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Posts Tagged ‘Micro-loans’

How Kiva works

Since we launched our Friendly Planet Kiva lending team one week ago, we’ve seen a flurry of acvitity on the page, and thousands of dollars worth of micro-loans pouring in from across the country. As of right now, we’ve had over 100 friends of Friendly Planet join and donate at least $25, bringing our grand total of money lent to $5,000! And for that, we are so thankful!

As I’ve said before, we are fortunate to live in places where having the means to travel makes it possible for us to freely explore the world and enjoy its wonders. At Friendly Planet Travel, we try to make sure that our travelers not only see the beautiful scenery, architectural achievements, important relics, and monuments of different countries, but they also have the chance to meet the people and experience their culture. Only then can travelers truly understand that people are people, no matter where they are or what they do. If everyone realized this, we’d have world peace.

Friendly Planet is very actively involved in finding ways to give back to the people and places we visit. We raise funds for new wells to provide clean drinking water to rural communities in Cambodia. We support grassroots efforts to get homeless kids off the streets and into educational and vocational programs in Vietnam. For us, Kiva is one more way of trying to give people the opportunities they need to succeed, and make our world a truly friendly planet.

Today, I wanted to take a step back, and give a little tutorial on how Kiva works, and why this is such an important opportunity that we have the power to give to someone in need.


Lenders browse profiles of entrepreneurs in need from different countries throughout the world, and choose someone to lend to. When they lend, using PayPal or credit card, Kiva collects the funds and then passes them along to one of their microfinance partners worldwide.

Kiva’s micro-finance partners distribute the loan funds to the selected entrepreneur. Often, partners also provide training and other assistance to maximize the entrepreneur’s chances of success.

Over time, the entrepreneurs repay their loans. Repayment and other updates are posted on Kiva and e-mailed to lenders who wish to receive them.

When lenders get their money back, they can re-lend to someone else in need, donate their funds to Kiva (to cover operational expenses), or withdraw their funds.



Fight world poverty with Friendly Planet Travel and Kiva

As travelers, we encounter wonderful sights and sounds, culture, beauty, history, and fascinating people. We also discover other things that are less wonderful, like how difficult it is to make a living and support a family in many countries. Too many hard-working people simply don’t have the resources or opportunities to prosper.

But there is something that we can do to change that—not by charity, but by lending. Just as businesses here in the U.S. usually need financing to get off the ground, entrepreneurs in developing countries often need loans to build successful businesses. Sometimes, a “micro-loan” of as little as $25 can help a seamstress in Uganda or a mechanic in Guatemala purchase the equipment or goods they need to expand their business and make it profitable and self-sustaining.

Kiva is the world’s first person-to-person micro-lending Web site, empowering individuals to lend directly to unique entrepreneurs around the globe. The people you see on Kiva’s site are real individuals in need of funding. You pick who you want to loan to and how much, and Kiva sends you updates as the loan is repaid. More than 98% of the loans are repaid, and when you get your loan money back, you can re-lend to someone else in need.

Zach Grossman from our reservations department has created our own Friendly Planet Travel Kiva micro-lending team. We’re asking all of our friends and travelers to join us in giving back to those amazing destinations we visit by joining us in lending through the Kiva program. You’ll be helping real people make great strides towards economic independence and improve life for themselves, their families, and their communities.

Late last week, we sent out all of our Kiva lending information in a newsletter to our members, and were met with resounding success. We offered to add $25 to the accounts of the first 40 members to join the Friendly Planet Kiva lending team, and lend $25 or more of their own. And in only a few days, more than 90 people have already joined and donated to their group or individual entrepreneur of choice, boosting our team’s total loans by $1,000. As I’m writing this post, all of the loans contributed to the Friendly Planet Travel Kiva total $3,325, and you can watch the numbers increase on our lending page.

But don’t let it stop there! Get involved and enjoy the tremendous satisfaction of being a part of a wide network of like-minded travelers who are working together to make this a truly friendly planet! And, of course, thank you for all you do.

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