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!
Nov 17, 2009, 1:25 am
#151
FlyerTalk Evangelist
Join Date: Apr 2001
Location: MEL CHC
Posts: 21,092
Number of Team Members 97
Number of Loans 487
Number of Loans per Member 5.02
Total Amount Loaned $15,025.00
3 loans since the post above
I have been watching over the last 10 days and wondering if we get to $15,000 or 100 members first
Edit: link to Team
http://www.kiva.org/team/flyertalkers
Number of Loans 487
Number of Loans per Member 5.02
Total Amount Loaned $15,025.00
3 loans since the post above
I have been watching over the last 10 days and wondering if we get to $15,000 or 100 members first
Edit: link to Team
http://www.kiva.org/team/flyertalkers
Last edited by Mwenenzi; Nov 17, 2009 at 6:30 pm Reason: added team link
Nov 17, 2009, 8:36 am
#153
Join Date: May 2005
Location: BRU
Programs: A3/Gold, BA/Gold + other less precious metals
Posts: 2,641
Happy to admit to being the 97th member :-)
Nov 17, 2009, 5:06 pm
#154
Join Date: Oct 2003
Location: EDI
Programs: BA Silver / Bonyoy Platinum
Posts: 1,921
Wow, never heard of this till now! What a great concept!
I have now taken the count to 99...who is going to be the hundredth! Don't be shy!
Statistic Name FlyerTalkers
Number of Team Members 99
Number of Loans 492
Number of Loans per Member 4.97
Total Amount Loaned $15,150.00
I have now taken the count to 99...who is going to be the hundredth! Don't be shy!
Statistic Name FlyerTalkers
Number of Team Members 99
Number of Loans 492
Number of Loans per Member 4.97
Total Amount Loaned $15,150.00
Nov 17, 2009, 9:59 pm
#155
Join Date: Dec 2007
Location: Body in Downtown YYZ, heart and mind elsewhere
Programs: UA 50K, refugee from AC E50K, Marriott Lifetime Plat
Posts: 5,132
Just had some loans repaid so I made another $25 loan.
Question: NATO troops are engaged, quite heavily at times, in Afghanistan. Without debating the merits of the military mission I do think the civilian situation over there can be rather desperate. Kiva doesn't seem to have any Afghans asking for loans though. (It's entirely possible that the Afghan situation is too unstable to allow for such things.)
Nonetheless, does anyone know of any (reputable) microfinance outfits currently operating in Afghanistan?
Question: NATO troops are engaged, quite heavily at times, in Afghanistan. Without debating the merits of the military mission I do think the civilian situation over there can be rather desperate. Kiva doesn't seem to have any Afghans asking for loans though. (It's entirely possible that the Afghan situation is too unstable to allow for such things.)
Nonetheless, does anyone know of any (reputable) microfinance outfits currently operating in Afghanistan?
Nov 18, 2009, 1:57 am
#157
Join Date: Oct 2005
Location: CGK
Programs: LH SEN (LH*G), HH Diamond, AB Gold (1W Saph)
Posts: 5,677
Just had some loans repaid so I made another $25 loan.
Question: NATO troops are engaged, quite heavily at times, in Afghanistan. Without debating the merits of the military mission I do think the civilian situation over there can be rather desperate. Kiva doesn't seem to have any Afghans asking for loans though. (It's entirely possible that the Afghan situation is too unstable to allow for such things.)
Nonetheless, does anyone know of any (reputable) microfinance outfits currently operating in Afghanistan?
Question: NATO troops are engaged, quite heavily at times, in Afghanistan. Without debating the merits of the military mission I do think the civilian situation over there can be rather desperate. Kiva doesn't seem to have any Afghans asking for loans though. (It's entirely possible that the Afghan situation is too unstable to allow for such things.)
Nonetheless, does anyone know of any (reputable) microfinance outfits currently operating in Afghanistan?
EDIT: This is their Afghan field partner:
http://www.kiva.org/about/aboutPartner?id=34
EDIT2: Turns out I also had $28 worth of Kiva credit lying around. Made another loan, to Uganda this time (5 loans, 5 countries - let's see how long I can keep that pattern going).
Last edited by alex0683de; Nov 18, 2009 at 2:07 am
Nov 18, 2009, 2:09 am
#158
Suspended
Join Date: Jan 2005
Posts: 1,229
I have done some research and found out that the actual recipients pay up to 23% interest rate.
Even if one takes all the administrative work in consideration, which should be mostly done voluntarily, some one is making a decent profit from this shop.
Also, looking at the faulty repayments, I guess its very easy to set up a micro-lending shop , cash in investments and then dissapear.
I am just waiting to see some documentation popup which will call it a scam.
Even if one takes all the administrative work in consideration, which should be mostly done voluntarily, some one is making a decent profit from this shop.
Also, looking at the faulty repayments, I guess its very easy to set up a micro-lending shop , cash in investments and then dissapear.
I am just waiting to see some documentation popup which will call it a scam.
Last edited by SwissCircle; Nov 18, 2009 at 3:33 am
Nov 18, 2009, 8:11 am
#159
Join Date: Dec 2007
Location: Body in Downtown YYZ, heart and mind elsewhere
Programs: UA 50K, refugee from AC E50K, Marriott Lifetime Plat
Posts: 5,132
Nov 18, 2009, 8:24 am
#160
Join Date: Apr 2007
Location: AMS
Programs: A number, but no status no more
Posts: 3,049
Hi RC,
KIVA clearly posts it on their FAQ:
You can find information about each partner as well. For example:
http://www.kiva.org/about/aboutPartner?id=109
(Note: partner picked at random, it just happened to be the first alphabetically.)
Cheers,
GenevaFlyer
KIVA clearly posts it on their FAQ:
Self-sustainability is critical to creating long-term solutions to poverty, and charging interest to entrepreneurs is necessary for microfinance institutions to achieve this. Our Field Partners are free to charge interest, but Kiva will not partner with an organization that charges exorbitant interest rates. We also require Field Partners to fully disclose their interest rates. You can find more information about the interest rates that Kiva's field partners charge on our Field Partner pages: http://www.kiva.org/about/partners .
Microfinance is an expensive business, which is essentially the reason small loans are not provided by large banks. While Kiva's Field Partners do not bear the cost of capital or the cost of default, they do bear transaction costs and some currency risk. Charging interest to entrepreneurs enables our Field Partners to bear these costs and achieve self-sustainability.
Microfinance is an expensive business, which is essentially the reason small loans are not provided by large banks. While Kiva's Field Partners do not bear the cost of capital or the cost of default, they do bear transaction costs and some currency risk. Charging interest to entrepreneurs enables our Field Partners to bear these costs and achieve self-sustainability.
http://www.kiva.org/about/aboutPartner?id=109
(Note: partner picked at random, it just happened to be the first alphabetically.)
Cheers,
GenevaFlyer
Nov 18, 2009, 8:27 am
#161
In memoriam
Join Date: Aug 2002
Programs: AA EXP "Life is good! Really good.""
Posts: 4,923
Why are microcredit interest rates so high?
It's unfortunate, but not avoidable.
Last edited by lili; Nov 18, 2009 at 8:29 am Reason: Duplicate of Geneva Flyer's post. But will leave this for the direct link.
Nov 18, 2009, 9:21 am
#162
Join Date: Mar 2005
Location: Boise and McCall Idaho
Programs: DL, UA, AA, Hawaiian, Alaska
Posts: 246
I joined the Flyertalk group on Kiva this morning and made my first loan. I have watched this thread for sometime and it seemed like a good time to join. Great work.
Nov 18, 2009, 10:03 am
#163
Join Date: Oct 2005
Location: CGK
Programs: LH SEN (LH*G), HH Diamond, AB Gold (1W Saph)
Posts: 5,677
Nov 18, 2009, 1:31 pm
#165
Join Date: Oct 2005
Location: CGK
Programs: LH SEN (LH*G), HH Diamond, AB Gold (1W Saph)
Posts: 5,677