Dec 20, 2015, 4:45 am
Last edit by: wilsnunn
The FlyerTalk Lending Team on Kiva:
improving lives a small loan at a time.
Kiva.org is the not-for-profit microlending organization that networks people willing to lend to small entrepreneurs in developing nations using available technology and international networking / collaboration, and how Kiva.org had become an approved FlyerTalk charity thanks to TalkBoard's approval June 29, 2008 <link> It is listed on the FlyerTalk Cares page.improving lives a small loan at a time.
"Kiva is a grassroots project started by a team with a big idea: one-to-one, real-time lending to the poor via the Internet. Currently, we take no cut of the loan you make through our site -- 100% goes to the entrepreneur. We suggest a 10% donation, in addition to your loan, to help us cover our costs. Kiva is a 501(c)(3) nonprofit and your donation is tax-deductible for US taxpayers." (Suggested donations for administrative overhead, low though that is, are not required - you may lend 100% if you so choose.)
As of 15 May 2016 it was 607 FlyerTalk lending team who have lent $2,209,175 in 37,092 loans! And now as of 30 June 2019 it is 941 members who have lent $6,415,775 in 71,722 loans!
Our motto is: "We loan because: We want to fight global poverty while earning miles."
This is tangible evidence Flyertalk Cares! There are likely other FlyerTalkers on Kiva who have not joined - if you are one of them, do so now to show your and FT's support and involvement. If you haven't lent yet, check it out - you may want to join up. For the low-income entrepreneurs on five continents who are requesting loans, microlending is significant - and it takes a lot of drops to fill the bucket. (Read on to see updates!)
Now, we can see this sophisticated network link resources from those who can lend (no interest, sorry!) with those who are needy, worthy and screened by local NGOs and have a need to start / expand their small business to enhance their and their families' survival. And, using PayPal and your FFP/FFG linked card or account, you can earn miles or points with many loans!
FlyerTalkers are lending, and fulfilling one of FT's seminal values, that of "paying it forward."
Read more about Kiva.org, who supports and enables it (Intel, Google, Paypal, Intuit and many others,) and see if you have $25.00 (or more) you can lend someone deserving in a land you have visited and enjoyed (or not.)
This is how it works:
Add your experiences here, or if you haven't joined... won't you consider joining the FlyerTalker Lending Team?
You can see who the latest FT borrowers are (some still possibly needing loans) here
For ease, you can click here: Subscribe to FlyerTalker Lending Team on Kiva.org
FlyerTalker Lending Team on Kiva.org!
Dec 16, 2014, 2:41 pm
#1186
A FlyerTalk Posting Legend
Join Date: May 2002
Location: YEG
Programs: HH Silver
Posts: 56,438
I'll bump this thread to remind readers that for the hard to buy for people on your Christmas list I've found Kiva gifts work very well as it gets the recipient involved says something more than a box of chocolates. Easily emailed too.
'Tis the season.
'Tis the season.
Jan 23, 2015, 7:03 pm
#1187
Senior Moderator and Moderator: American AAdvantage & TravelBuzz
Join Date: Nov 2007
Location: BOS
Programs: AA EXP, Marriott Titanium
Posts: 10,413
As of today (23 Jan 2015), we're at:
484 Team Members
$1,099,425 Amount Loaned
22,445 Loans
Wow - already almost $1.1 million in loans. Onwards and upwards! ^
Jan 31, 2015, 11:53 am
#1188
Join Date: Jan 2004
Location: Louisville, KY, USA
Posts: 2,583
Of 37,288 lending teams on Kiva, the Flyertalk team is number 39 in amount loaned. Our 487 members have lent $1,117,825 in 22,647 loans. in size we rank 92nd. As for number of loans made, we rank 52nd.
So proud of us. I'll add a loan to the team today.
So proud of us. I'll add a loan to the team today.
Feb 8, 2015, 10:26 pm
#1189
Join Date: Mar 2011
Programs: AA, UA, DL, AS, LH, BA, VS, HHonors, Hyatt, Club Carlson, IHG, Marriott
Posts: 833
Not sure if it has been discussed before, but there's a lot of controversy on the effectiveness and long-term negative impact that micro-lenders like Kiva have on reducing poverty:
The joys of pretending to help the poor: The Kiva Story
They are just basically saying that the likes of Kiva do more harm than good and actually increase poverty through usury interest rates (sometimes as high as 100%) that their lenders charge.
I'm sure everyone participating has good intentions but maybe you should at least think about it or do some research first. I was also unaware of many of the facts pointed out at the article listed above so now I'm searching for other better alternatives. Any suggestions?
The joys of pretending to help the poor: The Kiva Story
They are just basically saying that the likes of Kiva do more harm than good and actually increase poverty through usury interest rates (sometimes as high as 100%) that their lenders charge.
I'm sure everyone participating has good intentions but maybe you should at least think about it or do some research first. I was also unaware of many of the facts pointed out at the article listed above so now I'm searching for other better alternatives. Any suggestions?
Feb 9, 2015, 2:23 pm
#1190
Join Date: Mar 2010
Location: mountains of western NC
Programs: Life, Love and Laughter
Posts: 8,533
If you are concerned about interest rates, then lend on Kiva Zip where there is no interest charged. Or use Kiva's search criteria to find loans with lower interest rates.
Feb 10, 2015, 8:46 am
#1191
Join Date: Mar 2011
Programs: AA, UA, DL, AS, LH, BA, VS, HHonors, Hyatt, Club Carlson, IHG, Marriott
Posts: 833
The borrowers do have to pay interest and very high in many instances. Lenders don't get repaid that interest. The problem is not the latter but the former in which borrowers get deep in debt trying to repay those loans.
Feb 10, 2015, 9:05 am
#1192
Join Date: Mar 2010
Location: mountains of western NC
Programs: Life, Love and Laughter
Posts: 8,533
And on regular Kiva, you can use their search criteria to find loans with a low interest rate.
Feb 11, 2015, 12:27 am
#1193
Join Date: Mar 2011
Programs: AA, UA, DL, AS, LH, BA, VS, HHonors, Hyatt, Club Carlson, IHG, Marriott
Posts: 833
Feb 11, 2015, 5:40 am
#1194
Join Date: Mar 2010
Location: mountains of western NC
Programs: Life, Love and Laughter
Posts: 8,533
Go to the Kiva lend page.
the scroll down the left column and click on the words "advanced options"
keep scrolling down until you see "average cost to borrowers"
Set the green bar below at whatever % you think is fair, then look at the loans offered.
I didn't read the article you posted, but I have seen many articles like it and they all seem to ignore what it is really like to make loans in poor rural areas of countries that have little modern infrastructure. When I have read the stories of what it is actually like to operate a lending organization/institution, I am amazed that interest rates are as low as they are. It requires a lot of dedication, risk and determination to operate in many of those places. Ever thought of making loans in a country/region wracked by civil war? How about loaning to someone who lives a full day of travel (by foot, bicycle or moped) from any lending office? Well, some Kiva field partners do it.
But my basic point is if you are uncomfortable with loans that have a high interest rate, then Kiva Zip has made 8000 no interest loans. And I am sure that there are other alternatives as well.
Anyway, my basic point is
Mar 1, 2015, 11:08 pm
#1195
Join Date: Aug 2011
Location: The Phoenix Desert
Programs: Hilton Cubic Zirconia, Marriott Fools Gold
Posts: 1,692
Well according to my Kiva profile, I joined in Dec '13, but I just funded my 4 first loans tonite I hope to do some more in a few months as I earn cb from MS in other ways. Some of you FTers have staggering loan numbers ^^ Well done!!
In regards to the previous posts, what cost to borrowers do you guys typically go for? I missed this section as I was more focused on what they'd "do with the loan" and how likely it would be for me to get repaid.
I hope to do some more in a few months as I earn cb from MS in other ways. Some of you FTers have staggering loan numbers ^^ Well done!!In regards to the previous posts, what cost to borrowers do you guys typically go for? I missed this section as I was more focused on what they'd "do with the loan" and how likely it would be for me to get repaid.
Mar 4, 2015, 11:44 am
#1196
Senior Moderator and Moderator: American AAdvantage & TravelBuzz
Join Date: Nov 2007
Location: BOS
Programs: AA EXP, Marriott Titanium
Posts: 10,413
Well according to my Kiva profile, I joined in Dec '13, but I just funded my 4 first loans tonite I hope to do some more in a few months as I earn cb from MS in other ways. Some of you FTers have staggering loan numbers ^^ Well done!!
In regards to the previous posts, what cost to borrowers do you guys typically go for? I missed this section as I was more focused on what they'd "do with the loan" and how likely it would be for me to get repaid.
I hope to do some more in a few months as I earn cb from MS in other ways. Some of you FTers have staggering loan numbers ^^ Well done!!In regards to the previous posts, what cost to borrowers do you guys typically go for? I missed this section as I was more focused on what they'd "do with the loan" and how likely it would be for me to get repaid.
I tend to focus on the quality of the microfinancing institution (MFI). Personally, I loan to the ones that provide the most education and services to their members. The cost to borrowers really does vary quite a bit from environment to environment. Loans being made in countries with some semblance of banking and transportation infrastructure tend to be lower cost to service. Loans made in countries where it takes a loan officer 7-8 hours round-trip just to visit a member to collect their monthly/weekly repayments will obviously incur much higher costs.
I focus a lot about the education piece because I really do hope that we're lending a hand up, not a hand out. I don't want borrowers to become dependent on loan sharks or traffickers or even MFIs. I want them to learn about how to best run their businesses in their own countries and locales - whether it's learning more about forming a cooperative, or learning about the benefits of preventative medicine, or how to create personal or business budgets.
Mar 7, 2015, 3:13 pm
#1197
Join Date: Mar 2014
Posts: 15
http://www.kiva.org/lend/851159
I just found this thread and saw the Lending Team supported Lucy. A huge thank you to those who helped. I provide counsel to One Degree Solar (you can see their profile here http://www.kiva.org/partners/276) and Lucy is hopefully one of the success stories. ODS has helped changed the small enterprise sector in Kenya by providing low cost solar system to businesses and home.
Keep up the great work
I just found this thread and saw the Lending Team supported Lucy. A huge thank you to those who helped. I provide counsel to One Degree Solar (you can see their profile here http://www.kiva.org/partners/276) and Lucy is hopefully one of the success stories. ODS has helped changed the small enterprise sector in Kenya by providing low cost solar system to businesses and home.
Keep up the great work
Mar 10, 2015, 9:52 pm
#1198
Join Date: Mar 2011
Programs: AA, UA, DL, AS, LH, BA, VS, HHonors, Hyatt, Club Carlson, IHG, Marriott
Posts: 833
Well, if you don't know about Kiva Zip, then you probably don't know how to use Kiva's loan search function.
Go to the Kiva lend page.
the scroll down the left column and click on the words "advanced options"
keep scrolling down until you see "average cost to borrowers"
Set the green bar below at whatever % you think is fair, then look at the loans offered.
I didn't read the article you posted, but I have seen many articles like it and they all seem to ignore what it is really like to make loans in poor rural areas of countries that have little modern infrastructure. When I have read the stories of what it is actually like to operate a lending organization/institution, I am amazed that interest rates are as low as they are. It requires a lot of dedication, risk and determination to operate in many of those places. Ever thought of making loans in a country/region wracked by civil war? How about loaning to someone who lives a full day of travel (by foot, bicycle or moped) from any lending office? Well, some Kiva field partners do it.
But my basic point is if you are uncomfortable with loans that have a high interest rate, then Kiva Zip has made 8000 no interest loans. And I am sure that there are other alternatives as well.
Anyway, my basic point is
Go to the Kiva lend page.
the scroll down the left column and click on the words "advanced options"
keep scrolling down until you see "average cost to borrowers"
Set the green bar below at whatever % you think is fair, then look at the loans offered.
I didn't read the article you posted, but I have seen many articles like it and they all seem to ignore what it is really like to make loans in poor rural areas of countries that have little modern infrastructure. When I have read the stories of what it is actually like to operate a lending organization/institution, I am amazed that interest rates are as low as they are. It requires a lot of dedication, risk and determination to operate in many of those places. Ever thought of making loans in a country/region wracked by civil war? How about loaning to someone who lives a full day of travel (by foot, bicycle or moped) from any lending office? Well, some Kiva field partners do it.
But my basic point is if you are uncomfortable with loans that have a high interest rate, then Kiva Zip has made 8000 no interest loans. And I am sure that there are other alternatives as well.
Anyway, my basic point is
I'm not completely against the idea though. It just gave me a pause and made me think whether I was indeed helping or making things worse. I have read stories about poor people in India committing suicide because they cannot pay these high interest loans.
Anyway, can anyone give me any pointers or advice on how to avoid selecting loans that might default?
Mar 11, 2015, 6:31 am
#1199
Join Date: Mar 2010
Location: mountains of western NC
Programs: Life, Love and Laughter
Posts: 8,533
I was able to search for interest-free loans and navigate better through their site but the point of the article is that those so-called interest-free loans are not really free as Kiva claims. I also find it a bit hard to believe that they offer them free loans. Remember there are no free lunches.
I'm not completely against the idea though. It just gave me a pause and made me think whether I was indeed helping or making things worse. I have read stories about poor people in India committing suicide because they cannot pay these high interest loans.
Anyway, can anyone give me any pointers or advice on how to avoid selecting loans that might default?
I'm not completely against the idea though. It just gave me a pause and made me think whether I was indeed helping or making things worse. I have read stories about poor people in India committing suicide because they cannot pay these high interest loans.
Anyway, can anyone give me any pointers or advice on how to avoid selecting loans that might default?
I am sure you will find a way to call me a liar as well, but I will say that I have communicated with many KivaZip lenders who have confirmed that their loans are interest free.
Apr 24, 2015, 8:34 pm
#1200
Senior Moderator and Moderator: American AAdvantage & TravelBuzz
Join Date: Nov 2007
Location: BOS
Programs: AA EXP, Marriott Titanium
Posts: 10,413
As of today (24 April 2015), we're at:
508 Team Members
$1,298,250 Amount Loaned
24,725 Loans
Just a little more, and we'll have hit 25K loans! :-:
