Perfect Christmas Gift

This year, give someone the opportunity to truly change the life of a person living in poverty in the developing world. Kiva.org, the world's first microlending website, lets individuals purchase gift certificates for friends and family, allowing them to make a loan directly to a developing world entrepreneur.

"A Kiva.org gift certificate is much more than a gift -- it's the start of a very positive cycle of loaning to a deserving entrepreneur, getting paid back and loaning again," said Matt Flannery, CEO and Co-Founder of Kiva.org.

How it works

Kiva.org gift certificates are easily purchased in multiples of $25. Once received, the gift recipients go to www.kiva.org, redeem their gift online and then choose an entrepreneur to lend to, such as Damaso Clares of Bolivia, who needs $600 to buy a dairy cow, or Judith Mumbo of Kenya who needs $175 to purchase a machine for her candle-making business. Lenders then choose the amount they would like to contribute to the loan, starting at $25. Throughout the course of the loan (typically 12 months) lenders receive email updates on repayments made and the progress of the business. When the loan is repaid, the funds are returned in full to the lenders -- the ultimate recycling of money!

Why Lend?

Kiva Lenders are attracted to the personal connection they feel with the entrepreneur whose business they have invested in, and the feeling of mutual respect and dignity encouraged through lending rather than donating. Ann, a lender from Seattle, said: "This was my opportunity to invest in someone else's dream. It's rewarding to know that you don't have to give much to make a huge difference in someone's life."

Lenders even find themselves "addicted" to the Kiva.org website, watching their portfolio of investments grow as loans are repaid, reloaned and new loans added. Kiva Lender Steve, of Illinois, compares his Kiva portfolio to his personal banking investment portfolio: "Conventional investment wisdom is to have a diversified portfolio of investments; this was the first time I considered emotional rewards as something I could expect besides the occasional dividend. It certainly is habit-forming."

Since its launch in 2005, more than $14 million has been loaned by 140,000 Kiva Lenders to 22,000 entrepreneurs in 37 countries.