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FlyerTalker Lending Team on Kiva.org!

FlyerTalker Lending Team on Kiva.org!

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Old May 16, 16, 12:51 am   -   Wikipost
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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.

"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.)
Since June 2008, a FlyerTalker Lending Team has formed on Kiva.org; there were ten of us with 55 loans worth $1,375.00 as of Feb 27, 2009. But...

As of 15 May 2016 it's 607 FlyerTalk lending team who have lent $2,209,175 in 37,092 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
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Old Apr 22, 10, 4:25 pm
  #241  
 
Join Date: Nov 2009
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Originally Posted by giblet View Post
I have some very exciting news! Looks like FlyerTalk will have their very first Kiva Fellow.

I've been told that I will be (tentatively) placed in the East Asia & Pacific region for a minimum of 12 weeks, but don't have any more info than that yet. I can't tell you how excited (and nervous) I am!

p.s. We are at $29,400, almost to $30k!

Congratulation
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Old Apr 23, 10, 2:03 am
  #242  
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Originally Posted by giblet View Post
I have some very exciting news! Looks like FlyerTalk will have their very first Kiva Fellow.

I've been told that I will be (tentatively) placed in the East Asia & Pacific region for a minimum of 12 weeks, but don't have any more info than that yet. I can't tell you how excited (and nervous) I am!
Congratulations
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Old Apr 23, 10, 6:10 am
  #243  
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giblet, congratulations are indeed in order! Fantastic news!

We are up to

123 members
971 loans
$29,600 lent


OK, fellow FTers, let's put this over 125 lenders / 1,000 loans / $30,000!

FlyerTalkers paying it back... I'll be sure to put a bug in Randy's ear tomorrow when I see him!
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Old Apr 23, 10, 7:06 am
  #244  
 
Join Date: Aug 2009
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I'm in.
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Old Apr 23, 10, 9:43 am
  #245  
 
Join Date: Dec 2001
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Originally Posted by giblet View Post
I have some very exciting news! Looks like FlyerTalk will have their very first Kiva Fellow.

I've been told that I will be (tentatively) placed in the East Asia & Pacific region for a minimum of 12 weeks, but don't have any more info than that yet. I can't tell you how excited (and nervous) I am!

p.s. We are at $29,400, almost to $30k!
Technically I beat you (KF8 in Manila), but congratulations!

Feel free to PM me if you have any questions.
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Old Apr 23, 10, 9:48 am
  #246  
 
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Awesome! I have lots of questions, actually, so will PM you.

And the Philippines is my top choice.
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Old Apr 23, 10, 11:33 am
  #247  
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Originally Posted by giblet View Post

And the Philippines is my top choice.
Do they need a rep in Monte Carlo?
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Old Apr 23, 10, 12:37 pm
  #248  
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Originally Posted by giblet View Post
I have some very exciting news! Looks like FlyerTalk will have their very first Kiva Fellow.

I've been told that I will be (tentatively) placed in the East Asia & Pacific region for a minimum of 12 weeks, but don't have any more info than that yet. I can't tell you how excited (and nervous) I am!

p.s. We are at $29,400, almost to $30k!
Congratulations
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Old Apr 24, 10, 3:49 am
  #249  
 
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Originally Posted by giblet View Post
I have some very exciting news! Looks like FlyerTalk will have their very first Kiva Fellow.

I've been told that I will be (tentatively) placed in the East Asia & Pacific region for a minimum of 12 weeks, but don't have any more info than that yet. I can't tell you how excited (and nervous) I am!

p.s. We are at $29,400, almost to $30k!
Congratulations! What a great thing to do. Please keep us updated. Is there a thing on Kiva that you can follow reports from specific fellows?
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Old Apr 24, 10, 5:30 am
  #250  
 
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Merrick - have you written about your experience anywhere? Seems like an interesting program (if I could take sabbatical).
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Old Apr 26, 10, 4:47 pm
  #251  
 
Join Date: Jul 2004
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I just stumbled upon this thread and found it to be very interesting. I am still trying to go through so many posts. Can someone explain to me the risk factor. What are the chances that you will lose money. What if the lender defaults? How are you paid back such bad loans?
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Old Apr 26, 10, 5:22 pm
  #252  
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Originally Posted by maulah View Post
Can someone explain to me the risk factor. What are the chances that you will lose money. What if the lender defaults? How are you paid back such bad loans?
I've been very pleasantly surprised at how many of my loans have been repaid. Honestly, I went into this feeling (and do to this day) that whatever money I put in I'll never withdraw. $25 only means skipping a couple lunches, something I likely should do anyway. It's such a trivial amount of money that I am happy to risk it in hopes that it will make a difference in someone else's life. But because I have had a very high rate of repayment, I've had a lot of fun chosing another and then another project to fund.
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Old Apr 26, 10, 6:03 pm
  #253  
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Originally Posted by maulah View Post
I just stumbled upon this thread and found it to be very interesting. I am still trying to go through so many posts. Can someone explain to me the risk factor. What are the chances that you will lose money. What if the lender defaults? How are you paid back such bad loans?
If the lender defaults or (as seems to be more common) the local partner has difficulties you may not get your $25 back.

It hasn't happened to too many people here, but it can happen. You can lessen your risk by using 4 and 5 star partners and if lending more than once, making sure you lend in a number of different countries.
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Old Apr 27, 10, 5:30 am
  #254  
 
Join Date: Dec 2001
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Originally Posted by Jenbel View Post
If the lender defaults or (as seems to be more common) the local partner has difficulties you may not get your $25 back.

It hasn't happened to too many people here, but it can happen. You can lessen your risk by using 4 and 5 star partners and if lending more than once, making sure you lend in a number of different countries.
The overall repayment rates to Kiva lenders is 98.57%. Many (most?) Kiva partners guarantee (officially or unofficially) Kiva loans. If the partner is officially guaranteeing the loan, you'll see "Default Protection: Covered" in the loan profile. Even if the loan is listed as "not covered", many partners will cover defaults to keep their posted repayment rates high. Most defaults tend to be where the partner has problems (such as fraud), though Kiva staff, fellows, and external auditors conduct "borrower verification" and other audits of partners to identify any issues.
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Old Apr 27, 10, 5:34 am
  #255  
 
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Originally Posted by lili View Post
Congratulations! What a great thing to do. Please keep us updated. Is there a thing on Kiva that you can follow reports from specific fellows?
Kiva Fellows normally post a blog entry every two weeks (I was pretty bad at doing it, however). You can read entries (including accounts of what it's like to be a fellow) on The Kiva Fellows Blog.
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