Washing machine rental – Is your idea this good?

In September of last year I made a small loan to a lady in Columbia.  Although I don’t know Yaneris Canate Rios personally, she made an application for $1,125 through Kiva.org.  In Yaneris’ tiny community of El Milagro the ladies still all washed their clothes by hand.  She wanted to purchase 5 washing machines to rent to her neighbors.  I provided the last $50 to complete her loan.  Each month I would see tiny payments come on – averaging about $3.84 as a repayment on that loan.

This morning I received a note from Kiva:  Success!! The loan was 100% repaid.  Yaneris was set up on an 18
month repayment schedule but completed it in 13.

This is an actual picture of this lady with her washing machines.  I find this totally exciting – to see a lady in poverty create a plan to improve her own life and that of her neighbors.

I am now looking at other projects in which to invest that same $50.  I never take it out – just look for another interesting business to participate in.

Okay – what’s your idea and plan?  What could you do with a $1,125 loan where you could repay it in 13 months and be providing ongoing income for your family?  Is it convincing enough to get 23 people to loan you $50?

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