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Sunday, December 16, 2012

We help a young man in Armenia buy livestock

It's that time of the month again - my monthly KIVA plug. The repayments from money we've loaned to people in some of the poorest countries in the world is starting to filter back to us, meaning we can lend it out again and help someone else :)

This month, for our 65th KIVA loan, our family has decided to help Smbat in Armenia (the 56th country we've loaned money in!). He's the sole breadwinner for his family, despite being on 20 years old. He wants to buy some livestock to improve their situation and we've decided to help him. He'll be paying his loan back over two years beginning in February next year, which will hopefully give him ample time to fatten up his improved herd and sell them off for a profit.

Here's what Smbat's application had to say about him:

"Smbat is 20-year-old proactive young man. He lives with his parents in Goris, Armenia. Smbat is engaged in agriculture and is the only breadwinner in the family. He keeps 8 cows, a calf, and 40 sheep. Despite his young age, Smbat has big plans for the future and is working hard to achieve his goals and ensure a better life for his parents. Smbat has applied for this loan to purchase 2 cows and 10 sheep. The loan is very important for him because an increase of his livestock will give him an opportunity to earn more income and implement his future plans."

What I love about KIVA is we don't have to contribute huge amounts of money to help someone. US$25 is all it takes to get involved in meeting someone's loan request - and you get to chose who you help. Plus, as the money rolls back into your KIVA account, you can opt out of any future loans and take your money back if you find it's not for you.

If you're interested in looking into the KIVA world of microfinance, here's a LINK to the website. And if you join and are looking for a Team to join we're part of Paying It Forward - love to see you there.

If you're one of the 127 people who have already joined KIVA through Big Family, little income and begun stretching a helping hand across the oceans, your repayments will likewise be coming into your account over the next day or two, if not already, so check out your account and relend the money! There's still a lot of people in need of a hand to get their little street stalls or farms up and running.

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Anonymous said...

Hi, do you get to find out how the person you loaned money to is going and if he finance worked? Or is it just an assumption from getting the money repaid? I keep trying to comment but my iPad isn't being helpful. It's commenting as anonymous but I'm from
Susanna :)

Unknown said...

Hi Susanna - occasionally you'll find an update on a loan, but you're quite right, the assumption is if they're repaying the money they're doing well. Or if they're making a further loan down the track to kick things along again. Sometimes there will be videos released where a lender, like yourself, goes into a country to meet these people and see how microfinance has turned their life around. Those pieces are fascinating.

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