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!
Mar 31, 2011, 6:10 am
#601
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
When you say 'this area', do you mean this thread, or the Community forum?
To improve visibility of the thread, probably the best way is to add a link to your signature - as Mwenenzi has done. I was aware of kiva from my time on TB - but finally joined it as a result of continually seeing it in JDiver's signature!
To improve visibility of the thread, probably the best way is to add a link to your signature - as Mwenenzi has done. I was aware of kiva from my time on TB - but finally joined it as a result of continually seeing it in JDiver's signature!
Apr 3, 2011, 8:39 pm
#605
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
I just relent $75 - and with forumpersona999's awesome 100 loans, we are now up to
230 members, $109,075 in 3,485 loans (and nearing $110,000!)
Great to see our Community Director involved with this project too! ^
230 members, $109,075 in 3,485 loans (and nearing $110,000!)
Great to see our Community Director involved with this project too! ^
Apr 5, 2011, 7:50 am
#607
In Memoriam, FlyerTalk Evangelist
Join Date: Nov 2002
Location: Southern California
Programs: DL: 3.8 MM, Marriott: Lifetime Titanium
Posts: 24,575
Mine is 0% although I see that the average Kiva user experiences a 1.35% default rate.
I've got a lot of loans outstanding and I've been doing this for years so I guess I've been lucky.
The only reason I'm even slightly concerned about the default rate is that it means I would have that much less to re-loan.
Apr 22, 2011, 3:25 pm
#608
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
I like the new initiative for green loans. I've always tried to think about environmental consequences of my loans (I won't loan for taxi companies for example), nice to have that made easier.
Apr 22, 2011, 8:55 pm
#609
Moderator, Hilton Honors
Join Date: Nov 2003
Location: on a short leash
Programs: some
Posts: 71,419
Apr 23, 2011, 12:43 am
#610
Join Date: Feb 2009
Location: DEN
Programs: Hyatt Globalist, Bonvoy Titanium, CX DM, SQ Gold
Posts: 1,607
Makes me worry that maybe they have a way to massage the data and the real default rate is way over 1%.
If I have a 1% default rate and the defaults are legit, I still feel warm and fuzzy about it all.
If it were more like 3% I would get concerned.
But to date what concerned me more is "Are the field partners really verifying that the loans are used for the stated purpose" and
"Are the field partners fair or are they driving people to suicide."
In India there have been instances where micro-lenders charged way over 20% interest and lent to people who already owed money elsewhere, driving them to suicide.
There was no actual connection to kiva.org - So far there have been no reports of kiva.org working with field partners who are unethical.
Apr 23, 2011, 6:53 am
#611
In Memoriam, FlyerTalk Evangelist
Join Date: Nov 2002
Location: Southern California
Programs: DL: 3.8 MM, Marriott: Lifetime Titanium
Posts: 24,575
Personally I wouldn't care if the default rate was 50%.
I look at this as charity and if I'm paid back, then great. That means I can re-loan to other folks.
But I'm not losing any sleep if default rates climb.
And I don't think they will. The folks who borrow from Kiva don't generally have anyplace else to go for a loan. So if they default to Kiva, they are out of luck for any future loans forever.
That's a pretty good incentive to pay back the loan IMO.
I look at this as charity and if I'm paid back, then great. That means I can re-loan to other folks.
But I'm not losing any sleep if default rates climb.
And I don't think they will. The folks who borrow from Kiva don't generally have anyplace else to go for a loan. So if they default to Kiva, they are out of luck for any future loans forever.
That's a pretty good incentive to pay back the loan IMO.
Apr 23, 2011, 8:40 am
#612
Community Director Emerita
Join Date: Oct 2000
Location: Anywhere warm
Posts: 33,737
Totally agree. I'm actually amazed by the high repayment rate. It amazes me and humbles me that a $25 loan can make a difference in someone's life. It is a pleasure to give, hoping that it allows a family to have a better life. The fact that the money has always been repaid is icing on the cake.
Apr 23, 2011, 5:59 pm
#613
Join Date: Feb 2009
Location: DEN
Programs: Hyatt Globalist, Bonvoy Titanium, CX DM, SQ Gold
Posts: 1,607
A higher default rate could mean that there are underlying issues such as fraud.
To me it wouldn't feel like charity anymore when for example a field partner is fraudulent or the entrepreneurs who are featured as needing the loan are clean-skins who are being put forward by someone else to get the loan and run.
So yes, kiva is a good thing, charitable and all but the default rate and the conduct of the field partners are things onemust should monitor.
To me it wouldn't feel like charity anymore when for example a field partner is fraudulent or the entrepreneurs who are featured as needing the loan are clean-skins who are being put forward by someone else to get the loan and run.
So yes, kiva is a good thing, charitable and all but the default rate and the conduct of the field partners are things one
Apr 23, 2011, 8:49 pm
#614
In Memoriam, FlyerTalk Evangelist
Join Date: Nov 2002
Location: Southern California
Programs: DL: 3.8 MM, Marriott: Lifetime Titanium
Posts: 24,575
I'll leave it up to Kiva to monitor their loans and their field partners.
I donate to a LOT of charities and I have never expected or received a penny back. Just makes me feel good to help some folks out.
Same thing with Kiva except we get back most of what we donate and then we re-loan it again and again.
Kiva is a win/win for me and I really don't feel the need to audit their financial activities.
I donate to a LOT of charities and I have never expected or received a penny back. Just makes me feel good to help some folks out.
Same thing with Kiva except we get back most of what we donate and then we re-loan it again and again.
Kiva is a win/win for me and I really don't feel the need to audit their financial activities.
Apr 24, 2011, 1:47 am
#615
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
Some good comments here - I agree an occasional default is not dissuading me from lending (I have had 3 or 4 out of over $7,000 lent over my involvement with Kiva, iirc). At least two of these were because of risky partners (I knew they were risky, but the issue was "high risk, high return" - Kenya and Ecuador). Both of these were NGOs who seemingly got greedy and "playful" with the new infusions of money via Kiva et al, and they did not pass on the money to be lent or skimmed. Kiva tried to intervene and help, then put barriers on them and from what I understand took what measures they could to recover the money - but developing nations do not have the protections developed nations do in terms of controlling NGO activities, and have a higher propensity for nepotism, corrupt practices, etc.
When we think "microcredit institutions", there are many Kiva does not support, and many that are profit-making institutions - once the market became apparent, it drew more profit-driven entities to the market. Some are fine, others have practices that are usurious and persecutory, drawing in people who are unlikely to be able to pay or get them to borrow regularly for everyday necessities (fertilizer, seed, etc.) until the weather fails - then they can't pay, as their crop fails, and the company lowers the boom - that accounts for some of the suicides we read about in India, for example.
In my opinion, Kiva offers a really well-monitored way to assure the maximum security of our loans and the integrity of the NGOs on the ground they work with. Not 100% certain, but what in life is?
As Cholula kind of says, I am humbled to know what a difference $25 can make and to have the opportunity to affect others prosperity and growth - and I have seen how this works on the ground in places as diverse as Cambodia, Tanzania, etc. - now much amplified with Kiva.
As for forumpersona999, I recommend reading through this thread, including the information posted by "pour own" member and Kiva fellow in Cambodia (she has been there for 6 months or more, three of those as a Fellow), and read her reports on Kiva. She was in the offices and in the field with those at the receiving end. Her information might help alleviate some of your concerns.
When we think "microcredit institutions", there are many Kiva does not support, and many that are profit-making institutions - once the market became apparent, it drew more profit-driven entities to the market. Some are fine, others have practices that are usurious and persecutory, drawing in people who are unlikely to be able to pay or get them to borrow regularly for everyday necessities (fertilizer, seed, etc.) until the weather fails - then they can't pay, as their crop fails, and the company lowers the boom - that accounts for some of the suicides we read about in India, for example.
In my opinion, Kiva offers a really well-monitored way to assure the maximum security of our loans and the integrity of the NGOs on the ground they work with. Not 100% certain, but what in life is?
As Cholula kind of says, I am humbled to know what a difference $25 can make and to have the opportunity to affect others prosperity and growth - and I have seen how this works on the ground in places as diverse as Cambodia, Tanzania, etc. - now much amplified with Kiva.
As for forumpersona999, I recommend reading through this thread, including the information posted by "pour own" member and Kiva fellow in Cambodia (she has been there for 6 months or more, three of those as a Fellow), and read her reports on Kiva. She was in the offices and in the field with those at the receiving end. Her information might help alleviate some of your concerns.