ExpanDrive

One of our goals starting Magnetk, apart from making great software, was to create something from nothing. To work hard, be creative, and just “live off the land”. We’re an entirely bootstrapped company, with no outside investor.In the [many] months preceding the release of SftpDrive 1.0, we would pick up the occasional odd programming job to help pay the bills, and feed Dave’s insatiable appetite. One distinct luxury of being an American software developer living in Boston was that the occasional odd job paid rather well. In a different place, or a different industry, this certainly wouldn’t be possible.We consider ourselves lucky to be doing what we are doing — there are relatively few types of companies out there that require almost no up-front capital investment. In the developing world, where resources for entrepreneurs are even more limited, that task becomes even more difficult. Kiva is an amazing company started by a fellow Stanford graduate that provides a great way for us to help give back.

“Kiva lets you connect with and loan money to unique small businesses in the developing world. By choosing a business on Kiva.org, you can “sponsor a business” and help the world’s working poor make great strides towards economic independence. Throughout the course of the loan (usually 6-12 months), you can receive email journal updates from the business you’ve sponsored. As loans are repaid, you get your loan money back.”

Magnetk has participated in a loan through Kiva to help expand a small family business in Cambodia which sells duck eggs. We encourage you to take a look around Kiva’s and consider participating in a loan if you have the means. Micro-loans are one of the most effective means of encouraging economic growth and independence in the developing world.