Ca$hflow is Remezcla’s weekly dive into the world of internet crowdfunding.
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Kiva’s not exactly brand new, but it’s new to us, and so we thought while we were learning, we’d pass it on.
The organization, named after the Pueblo Indians’ prayer spaces, creates loans to alleviate poverty through an international network. You donate $25…when 100 other people do the same, Kiva works with its network of financial institutions to create a loan for a project, business, or even an individual and his or her family. When the loan is paid off, you get your $25 back, which you can reinvest in another loan, or cash out. Check out the human face of past and current Kiva loans – it’s like KickStarter or IndieGoGo for third world financial inequality.
Sound too good to be true? It’s not perfect, but it’s a step in the right direction for this sort of internet company. Check out the video below that explains how it works with the help of Pedro the Bolivian Coffee Farmer, and consider making your own $25 donation today.