Many of the world's poor run small businesses to provide for themselves and
their families, and these impoverished entrepreneurs need capital for their
business to survive and in order to have the potential to grow. This desire for
small (micro-) amounts of capital (-finance) is the basis of the need for the field of
microfinance. Today about 500 million people globally are in need of the small
loans made possible through MFIs (Microfinance Institutions). The needs of only
100 million of these people are being addressed, meaning that 80% of the global
demand has yet to be met.
Now, a non-profit organization by the name of Kiva.org uses the power of the internet to connect an impoverished entrepreneur such as an Ugandan farmer and yourself. Through the use of Paypal, anyone around the globe can make a micro-loan as small as $25 to an entrepreneur in the developing world and help the fight against poverty. The greatest benefit of the entire process is that it is a loan meaning you get repaid on average above 98% of the time. While this organization has been monumental in the advancement of microfinance and have made fighting poverty attainable for the average adult, I felt that for me as a high school student it was difficult to contribute to something that I was passionate for.