Loan to an enterpereneur in Tanzania

[Guest]

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[asingh19]

I visited Tanzania two years ago and met a young man who had good business ideas and ambition. I wanted to help him out, so I bought 50 batiks (wax paintings on cloth) from him and sold them here in the US. While I don't think that is a sustainable idea, I have recently reading more and more about microloans.

This young man has recently contacted me asking for more help. I would like to give him a loan, but feel a little sketchy wiring him a lot of money and just trusting him to pay me back. He seems trustworthy, but you never know.

Does anyone know how I can get this young man registered on Kiva so that I can just lend to him through Kiva. I would feel like he loan is more legitimate that way.

Thanks,
Amit

[Canadian Here]

Hi!
I'm really new to KIVA myself so what I am about to write my not be correct. If I am wrong, PLEASE SOMEONE CORRECT ME!
As I understand it, your friend in Tanzania would have to go to a Microfinance Insitiution (MFI) that is on the KIVA list. (See KIVA website re: approved partners.) There is at least one that I know of in Tanzania because I have persoanally loaned to se3veral people in that country through KIVA. The borrower, I imagine, would have to meet whatever qualificiations the MFI establishes likely relating to age, gender and perhaps other variables. I know some MFI's tend to 'specialize' (i.e. funding women, funding youth etc.) I am beginning to get fuzzy here because I have no idea what the criteria may be and I assume they vary, from one MFI to another.
How you friend's loan request ends up getting posted here and funded through KIVA, I believe, is the function of the MFI. I have no idea as to the timelines for it to actually appear here.
Can someone else with more knowledge/experience help out here?
Thanks!
Lorna

[cpbailey]

Amit,

I would recommend following the advice that Lorna gave you as it is accurate.  Look up microfinance organizations which Kiva is working with in Tanzania to see if there is a match close by.  Then have your friend contact that organization for a loan.  Perhaps phrase it that going through Kiva will save the both of you wire transfer costs, and this will remove the issue of trust as a concern.

Alternatively, see if Todofono would be interested in his work.  I don't know what the process is for that.

A third option would be (if you are willing) to have him ship you the products and sell them again, and THEN you wire or transfer funds to him.  You would have to check into any restrictions on imports and exports with this...

Colette