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This just struck me as really, really cool:
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Kiva.org is the world’s first peer-to-peer, distributed microloan website. A great idea where PayPal meets Gates Foundation. The site allows you to lend a small amount of money, say $25, to needy microenterprises in developing countries. You receive repayment at the end of the loan period (normally 6-12 months) without interest. If they default on the loan, your loan becomes a donation – though none of the businesses have defaulted yet. A great low-risk, high-reward idea.
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Linky
As someone whose been involved in a couple start-ups, I know how difficult obtaining finanacing can be even in North America, I can't imagine in the third world!
A quick Google search looks like it's legit, even if a lot of the site does read like those Nigerian emails...
A similar organisation is the
Grameen Foundation though you don't get the same level of feedback.
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So there's no interest and no penalty for defaulting? Just call it a donation to begin with