For those not in the know, Kiva is a Micro Loans Programme. It specialises in loans to small family-owned or community businesses mainly in the developing world, but also in the USA and some of Eastern Europe.
Ecomonkey started lending on Kiva a couple of years ago as Ecomonkey. We always lent out $25 amounts to reduce the risk of losing the principal, as you don’t get any interest back on your (for we are helping build up human capital too!) and there is also some risk associated with exchange rate fluctuations (wow!). We started this from our own pockets at first, just a few hundred dollars, and then proceeded to use the unclaimed commissions received from participating retailers on the Ecomonkey shopping programme. Continue reading →