4 ms·
I believe the grown money would (mostly) go to the partner lenders of the program, Kiva makes it sound perfectly lovely, but someone has to go out and interview
by diziet 16y ago
I believe the grown money would (mostly) go to the partner lenders of the program, Kiva makes it sound perfectly lovely, but someone has to go out and interview those people and file paperwork and take photos an collect the money, and of course make profit doing that.
- kn0thing 16y agoAye, most of the MFIs (microfinance institutes = banks to the poor, essentially) are for-profit. Some are non-profit, though, but they all charge interest rates for these loans - kiva lenders essentially are loaning them interest-free loans ($25 at a time) to encourage them to take more risks, that is, lend to poorer clients for lower interest rates.