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[personal profile] vgqn
Kiva, an organization that facilitates microloans to people in need, is offering a free $25 credit at Kiva to first time Kiva lenders to make a loan. Of course, what they'd really like is for people to then make more loans with their own money. As Kiva loans get paid back, the funds revert to your Kiva account so you can lend the money out over and over again. (Assuming the recipient doesn't default, but very few of them do.) Note that the payback from the free $25 loan goes back to Kiva's account, so you'd have to pony up your own $25 to be able to reloan. I've got several loans revolving through the system. It's fun!

Date: 2011-12-29 07:35 pm (UTC)
From: [identity profile]
I've been considering it.

Date: 2011-12-30 08:22 pm (UTC)
From: [identity profile]
There are pros and cons, as with any system, but it seems like more pros to me.

Date: 2011-12-30 05:05 pm (UTC)
From: [identity profile]
excellent way of doing it - seeing the loan get repaid wil give people confidence to lend their own money

have amplified signal onto twitter (& used the link to make a loan - had a Beggars in Spain moment of 'how do you choose when there are more people than you can ever help' so I spun the mouse randomly and as the first place I stopped looked a plausible project, funded that)
Edited Date: 2011-12-30 05:06 pm (UTC)

Date: 2011-12-30 08:20 pm (UTC)
From: [identity profile]
Excellent, on both the loan and the amplification!

I know what you mean about Beggars in Spain. I have a few criteria I use to narrow down my decisions: always women, preferably in agriculture or food, preferably farming in some sustainable way. I won't give anyone money to buy synthetic fertilizer, that's a never-ending cycle. I don't know how much difference it really makes, because I think every loan gets funded eventually. But I'm happier because I'm more, ahem, invested in my decision.

Date: 2011-12-30 08:22 pm (UTC)
From: [identity profile]
I looked for something useful with a business/repayment model - this was a loan to buy charcoal to resell - that was already part funded to make it more likely to be useful; the agriculture makes sense for you ;-)

Date: 2011-12-30 07:39 pm (UTC)
From: [identity profile]
My cash flow is currently actually positive enough to consider tsedakah . . .

Date: 2011-12-30 08:21 pm (UTC)
From: [identity profile]
Cool, and congrats on the positive cash flow.


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