How Kiva.org is Improving The World By Using Social Media

I am a big fan of the Stuff You Should Know podcast from HowStuffWorks.com and first came to hear of Kiva.org through their episode on micro-lending. For those unfamiliar, micro-lending is the loaning of very small amounts of money at low interest, especially to start-up companies or self-employed people. During the episode, the topic of Kiva came up. I was extremely intrigued by the idea and signed up. In the time it has existed Kiva has had such an effect on the world not only in what they accomplish, but how they accomplish it that I wanted to share.

Kiva.org is a non-profit organization that supplies micro-loans to entrepreneurs around the world (mostly under-developed countries in South America, Asia and Africa) to help them get a leg up and find success. Kiva achieves this by finding people like you and me to fund these loans.

Once you become a Kiva member you look through lists of entrepreneurs that are in need of a loan and find a person you want to help support. You can then provide as little as $25 to the person or people running the business. Together with funds from other Kiva.org members a group micro-loan is created to send to the entrepreneurs. As the business you support grows and profits the loan is repaid. Now you have the choice of taking back the money you originally funded OR immediately reinvesting it in another business!

Ok now here is where the awesome social media side of Kiva comes in.

Kiva has what are called "Lending Teams". Whenever you loan money you can contribute it towards a total loan score for the Kiva Lending Team of your choice! This creates an air of friendly competition between lenders to fund more money than rival teams. This element makes loaning absolutely addictive.

Members can post messages to lending team message boards, talk with other members, get lending banners to put on other websites (like the one on the left of this page on my blog), create a customizable Lender Page and read updates from the field agencies that have direct contact with the entrepreneurs. There is definitely a sense of joy when you read how these loans have immensely helped these hard working individuals.

Head over to Kiva.org to sign up and start loaning! You will love it.

Note worthy links.
Kiva's Twitter page
The How Stuff Works Twitter page
The Stuff You Should Know Lending Team