I am fairly sure I have mentioned Kiva before – the not for profit organization that hooks up people in developing countries with people that are willing to lend them small amounts of money to start or expand their businesses.
Today, Kiva sent me a note about a promotion they are running:
They are offering a free $25 loan to new members. Here is how it works:
“These free trials will be financed by Kiva, allowing the new lender to make one $25 loan free of charge. These free trial loans are dispersed to borrowers in the same way other loans are dispersed on Kiva. However, since Kiva is funding the free trial loan, any repayment funds from the free trial loan will go back to Kiva, not to the free trial lender. New lenders invited during the promotion dates may choose to use their own funds to make a loan, in which case repayments will go back to the lender.”
They must be thinking that once you have gone through the process of reading the profiles, selecting a person to help finance, and watching their progress, you will be hooked and want to join up yourself after the “free” loan is repaid. I think this is an awesome bet.
If you are interested in giving it a try – and you’d better hurry because it is only open to the first 4,000 takers – this is the link they sent me with more details.