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The San Francisco nonprofit Kiva Microfunds has begun selling gift cards that can be used to fund microfinance loans to recipients in developing countries.
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The cards, announced Wednesday, are sold in increments of $25, the minimum amount a person is able to loan on Kiva's Web site. Lenders do not earn interest on the loans, and can choose to donate some or all of the repaid principal to the company to cover its operating expenses.
Gift card recipients can choose a borrower on Kiva's Web site and can withdraw or reinvest funds as soon as the borrower begins to repay the loan.
