December 15, 2009

micro lending from tokyo to mali

fusionbureau often helps foreign companies in Japan with visual identity, business development, competitive analysis, localization and their online presence. So it was interesting to find out we also could help individuals develop their business ideas across the globe through the Kiva person-to-person micro-lending service.

By lending a small amount of money these entrepreneurs can invest and be self-sustaining, thus lifting them out of the poverty loop. This is a direct result of how internet has initiated a paradigm shift from a limited amount of big players, to a mass market of small players. Yahoo still used the old advertising model, but Google understood that it's better to attract millions of small budgets, and have customers manage their own distribution channels. Systems should be scalable and flexible to allow end users to find their own applications.

Kiva is interesting in two ways. Not only does it help small entrepreneurs invest in their future (too insignificant for financial institutions to be bothered), but it also shows how by building the right tools on internet people can solve their own problems. The platform is more powerful than pre-defined solutions. We will see this implemented in more areas such as education and collaborative tools.

So far Kiva has allowed us to lend a small amount to Susan's embroidery shop in Peru, and Saniya's food stall in Mali. This would have been impossible just a few years ago.

http://www.kiva.org
Kiva's mission is to connect people through lending for the sake of alleviating poverty. Kiva is the world's first person-to-person micro-lending website, empowering individuals to lend to unique entrepreneurs around the globe.