Kiva.org

I am a big fan of Kiva.org. It is a website that applies the idea of "thinking out of the box" to the web 2.0 technology and craze.

Because of Kiva now I can join a group of people to lend money to entrepreneurs in developing countries. Lending through Kiva is fast, simple, trustworthy, and for a good cause.

So what exactly does Kiva do? Kiva works with organizations in developing countries to find a group of trustworty and responsible entrepreneurs that need money but are unable get a loan from the bank. In most cases such entrepreneurs are unable to get a loan because their loan amounts are small and their credit history is lacking or poor. The money they borrow would be used to buy inventory for their convenient store, open up a electronics repair shop, or start a small food store. After selecting these entrepreneurs, the organizations forward the candidates profile and information to Kiva. Kiva then posts the information on their website. Once posted, I can then view these candidates and choose one to lend to.

Most candidates request amounts from $100 to $2000. The added twist is that I can donate to the same candidate that my friend donated to as along as the candidate's requested loan amount is still unfulfilled. Once the entrepreneur repays the loan and I get my loan amount back, I can relend to someone else within the Kiva network.

Apparently Kiva has already processed more than $1 million dollars in loans.