Who knew that a Ugandan caterer was a better investment than my 401k?
About a year ago, I joined my first Kiva loan, to Zaituni Mudoobi's group of caterers in Kireka, Uganda. 44 of us made a total loan of $1,350 (my share was only $25). At the time, I wondered if it'd really be paid off. A year later, I have my answer. Yep.
My own house payments were never this regular. The last payment of $112.50 reached Kiva at the end of January. Never a late payment. Never a short payment.
The loan was interest free on this end, so I didn't actually make any money. But at the end of one year, I still have my $25 to use as I please, and Zaituni's business is still going strong. Meanwhile, my retirement funds lost roughly 4,000% and a lot of "smart" financiers lost their cufflinked shirts from under those $3,000 suits.
So now I have a choice. I can take my money back out and use it to go see Fired Up. Or I can plow that same $25 back into another up-and-coming Kiva business.
Guess which one I chose.
CLICK HERE TO LEARN MORE ABOUT KIVA MICROLOANS.
3/10/09
KIVA UPDATE: First loan pays off!
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2 comments:
so what's the new business you pumped it into? Cool to see it paid back!
Good question! It's a small grocery in Paraguay run by Susana Gonzalez. You can see her info here.
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