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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
Please read: This is a community-maintained wiki post containing the most important information from this thread. You may edit the Wiki once you have been on FT for 90 days and have made 90 posts.
 
Last edit by: JDiver
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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 28, 10, 3:17 am
  #256  
FlyerTalk Evangelist
 
Join Date: Apr 2001
Location: MEL CHC
Posts: 13,305
Statistic Name FlyerTalkers
Number of Team Members 126
Number of Loans 987
Number of Loans per Member 7.8
Total Amount Loaned $30,025

FT Team on Kiva. FT loans here including some still raising funds

Subscribe to this thread using thread tools (top of the page). Or just click here: Subscribe to FlyerTalker Lending Team on Kiva.org

Last edited by Mwenenzi; Apr 28, 10 at 3:27 am
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Old Apr 30, 10, 2:30 pm
  #257  
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Can we reach 1000 loans before the FT anniversary (5 May)?
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Old Apr 30, 10, 2:38 pm
  #258  
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Hope so - and there are a number of loans due to expire in 10 hours...
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Old May 1, 10, 8:35 am
  #259  
 
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Woo hoo!

I've just made the 1'000th loan for the team! Go FlyerTalk!


Number of Team Members 128
Number of Loans 1000
Number of Loans per Member 7.8
Total Amount Loaned $30,675


Cheers,

GenevaFlyer
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Old May 1, 10, 2:18 pm
  #260  
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Originally Posted by Kiwi Flyer View Post
Can we reach 1000 loans before the FT anniversary (5 May)?
Yes, certainly you can. You have try to get 3000 loans.
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Old May 1, 10, 6:56 pm
  #261  
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N830MH, you are right, of course. In the meantime, I think it's terrific our team has made 1'000 loans, exceeding $30,000!
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Old May 1, 10, 9:29 pm
  #262  
 
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Originally Posted by JDiver View Post
I think it's terrific our team has made 1'000 loans, exceeding $30,000!
+1

Yay team!
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Old May 2, 10, 7:20 am
  #263  
 
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Hi N830MH,

Originally Posted by N830MH View Post
Yes, certainly you can. You have try to get 3000 loans.
Out of curiosity, are you helping us reach the next goal?

Cheers,

GenevaFlyer
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Old May 2, 10, 4:07 pm
  #264  
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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?
It doesn't happen too often but there is always the chance that you will get stuck. I have made only one loan ($100) and if I don't get a cent of it back I figure I will be out the cost of a single dinner with my girlfriend in Milan.

Of course, you can reduce the risk by making smaller loans. If I had made 4 loans at $25 each I would have spread out the risk and, in the worst case, loss less than the price of a carton of cigarettes.
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Old May 2, 10, 7:17 pm
  #265  
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Originally Posted by maulah View Post
What are the chances that you will lose money. What if the lender defaults? How are you paid back such bad loans?
I've made several dozens of small loans over the years and have been paid back every cent.

And the truth of the matter is that I don't really care if I get all my money back. As with most donations, it's usually a one-way street. Money goes one direction and hardly ever returns. And that's cool.

As I get money back from my Kiva donations, I re-lend it quickly.

Last edited by Cholula; May 2, 10 at 7:57 pm Reason: typo
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Old May 2, 10, 7:35 pm
  #266  
 
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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?
To add to the other comments, after 50 loans, I've lost $0.84 on currency exchange losses. For the rest, all my loans are being paid back. I had one loan where the country partner had issues, which was repaid late, but it was repaid.

You can choose to limit your risk by selecting your loans:

- Some field partners cover currency exchange losses
- Some field partners offer default protection
- Check out the stats for the field partners, and select a 4-5 star partner


Cheers,

GenevaFlyer
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Old May 2, 10, 9:33 pm
  #267  
 
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I don't know if I've lost anything on currency fluctuations. I actually don't care if I have - I'm not in this as a profit making venture. Anything repaid is quickly re-loaned anyway. I have no intention of ever recovering the principle I've put up for this.

Like GenevaFlyer I have 1 loan with country partner issues. The loan is being repaid, albeit incredibly slowly. Anyway, it's not like I care about the $25. I am greatly more concerned about the group of ladies who were (theoretically) the recipients of this loan. I wish I could find out how they're doing.
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Old May 3, 10, 4:44 am
  #268  
 
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Hi RCyyz,

Originally Posted by RCyyz View Post
... I am greatly more concerned about the group of ladies who were (theoretically) the recipients of this loan. I wish I could find out how they're doing.
Did you check on the loan repayment details (click on "Show Advanced")? This will show you whether your group has been repaying to the field partner or not. In my case, I could see that my borrower had repaid her loan in full to the field partner, it's just the field partner who is/was having a spell of bad loans.

And like you, I don't indeed care if I lose the occasional bit, and just keep relending the funds I have in there.

Cheers,

GenevaFlyer
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Old May 6, 10, 7:50 am
  #269  
 
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Originally Posted by RCyyz View Post
I don't know if I've lost anything on currency fluctuations. I actually don't care if I have - I'm not in this as a profit making venture. Anything repaid is quickly re-loaned anyway. I have no intention of ever recovering the principle I've put up for this.

Like GenevaFlyer I have 1 loan with country partner issues. The loan is being repaid, albeit incredibly slowly. Anyway, it's not like I care about the $25. I am greatly more concerned about the group of ladies who were (theoretically) the recipients of this loan. I wish I could find out how they're doing.
Why not try and plan a MR to theire country and pay a surprise visit

I have done a lot of my loans to Ukraine Azer Leb and the Central Southern Americas...MR and an extended counrty stay might be sort of interesting.
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Old May 6, 10, 7:56 am
  #270  
 
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FFcc and Paypal chrun

Of the people cycling money with FFcc's to Paypal then to your bank, what is the average amount you are doing on a cycle. It seems to me if you are churning a $1000 to 2000 a month you could easily end up with some type of reward ticket a year.

I am stll mid way thru my inital cycle of 100$ to see the timing so as not to have a large amount hanging on the CC to draw a finance charge.

Any other crafty ideas welcomed

Thanks Angust.
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