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The Mermaid Inn's Contribution
We're firm believers that if you "Give a man a fish, you feed him for a day, but if you teach a man to fish you feed him for a lifetime." In hopes of putting this sentiment into practice, we donate a percentage of our total sales from both locations every Sunday night to Kiva.org, a non-profit microfinance organization that distributes loans to low-income entrepreneurs in developing countries.
What is Microfinance?
Simply put, microfinance is "the supply of loans, savings, and other basic financial services to the poor" (CGAP). Organizations such as Kiva partner with microfinance institutions throughout the world that dispense loans collected through Kiva to mostly female low-income entrepreneurs. A small loan, as little as $25, can help self-employed entrepreneurs purchase business-related goods to help sustain and improve their businesses.
Why Kiva?
Unlike other organizations, Kiva lets you see exactly who your money goes to and what they are doing with it. Lenders can visit Kiva.org and browse through profiles of low-income entrepreneurs such as a grocery store owner in Cambodia or a seamstress in Mexico and see how much money they need to further their business. Through the course of the loan (usually 6 to 12 months), lenders receive email journal updates from the sponsored business owner. Once the loan is repaid (Kiva loans have a default rate of .2%), lenders can withdraw their money or re-loan with another entrepreneur.
For more information on Kiva please follow the link below:
 http://images.kiva.org/s/content/about/images/KIVA_flier1_6.1.07.pdf
For more information on our charity work, please click on the links below.
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