#1
Hey!

I usually don't give money to chairity. Partly because I don't have that much money, but most because it feels like I don't see where the money goes. It could just go down in some rich peoples pocket.

I came across this video about a site where you can loan money to poor people and then get it back when they make money with the business you helped them finance.

Check out the video when they explain how it works! Is it worth a shot?

http://tongal.com/app/submissionDetail.action?id=649;FK
#3
No it's not like a band or investment. More like a personal thing. Charity without having to give money, just lend.

Hard to explain like this, check the video!
#4
I'd rarther just give them spare change rarther than entering this some whats sketchy scene tbh, i dont have that much money also, but tbh i give what i can spare to people sat on the streets etc

And i agree with the above poster, unless you've got a big fan base this could be a waste of time

And the comments on the vid seem a bit, scripted
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#5
Microloans? Isn't it more like microcredit? Anyways, I think its a nice idea that has been around for a while. The problem though, is that the money is not enough to help a poor person start off a business. It is more like, a small temporary loan that can be invested in an existing business in a time of need. This isn't always the came, but most of the time, this holds true. Either way, microfinancing beats small local lenders. The latter love charging insane interest rates and use a ton of violence to get money if they want. Microfinancing has violence too, but not external, internal. Say if five people borrow money as a group, and one doesn't pay back. The other four will forcefully take his money.

Another problem that I think happens quite frequently is that the poor use this as first aid. The money meant for investment goes towards things like food, water, and sometimes even education.

Its a nice change to have in the attempt to cure poverty but the same old problems that make poverty cyclical remain. Even if the poor person's business gets up and running, anyone knows that the first few years of a business, the owner is just paying back startup costs. However, assuming that they get past even that, they'll still have health bills to deal with. So yeah, a lot of them are probably going to fall back into poverty...

Btw, yeah its worth a shot. Doesn't hurt anyone.
#7
You got some good points there Limaj.

But I do believe in the concept "give a man a fish and he'll have food for a day, teach a man to fish and he'll have food for life"

An existing business is probably required I guess. So this kind of charity doesn't help everyone. But maybe a growing business can expand and hire other poor people.

I think i'm gonna lend 25$ just to see where it goes and how they use it. And see how long it will take to get it back.