Probably the best idea ever

Microfinance projects have been getting a decent amount of press lately- since the Grameen Bank founder Muhammed Yunis won the Nobel Peace Prize in '06- but this project brings microlending into the average westerner's living room. Kiva has transformed microlending into a process where anyone can sign up to assist an aspiring business person in a developing nation to meet their financial needs in order to start their business and generate income for themselves.

This project is amazing for a few reasons:

1. Western donors love to know exactly to whom their funds go and this project gives plenty of detail on each entrepreneur in the developing world- how much money they need- what they plan to do with it- and photos.
2. It is easy. With an internet connection you can suddenly (from your office on K street) be helping a mother or group of women in Latin America, or Africa, or Asia achieve economic freedom and be given a chance to fulfill their dreams.
3. transparency/ accountability. The site clearly posts delinquency and default rates on each individual's page. Also Kiva takes no cut from the loan amount and instead asks for a small donation for their operating costs.
   
4. It is fun- With its social networking site set-up you instantly feel like you are helping achieve a goal- you can see other lenders who are on your project "team" if you will- and see how your small amount of money can add up with people from across the world to help change lives.
5. There are probably more things I haven't thought about that should go here-- but I'll let you comment and tell me what you think is cool about Kiva.
   

I just made my first loan of $25 to complete the funds needed for a women's group project in Senegal. I can't wait to see updates on how they do-- once the loan is repaid, I can then transfer the money over to another project. I can't say I've been this excited about a $25 purchase in a long time.