11/06/2005

Daily Kos: Microcredit update and a Message from Kiva's founder

Microcredit update and a Message from Kiva's founder
by Chris Kulczycki [Subscribe]
Wed Nov 02, 2005 at 07:08:15 AM CDT


Dear Daily Kos Readers:

You are a remarkable group of people. The instant we were introduced on Daily Kos was the instant that everything changed for Kiva -- and for the lives of many African entrepreneurs. You have made a serious impact and I hope you can understand the depth of the change you have caused.

I have spent the last week trying to explain to the African staff members what has occurred. Many of them are familiar with blogs, but were previously unfamiliar with the impact they can have on the world. These staff also try to explain to prospective entrepreneurs that the loans they receive come from individuals who want them to succeed more than anything else. This is a rather new concept to most entrepreneurs in rural Uganda. Before Kiva, many only knew about loan sharks in these areas who make peoples' lives miserable and charge extremely high interest rates.

Continued

* Chris Kulczycki's diary :: ::
*


We are now faced with the challenge of meeting the huge outpouring of support that has resulted from the publicity and subsequent interest. Kiva will only scale as fast as is healthy for us and the for villages in which our partners work. Our first partner, Village Enterprise Fund, is an incredible organization that is capable of meeting the demand -- but this will not happen instantly. VEF staff in East Africa will be using their expertise to list new businesses on our site by December 1st. We appreciate your patience as we work to make this happen as quickly as possible.

You have changed my life as well. Thank you.

Matt Flannery
Co-founder, Kiva.org

This letter refers to those of you who responded to a diary last week about microcredit and Kiva. The dKOS community's incredible outpouring of donations funded every single Kiva business. We really should be proud.

Matt Flannery has a new blog, The Kiva Chronicles at Social Edge.

The comments to that diary also contained a wealth of information about organizations engaged in microcredit lending and invaluable information about microcredit in general.

Daily Kos: Microcredit update and a Message from Kiva's founder

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