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EDMONTON, AB, September 27, 2010 /24-7PressRelease/ -- Saying that he wants to help budding entrepreneurs around the world to earn their way out of poverty, Jesse Willms donated $25,000 to the Kiva Foundation.
"In the 21st century, poverty doesn't need to exist," Willms said. "Working with organizations like Kiva, we can make it a thing of the past."
The Kiva Foundation provides microloans for people in Third World countries who want to start their own small businesses. When people start their own companies, they are often able to break the cycle of poverty and join the middle class - while functioning as a symbol of hope for their entire communities.
It costs very little to start up a business in a developing country - often less than $300. Banks, unfortunately, are unwilling to make loans to cover these start-up costs. Kiva fills the gap by matching these would-be entrepreneurs with people who are willing to provide them with start-up resources.
"I am proud to give people a helping hand and the opportunity to better their lives," Willms said. "If you give a person a fish, you feed them for a day. If you teach them how to fish you help them feed themselves for the rest of their lives."
Kiva loans have an outstanding success rate. More than 98 percent of them are paid back -a much higher rate than most bank loans. The majority of Kiva loans are made to female entrepreneurs, providing a level of independence that is rare for women in many developing nations.
Jesse Willms' donation to Kiva will help 250 people get their businesses up and running. As each loan is paid back, Willms will use that money to fund additional entrepreneurs, in an ongoing cycle.
"I started out supporting Kiva this summer with a $1,000 donation that helped 10 people start their own businesses," Willms said. "All of them became successful, so I decided to make a much larger commitment and partnership with Kiva. I respect success and am more than willing to reward it."
Internet entrepreneur Jesse Willms knows very well what it is like to start your own company. He began making money online when he was only 16 years old, buying and selling computers and software online. By the time he was 22 he had launched several successful companies.
"I know how these people feel, and I fully support their drive to create profitable companies," Willms said.
Willms started giving money to charities this summer after he was inspired by the philanthropic efforts of Bill Gates and Warren Buffett. He has since partnered with several charities, most of which help women and children.
Some of the entrepreneurs Jesse Willms has helped are:
Batmunh Naidansuren - Retail, Mongolia
Twegatte Women's Group - General Store, Uganda
Van Peov - Farming, Cambodia
Berdimurat Suragan - Bricks, Mongolia
Luz Gladis - Pigs, Peru
Artak Minasyan - Agriculture, Armenia
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