Congrats everyone — Team FSM has reached $4 Million in loans on the micro-lending site Kiva. We’re now the top-lending religious congregation on Kiva, above the Buddhists, Catholics, and Muslims.
What is Kiva? Kiva is a organization that lets us give small loans to people in the third world that need help starting small business. We make small, interest-free loans towards the projects we support, and Kiva combines them to fund the loan to the person who wants to build a small workshop, farm, restaurant, fruit stand, etc. These are interest-fee loans in places like Cambodia, Peru, Uganda — places where traditional bank lending to the poor is unavailable (or predatory). Kiva ensures that the loans are paid out and that the money is paid back. A lot of us feel this is the best way of bringing economic growth to the poorest areas.
Nice work everyone! If you haven’t already, please join our team here.