Micro-finance

We have all heard about Muhammed Yunus, the Nobel Peace prize winner, and his micro-financing project for the lower income group, which has turned out to be a boon for the people belonging to this category. His work focusses on giving loans of small amounts to villagers at easy terms.

Recently I was reading an article and came to know that there are a couple of organizations that have adopted this model and helping out the needy. If you thought that only banks can give loans then there's news for you: people like you and me can also loan money to those who need through these organizations. Some of them let you loan the money while others let you donate. So in the former case, you will be repaid back whatever amount you loaned depending on the term of the loan. That means, if you loaned a $100 for 12 months all you lose is the interest you would've gained on it. Assuming 8% gain, you only lose $8. In other words, by just donating $8 you are making a world of a difference to some people in this world. Not to mention that it would add to your karma.

Some of such organizations are:
Kiva

• Lets you loan the money.
• Minimum amount is $25!
• You can choose the person whom you want to loan the money.
• They have projects almost all over the world.
• Online payment facility.
• As the loanee pays back, money is credited to your account.
  

Grameen

• Many ways of giving: donation, funding a child's education, stocks, etc.
• Minimum amount is $10.
• Project of Muhammad Yunus.
• They have projects all over the world.
• Online payment facility

Global Living

• Provides you the facility to donate your money for a good cause.
• There does not seem to be a minimum amount specified.
• You can choose the project that you want to donate your money to.
• They have a variety of projects from AIDS to environment to education; you can choose whatever area you want to focus on.
• Again, they also have projects almost all over the world.
  

So what are you waiting for?!?! As small an amount as $10 from your pocket, can help: build somebody's house, educate a child, provide healthcare, empower women, save environment, provide food to somebody, etc. Did you know that your $10 went such a long way?!?!