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Author Topic: Kiva - Microlending to the less fortunate  (Read 433 times)
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Zaxxon
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« on: September 06, 2013, 05:55:29 PM »

I've been a proponent of Kiva for several years now.  Kiva is a microfinance group that takes lending funds from folks like you and me and provides it interest-free to on-the-ground partners in impoverished areas who then manage loans to local people. The end result is that those folks are able to obtain funding for various projects at better terms than they'd get through a bank (if there's even such a thing as a bank where they're at, and if they could even hope to be approved).

At the end of a loan, you can either take your money back or re-lend it. (Defaults are very rare-- <1%.) It thus makes a good 'keeps on giving' charity as you can periodically put in small amounts and keep re-lending as time goes on. It's a cool feeling to put in $25 and see it help multiple people--and you can still (with 99% confidence) take it back out in the future.

I'm trying to participate more on GT since you were all so gracious hosting all of us OOers during the recent OOtage, and figured sharing Kiva was a good way to start.  We have a Kiva group going on over at OO that you are welcome to join in on, or feel free to create your own.  I thought since we have a large cross-forum contingency that joining forces in one group would make sense.

Further, right now Kiva is running a free $25 to lend promotion for new members, where when you sign up, a rich-guy Kiva friend gives you $25 to lend.  So far our group has lent $2600 and to my knowledge no loans have fallen through without being repaid.
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EngineNo9
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« Reply #1 on: September 06, 2013, 07:03:00 PM »

Very cool, thanks for the info, Zaxxon!  I'll definitely look into this a bit more when I get a little time, and look into joining the OO group if no GT group pops up.  smile
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Zaxxon
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« Reply #2 on: September 06, 2013, 08:30:08 PM »

Quote from: EngineNo9 on September 06, 2013, 07:03:00 PM

Very cool, thanks for the info, Zaxxon!  I'll definitely look into this a bit more when I get a little time, and look into joining the OO group if no GT group pops up.  smile

Sweet!
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Zaxxon
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« Reply #3 on: September 09, 2013, 03:05:59 PM »

FWIW, a bunch more loans went out this weekend--if any of those were stealth GT members, thanks! 
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Punisher
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« Reply #4 on: September 10, 2013, 12:56:36 AM »

Signed up as Anonymous and sent a request to join OO.. No free $25 though...
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Zaxxon
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« Reply #5 on: September 10, 2013, 12:59:20 AM »

Quote from: Punisher on September 10, 2013, 12:56:36 AM

Signed up as Anonymous and sent a request to join OO.. No free $25 though...

Just OKed your team join.  Odd on the bonus, as I got one today on an invitee join. Maybe there's a delay.
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Zaxxon
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« Reply #6 on: September 10, 2013, 01:06:22 AM »

In fact, I got a bonus just now for your join using my invite link.  According to the promotion you should have one, too.  Not sure why you wouldn't.
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EngineNo9
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« Reply #7 on: September 10, 2013, 03:23:19 AM »

I just requested to join as well, with my name Shane. 
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Zaxxon
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« Reply #8 on: September 10, 2013, 03:42:15 AM »

Quote from: EngineNo9 on September 10, 2013, 03:23:19 AM

I just requested to join as well, with my name Shane. 

Acceptified!
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Zaxxon
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« Reply #9 on: December 03, 2013, 10:39:09 PM »

Getting really close to our 100th team loan now (96 currently).  Perhaps consider spreading some holiday cheer if the year has been good to you.

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Canuck
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« Reply #10 on: December 03, 2013, 11:03:16 PM »

Thanks for posting this. I've heard about this before but never gotten around to doing anything. I'll join you guys today after work if I have some time (and if not then definitely the next day). It sounds fun. Do we get reports about how the money is spent and the end result?
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Zaxxon
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« Reply #11 on: January 09, 2014, 05:49:39 PM »

Quote from: Canuck on December 03, 2013, 11:03:16 PM

Thanks for posting this. I've heard about this before but never gotten around to doing anything. I'll join you guys today after work if I have some time (and if not then definitely the next day). It sounds fun. Do we get reports about how the money is spent and the end result?

Sorry for the late reply... Yes, mist of the time you will receive a periodic update, but that depends on the Kiva partner on the ground. Some are better than others.
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Knightshade Dragon
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« Reply #12 on: January 09, 2014, 06:11:51 PM »

That's pretty damned cool Zaxxon!  I missed this during the holiday madness, but that's cool.  I think I'll take a look myself!
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Zaxxon
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« Reply #13 on: January 09, 2014, 06:18:09 PM »

Quote from: Knightshade Dragon on January 09, 2014, 06:11:51 PM

That's pretty damned cool Zaxxon!  I missed this during the holiday madness, but that's cool.  I think I'll take a look myself!

Sweet! 

Since my initial post in Sept, the group has moved from $2,600 lent to over $3,400.  The more, the merrier!
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