Do you know that Kiva, the micro lending organization funded by regular folks like us, has expanded to the US? Were excited that two of our favorite farmers (and the photographer who donated her considerable talent and time to the Arcadia Mobile Market Cookbook) are signed up! Heres the cool thing: unlike other crowd funding operations, in Kiva you get your money back -- it is actually a loan. (You can choose to leave the money in Kiva and just roll it over to another project.) Some crazy number like 96 percent of loans are 100 percent paid back in the time allotted. Way better than bank loans. Most of the loans are paid back in 6 months, but for farmers like Mike and Molly, they have 36 months (because farms take a while to see a return on investment… in this case, lambs!). They need 15 loans, of any size, to qualify, then have 60 days to raise their total amount. Learn more about Kiva and Mike and Molly here!
Posted on: Wed, 10 Sep 2014 15:53:35 +0000
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