Micro-financing, the snowball effect

african hands

Our blog’s social project, allocating micro-finance loans through Kiva, contributed to a success story it seems:

Up to date, Kiva allocated loans worth a total of $56,393,860 to entrepreneurs around the world.
Only this week, 3,299 businesses were funded. 14,000 lenders gave over $1,000,000 of loans. Again: in ONE week.

To date, we fundraised $3,725 on our blog and the Road’s team members contributed another $585 directly.
The people we gave loans to already paid back $482, a sum I’m allocating to new micro-entrepreneurs in the developing world.

The Road’s lenders team now has 11 members (Alexander in Canada was the latest to join in. – Welcome Alexander!)

The Kiva project is that big a hit that today they ran out of projects to be funded: “Currently, we are experiencing a traffic spike and all previously fundraising loans have been fully funded.”

The snowball effect of doing good…

Follow the progress of The Road’s Kiva project and join the project’s discussion thread on our discussion forum.

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