Kiva Lender Dino

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Location:
Seoul, Korea, Republic of
Occupation:
Attorney
I loan because:
In law school, bankruptcy class taught me one thing most clearly: loans targeted at low income borrowers are horrifying. Domestically, payday loans, check cashing services, auto title loans, etc. have the highest interest rates (sometimes well over 1000% APR), and do much more harm than good. Internationally, it's the same--if credit is even available at all. But the men and women on Kiva.org are not looking for *consumer* loans, they're looking for *capital* loans. That makes all the difference. The interest rates they would normally face don't reflect the decreased risk they pose to a lender. Lending is also far more effective than charity. Well-intentioned as they are, many charities provide food/goods/services/cash according to what they believe the donee community needs. But the member of that community are in the best position to know what they need, and capital loans through Kiva are used wisely in pursuit of specific goals. The obligation to repay ensures that it will be spent prudently. I want to people to see that globalization is not a bad thing, and that commerce and free trade can and DO really help people. To put it simply: The ONLY effective means of achieving peace and prosperity in the world is the interconnection of financial interests across borders. Period.
About me:
International Trade and Business Law
Member Since:
Feb 16, 2007
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Dino's loans

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