Friday, December 01, 2006

Something Else to Do with Your Money

We found out about on an episode of Frontline called Uganda: a Little Goes a Long Way that we saw(and you can watch online by clicking on the link). It's a microcredit organization based out of San Francisco. It allows people to loan money to small business owners in the developing world. The small business owners use the money for whatever they feel they need to improve their businesses. Some build a new house as a headquarters for their work, others buy machinery, and some just buy more stock. The organization in San Francisco uses non profit organizations in a variety of countries to evaluate and support the people requesting the loans.

Most loans are between $500 and $2000, and are provided by several people. The loans are repaid over 6 to 18 months. Once the loan has been repaid, the money you loaned is returned to you to withdraw or to loan again. So far, the organization has a 100% repayment rate.

Karla and I made our first loan. I was hoping to make a donation to a Nigerian or Cambodian, but as no loans were currently requested from either of them, I chose a widow from Mexico who prepares and sells food to care for her 6 children. It was only $25. At the time of writing this, she still needs $200. There is a link in the sidebar, to her (and after all her money is raised, to others).

In other family news, we are now only one week away from heading back to Canada. I sent an email to Jocelyn, the owner of Fernie Academy, to set up an interview to talk about working at the school next year. I hope that by the end of the vacation we will know what wwe are going to do next year.

It's our last weekend in Colombia, and so we've got to get everything finished off. Karla is relaxing tonight watching Anne of Green Gables. I'm doing a bit of work and posting to the blog. Tomorrow and Sunday, we have a busy schedule of work. Good night all.

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