Microloan Update I

By Scot Herrick | Personal Finance

Jan 31

moseskwambaEarlier, I wrote about how I was starting to do microloans as a way of helping out others create their own business in Microloans Rock.

I had loaned dollars to Moses Kwamba, who’s smiling face graces this blog post in his tailoring shop, who is looking to expand his business based upon some new contracts.

I just received notification that his loan was disbursed, including my $50 portion, and is now in the hands of Moses.

Now, the entrepreneur part kicks in and Moses uses the loan for what it was designed, works the business, and starts to pay the loan back.

There is something to be said for going out there, hiring additional help, working the contracts to get more business, and continuing to grow. One has to admire Moses, working in a much tougher environment than us cubicle warriors.

Think about how you provide dollars to help others. Then consider a microloan.

  • Mary Jo says:

    Kiva is a wonderful micro-loan program. I visit the site regularly, just to watch the progress of these entrepeneurs. It’s a good place to “put your money where your mouth is.”

  • Scot Herrick says:

    Hi Mary Jo,

    Yes, I was totally surprised when I found the site via StartupSpark.com. It is a great way to support someone in their efforts to work the business.

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