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 18, 2009, 4:28 pm
#166
Join Date: Jul 2003
Location: New York, NY USA
Posts: 284
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 19, 2009, 9:17 am
#167
Join Date: Oct 2003
Location: EDI
Programs: BA Silver / Bonyoy Platinum
Posts: 1,919
Maybe Kiva could show what the management cost is and give us the option to pay part of it as a donation if we want to help the borrower further?
Nov 19, 2009, 10:06 pm
#168
Join Date: Dec 2004
Location: SFO/OAK
Programs: *Alliance
Posts: 289
Star Mega Do contribution ?!?
I was on the Star Mega Do and was pleased that Kiva was going to be a recipient of a contribution from our event. But it was recently announced that of the $5000+ raised only $500 was going to Kiva because of "controversy". Does anyone know what went on here? Am -very- annoyed that nmy group was one of three to be funded but way down on the amount portion. Would like to understand want happened. Who did the organizers talk to? What was the "controversy"
- a very disappointed Star Mega Do participant -
- a very disappointed Star Mega Do participant -
Nov 20, 2009, 12:21 am
#169
Join Date: Apr 2007
Location: AMS
Programs: A number, but no status no more
Posts: 3,049
Hi Bonnerbl,
The controversy is linked to a few recent articles about KIVA (in the Chicago Tribune for starters IIRC) about the way KIVA works.
If you look at the loans, you do not actually fund the loan you select. The field partner has already lent this borrower the money, you provide capital to the field partner to fund further loans. As such, there is a "deception" (although documented on the KIVA website) that you are directly helping a specific borrower.
For example, here is one of my loans:
The loan was given to the borrower on Sept 9, while it was listed on KIVA two days later.
Also, in the advanced repayment section for this same loan:
You can see that the borrower is repaying much earlier to the field partner than the field partner to the lenders.
(I have a case in Ghana where the borrower is repaying the field partner, but, due to problems, the field partner is not repaying the lenders).
Many lenders believed that they were really lending directly to a specific person, thus the controversy.
Cheers,
GenevaFlyer
I was on the Star Mega Do and was pleased that Kiva was going to be a recipient of a contribution from our event. But it was recently announced that of the $5000+ raised only $500 was going to Kiva because of "controversy". Does anyone know what went on here? Am -very- annoyed that nmy group was one of three to be funded but way down on the amount portion. Would like to understand want happened. Who did the organizers talk to? What was the "controversy"
- a very disappointed Star Mega Do participant -
- a very disappointed Star Mega Do participant -
If you look at the loans, you do not actually fund the loan you select. The field partner has already lent this borrower the money, you provide capital to the field partner to fund further loans. As such, there is a "deception" (although documented on the KIVA website) that you are directly helping a specific borrower.
For example, here is one of my loans:
The loan was given to the borrower on Sept 9, while it was listed on KIVA two days later.
Also, in the advanced repayment section for this same loan:
You can see that the borrower is repaying much earlier to the field partner than the field partner to the lenders.
(I have a case in Ghana where the borrower is repaying the field partner, but, due to problems, the field partner is not repaying the lenders).
Many lenders believed that they were really lending directly to a specific person, thus the controversy.
Cheers,
GenevaFlyer
Nov 20, 2009, 4:04 am
#170
Join Date: Dec 2004
Location: SFO/OAK
Programs: *Alliance
Posts: 289
Sorry and with all due respect I disagree. Using the word deception is extremely harmful and way off the scale IMHO. Look at the homepage of KIVA -- prominent link -- Learn how Kiva works -- click on it -- next page very clearly says that many funds are used to backfill loans already made. So I might put the onus on you, not on Kiva. Did you read this section? Your choice to not fully understand or read something clearly stated does not constitute deception on their part. It is a prominent link in clear language in readable font.
The withholding of Star Mega Do funds was shameful.
The withholding of Star Mega Do funds was shameful.
Nov 20, 2009, 4:23 am
#171
Join Date: Apr 2007
Location: AMS
Programs: A number, but no status no more
Posts: 3,049
Hi Bonnerbl,
Note: I put quotation marks around deception on purpose. Yes, indeed, KIVA does explain the process. However, many people do not bother reading this information (nor do they read T&Cs before buying an airplane ticket).
I'm just relating the cause of the controversy which impacted KIVA, not defending it in any way.
Cheers,
GenevaFlyer
Note: I put quotation marks around deception on purpose. Yes, indeed, KIVA does explain the process. However, many people do not bother reading this information (nor do they read T&Cs before buying an airplane ticket).
I'm just relating the cause of the controversy which impacted KIVA, not defending it in any way.
Cheers,
GenevaFlyer
Nov 20, 2009, 6:02 am
#172
Join Date: Oct 2005
Location: CGK
Programs: LH SEN (LH*G), HH Diamond, AB Gold (1W Saph)
Posts: 5,677
That's a bit harsh, and as a fellow Mega Do participant, I respectfully disagree. I think using pooled funds on Kiva is a bad idea, firstly because continous updating and re-lending is required on a regular basis, and secondly because the capital base erodes away with each loan (due to the donation to Kiva itself to cover operating costs) and would need to be replenished in the future.
Personally, I think it would have been a much better idea just to donate the money (if you insist, to Kiva's operating expenses fund) and be done with it (which is what they seem to be doing with most of it, and I fully approve).
Personally, I think it would have been a much better idea just to donate the money (if you insist, to Kiva's operating expenses fund) and be done with it (which is what they seem to be doing with most of it, and I fully approve).
Nov 20, 2009, 9:51 am
#173
Join Date: Dec 2004
Location: Sacramento
Posts: 7,323
Folks,
What was said on the raffle was that Kiva would be one of the charities that would receive money from the proceeds and the raffle.
There will be made a 500USD investment on behalf of the Star Mega DO participants who contributed.
The reason I suggested to contribute to Kiva in the first place, was because we could actually track the investment and see how the money got spent, I love the idea.
I have not said deception at all, I just don't feel comfortable with the discoveries made in the press and even if it's not a deception, they haven't been upfront on how things actually work with the Kiva investments and I don't like that.. That's why we made a decision to reduce the investment.
I'm not doubting that the money will do good at Kiva, but after talking with Lufthansa and their charity, they proposed to make a special project just for us and the ideas that have been presented sound very exciting. We will be able to follow the project in detail and we are 100% confident that the money is going to our project only.
I'll have more info about this next week!
What was said on the raffle was that Kiva would be one of the charities that would receive money from the proceeds and the raffle.
There will be made a 500USD investment on behalf of the Star Mega DO participants who contributed.
The reason I suggested to contribute to Kiva in the first place, was because we could actually track the investment and see how the money got spent, I love the idea.
I have not said deception at all, I just don't feel comfortable with the discoveries made in the press and even if it's not a deception, they haven't been upfront on how things actually work with the Kiva investments and I don't like that.. That's why we made a decision to reduce the investment.
I'm not doubting that the money will do good at Kiva, but after talking with Lufthansa and their charity, they proposed to make a special project just for us and the ideas that have been presented sound very exciting. We will be able to follow the project in detail and we are 100% confident that the money is going to our project only.
I'll have more info about this next week!
Nov 20, 2009, 9:54 am
#174
Join Date: Dec 2004
Location: Sacramento
Posts: 7,323
I respect your opinion, but it has not been mentioned anything about this in the thread. You are the only one who has reacted negative via PM to our decision. We have on the other hand received many positive PMs and e-mails about deciding to give more money to HelpAlliance
Nov 20, 2009, 11:40 am
#175
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
I believe that I'm the guy who originally posted on the MegaDo thread that we should consider donating some proceeds to Kiva. I was extremely pleased to learn of the raffle on board our wonderful Condor and I'm pretty satisfied with the amount raised.
As for the $500 allocation to Kiva, I agree that more is better but let's also keep in mind that most loans are in the $25 range. So our $500 will have a positive impact on 20 people. That's not bad.
Would $5000 be better? Sure. But the recently unveiled lack of direct connection between donor (us) and loan requestor is certainly disappointing, if somewhat understandable from a logistics perspective. And the high cost of adminsitration (interest) is similarly disappointing, if also somewhat understandable.
In the end, Kiva is still a *very* worthy cause and I'm please to be involved. That Kiva is not all we perhaps thought it to be initially is reason for consideration but not necessarily cause for concern. And let's be completely aware that the money that may have gone to Kiva went instead to an equally worthy cause. If Tommy et al had taken the funds and frittered them away on champagne, I would be first in line to support the "shameful" characterization. But the funds all went to very good use and for that we should thank everyone who participated in the MegaDo and made these donations possible.
As for the $500 allocation to Kiva, I agree that more is better but let's also keep in mind that most loans are in the $25 range. So our $500 will have a positive impact on 20 people. That's not bad.
Would $5000 be better? Sure. But the recently unveiled lack of direct connection between donor (us) and loan requestor is certainly disappointing, if somewhat understandable from a logistics perspective. And the high cost of adminsitration (interest) is similarly disappointing, if also somewhat understandable.
In the end, Kiva is still a *very* worthy cause and I'm please to be involved. That Kiva is not all we perhaps thought it to be initially is reason for consideration but not necessarily cause for concern. And let's be completely aware that the money that may have gone to Kiva went instead to an equally worthy cause. If Tommy et al had taken the funds and frittered them away on champagne, I would be first in line to support the "shameful" characterization. But the funds all went to very good use and for that we should thank everyone who participated in the MegaDo and made these donations possible.
Nov 20, 2009, 11:54 am
#176
A FlyerTalk Posting Legend
Join Date: Oct 2002
Location: back to my roots in Scotland!
Programs: Tamsin - what else is there to say?
Posts: 47,843
It's a bit difficult this because we seem to be at the nexus of two issues, both of which are legitimate Communitybuzz! threads. However, this thread was started with a particular purpose. As such, I'd say discussion of Kiva activities is on topic. I'm going to rule that now the question about the concerns the MegaDo organisers had about Kiva have been asked and answered, that any further discussion about MegaDo and charities it is generously contributing to be restricted to the MegaDo thread, leaving this thread for the Flyertalk Lending Team on Kiva.
Thanks for your consideration in this - as always, if you have questions or comments, then please do drop me a PM.
Jenbel
Co-moderator, Communitybuzz!
Thanks for your consideration in this - as always, if you have questions or comments, then please do drop me a PM.
Jenbel
Co-moderator, Communitybuzz!
Dec 1, 2009, 2:16 am
#177
Join Date: Jul 2003
Location: New York, NY USA
Posts: 284
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?
http://www.kiva.org/app.php?page=bus...tBy=New+to+Old
There are also loans in Iraq, but those carry a caveat about the additional risks of getting repayments out of the country at the moment.
http://www.kiva.org/app.php?page=bus...tBy=New+to+Old
Dec 4, 2009, 5:56 pm
#178
FlyerTalk Evangelist
Join Date: Apr 2008
Location: ORD
Programs: PWP Postmaster General, :rolleyes: Sapphire, UA GS, and Marriott Plat
Posts: 10,665
From the Kiva website:
Why are microcredit interest rates so high?
It's unfortunate, but not avoidable.
Why are microcredit interest rates so high?
It's unfortunate, but not avoidable.
The most common microfinance vehicle in the Philippines is 5-6 lending which charges a 20% interest rate compounded monthly (or even weekly.) I am more concerned with Kiva loans to American businesses, but that is another topic for another day...
Dec 15, 2009, 11:51 pm
#179
Moderator, Hilton Honors
Join Date: Nov 2003
Location: on a short leash
Programs: some
Posts: 71,422
Repayments are in, time to relend.
Statistic Name FlyerTalkers
Number of Team Members 101
Number of Loans 529
Number of Loans per Member 5.24
Total Amount Loaned $16,725
Statistic Name FlyerTalkers
Number of Team Members 101
Number of Loans 529
Number of Loans per Member 5.24
Total Amount Loaned $16,725
Dec 25, 2009, 10:11 pm
#180
Moderator: American AAdvantage
Original Poster
Join Date: May 2000
Location: NorCal - SMF area
Programs: AA LT Plat; HH LT Diamond, Maître-plongeur des Muccis
Posts: 62,948
Maybe it's the season, but... it's now $18,575.00
Impact of FlyerTalkers
Not bad at all, fellow FlyerTalkers! We can be proud of this one, and maybe, just maybe, we can hit twenty big ones by 2010? See the loans / people lent to here. Regardless of the specifics we are providing microloans to people with little other recource, lending a hand to people so they can lift themselves. Can't be anything wrong with that!
- Statistic Name FlyerTalkers
- Number of Team Members 101
- Number of Loans 587
- Number of Loans per Member 5.81
- Total Amount Loaned $18,575.00
Not bad at all, fellow FlyerTalkers! We can be proud of this one, and maybe, just maybe, we can hit twenty big ones by 2010? See the loans / people lent to here. Regardless of the specifics we are providing microloans to people with little other recource, lending a hand to people so they can lift themselves. Can't be anything wrong with that!
Last edited by JDiver; Dec 25, 2009 at 10:16 pm