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Transcript for FOX 8 News - KIVA: Microloans to Entrepreneurs in Developing Countries (27 Nov 2007)

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Time Content
00:03 → 00:08

Female entrepreneur from developing country seeks life changing loan.

00:08 → 00:12

This lady in Samoa who makes banana chips. She is married, she has 4 children...

00:13 → 00:20

The Demadia family of Greensborough answered the call loaning to 19 businesses in need through KIVA.org.

00:21 → 00:26

They've invested about 1500 dollars but Cindy Demadia says it's been worth much more.

00:27 → 00:31

And there's a connection there in that you're giving to them and then you're able to follow their progress.

00:31 → 00:39

KIVA.org allows you to connect with and help people in foreign countries who are working to change their own lives.

00:39 → 00:43

They don't have the institutional assistance that we often take for granted.

00:44 → 00:51

They don't have the resources that we have here. There's no Small Business Administration in Azerbaijan or Bolivia.

00:51 → 00:56

Here's how KIVA.org works. Read through the profiles and select a business in need.

00:57 → 01:02

Make a loan using your credit card through PayPal for as little as 25 dollars.

01:02 → 01:09

The loan usually lasts 6 to 12 months. During that time you receive progress reports from the business owner.

01:09 → 01:15

When they repay the loan you withdraw the money or choose to re-lend to another business.

01:15 → 01:20

The Demadias know it's a safe place to save their money. "She's already paid us back!"

01:20 → 01:26

And even more important to them KIVA.org provides a way to invest in themselves.

01:26 → 01:29

To look for opportunities to make the world a better place.

01:30 → 01:32

Melissa Painter, Fox 8 News