment rate is much higher than any bank. I will decide later with repayments that how much part of my money will be further used either as loan or development aid. This is my Profile at KIVA so that one can always check the authenticity of the claim.

A story of how a small loan from you can change the life of a family

How Kiva Works (

1- Make a loan : You make a loan on KIVA. All KIVA loans are made possible by our Field Partners, who vet, administer, and disburse each loan.

2- Get updates : Throughout the life of the loan, you will see progress updates from Kiva through your email, and if you come back to the site.

3- Get paid back : As the borrower repays the loan, the money becomes available in your account. This is called your Kiva Credit.

4- Repeat : You can now use it to fund another loan, donate it to Kiva, or withdraw it to spend on something else.

Why did I choose KIVA?

Development aid has been flowing for decades, but the results have been absolute dismal. Instead, recipients have merely become dependent. There is a long chain of "middlemen" i.e. the consultants and the companies involved in this "trade" between donor and beneficiaries. Hence, I find microfinance as a better instrument to alleviate poor than a poorly designed development aid. People should decide how to help those in need. It needs a very big database of demand and supply of credit with the purpose of loan clearly mentioned. KIVA is doing just that thing. Hence, we will far less likely to complain that their money is being wasted or misused if we chose where it went.

I believe that our society cannot sustain , unless we contribute back in someway or the other. I strongly feel if even one person does his bit towards social good, there will be positive change. I am not giving anyone lot of theories, clever strategies or concepts. I am asking for direct cash transfers to the needy as a loan. In helping others - Little is not little, enough is not enough.

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