If you’re looking to do something worthwhile with your charitable donation and want to make sure that you’re helping people help themselves, then microfinance organizations are a great way to ensure that your donation can be used more than once, to help several different people.
Microfinance and What It Means for the Giver
Just like the name implies, microfinance is a very small loan that is made to an individual, or group, that is looking for finance to improve their business and their lives. Many of the businesses are run by women and are centered around crafts, sewing, food, farming and markets stalls. The burgeoning entrepreneurs looking for finance are unable to get help from traditional financial institutions, or are living in remote areas. While loans for entrepreneurs is not a new concept, the philanthropic nature of nonprofit microfinance loans to entrepreneurs in developing countries, means that people who have great business ideas are able to work towards a better future. They are able put those ideas into practice with your help!
Microfinance and microlending is a controlled giving environment. Your donation is paid back to you over time, and when it is, you are able to use the same sum to help another person. One donation is able to be used multiple times to help alleviate poverty and make real change in communities both locally and internationally. Using your donation to provide a microfinance loan provides a person with the ability to create opportunity for themselves and within their community.
Lend With Care – Making a Difference, Making your Donation Count
Lend With Care is an organization run by Care International UK. The organization works in 10 countries and people can make a donation starting from £15. An entrepreneur with an idea is able to approach a microfinance organization in the country, the details of the request are uploaded to Lend With Care, and then donors can choose which person or business that they would like to donate to. Lend With Care has a section for each loan request with the history of each person and what they intend to do with the loan.
Kiva – Helping Entrepreneurs Improve Their World
Kiva is a US-based nonprofit micro-finance lender founded in 2005 and based in San Francisco. For as little as $25, a Kiva microloan could help an individual with a great idea to provide for their families, create a future and to realize their dreams.
Both Kiva and Lend With Care offer the option to make a difference by becoming long-term supporters of the organization and to help expand the reach of the organizations into new territories and regions of the world.