I was just notified by Kiva that some money had been repaid on my outstanding loans. I now had enough credit to make two additional loans so I went to the Kiva Website.
There I found two loan applicants from Bolivia. Rosario has a kiosk in the Pedegral District of Bolivia where she sells “salchipapas” (sausages and fried potatoes). Her husband is a taxi driver and together they earn enough to make payments on their own house in the city. She is requesting a small loan to buy supplies and equipment for her business.
Luis Carlos Angulo Zurita is a 24 year old youth in the city of Cochabamba, Bolivia. He lives with his parents, attends University in the daytime and works in his families restaurant at night where he is training to be a chef. He is seeking a loan to replace the kitchen equipment in the restaurant because the existing equipment is very old. The restaurant is very popular and after he graduates he hopes to open branches of the family restaurant throughout Bolivia. here is Luis with his mother:
Any day I am able to help someone in a small way is a good day! I have now made thirty loans. Twenty three have been completely repaid and seven more are being paid off with regular payments. I have not had one default. My total investment in Kiva is less than $200 and I have helped thirty individuals and families break the cycle of poverty! I have spent almost that much on one night out. There is no comparison of the value received and I always have the option to take my money back or to reinvest it every time it is repaid.