Ten years ago PADT, deposited $1,000 into an online service called Kiva. Kiva makes small loans to people all around the world. We just made our 100’th investment, bringing us to $7,900 lent to different businesses in 40 different countries around the world. Take a look at “Using small amounts of capital to make a big difference with microloans” to learn more about how you or your company can make a real difference in people’s lives.
Today PADT hit a bit of a milestone, we gave out our 100th microloan over the past 10 years, to a guy named Roger Yester who makes adobe bricks in Peru. Microloans are small loans, created by pooling bite-sized amounts of money from many people, given to individuals or small groups to help them with their business. It may be to buy raw materials to fulfil an order, as is the case with our 100th loan, or to buy inventory for a small store they operate out of stall in the local village. The movement started as an alternative to high interest rate loans from predatory lenders and has grown as a way to fund people all over the world from every economic level.
We put $1000 into Kiva back in June of 2007, ten years ago. (I like round numbers). We added another $500 a few years later and have been reinvesting that same capital over and over again since. This re-use of funds has lead to $7,900 lent across 100 loans. We have only had two defaults and have donated $935 to Kiva to cover overhead during that time.
The loans have gone to 50 different types of enterprises, mostly agricultural. We have helped buy breeding pigs and chickens in several countries, funded a new motorcycle for a taxi service in Cambodia, and backed a furniture maker in Mongolia. Over the years PADT’s investments have supported 5 different beauty salons in Vietnam, Tanzania, Nigeria, Peru, and Jordan. Our most common investment is in clothing sales with 8 different entrepreneurs backed for that industry.
We have even given loans to help families send their daughters to secondary school.
You can see some of our key loans and more statistics at:www.kiva.org/lender/padtinc.
If you think this sounds like something you, your family, or your company might like to do, sign up through this link and they add $25 to our loan pool when you make your first loan: www.kiva.org/lender/padtinc.
We just updated our loans on www.KIVA.com, a microloan website that PADT has been a member of since 2007.
Kiva takes very small loans from people, pools them together, and makes small loans to entrepreneurs around the world. It is a great way to make a big difference in someones life with a small donation.
You know how much we love numbers here at PADT, so here are some about our Kiva loan activity:
It is interesting to read the little loan pages and understand a bit about what the applicants are trying to do and where they are coming from. You can see our loans on our lending page:
At first $1,500 seemed like a lot of money, but over the years it has gone a long way. Who would have thought we would be involved in pig farming in the Philippines, a Peruvian Beauty Parlor, or a Cafe in Albania?
If you want to try it, make a loan through this invitation link. When you make a loan, $25 gets added to PADT’s loan pool.