Your kids are some of the most progressive in their school. They’ve been everywhere, and seen places that most adults only dream of. But it’s also important to give your kids an opportunity to give back to their communities, and learn about the responsibility of money. Enter Kiva.
What it is:
Kiva is a non-profit organization, that makes loans to small business in developing countries around the world. Through the work of Kiva, students are able to pay for tuition, women are able to start businesses, farmers are able to invest in equipment, and families can afford to seek the emergency care they may require.
How it works:
Members can lend as little as $25 on Kiva to become a part of the equation. 100% of every dollar that you lend on Kiva goes into funding loans. As parents, you are able to create an account with Kiva for your children, and make small investments to causes of your children’s choosing. On the website, borrowers apply for loans, and once the loan is approved by the organization, the loan in posted on Kiva for loaners to support. Your child can then select a cause of their choosing, and start making a difference.
Results:
With 3.4 billion borrowers in 77 countries, Kiva operates with a proud 96.7% repayment rate. Once the borrower repays the loan, you can then use the repayment to fund new loans, donate, or withdraw the money.
