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!
Jun 3, 2012, 8:07 am
#856
Join Date: Jan 2004
Location: Louisville, KY, USA
Posts: 2,583
Now I do not like the lending frenzy on the pay back day (the 15th) or reduced choices following. So I start lending using credit card funding via PayPal on the 1st. When pay backs occur I reimburse myself via a withdrawal for the early loans. Then I use the balance of my pay back to continue loaning through month end. I try to add several new money loans each month so that my total invested grows steadily.
Kiva has been having serious growing pains. I will not go into detail here. Those of you who also follow the Kiva discussions on MilePoint are likely well aware of them. For the rest ( actually all) of you, I suggest staying with smaller loans of 14 or fewer months from field partners with a 3 star or better rating. Smaller loans for me mean under $1,500 for an individual and under $4,500 for a group.
My delinquency rate continues to be acceptable but others have complained of a delinquency creep. Defaults remain low (1.05%) but there is a lag between a delinquency and a default so the default rate might (hopeflly not) grow a bit in the future.
We loan to help save the world. Don't let a few delinquencies or defaults even detour your good intentions. Keep on lending and add new money as often as you can.
Jun 4, 2012, 6:03 am
#857
A FlyerTalk Posting Legend
Join Date: Jun 2004
Location: Either at the shooting range or anywhere good beer can be found...
Posts: 51,042
Jun 5, 2012, 2:51 am
#858
Join Date: Feb 2007
Location: CBR
Programs: QF WP, AC*G
Posts: 1,223
I just received some funds from FlightFox so in they went to Kiva. Five more loans for the team.
One of them was Manuchar in Georgia who had a compelling loan request.
http://www.kiva.org/lend/421188
One of them was Manuchar in Georgia who had a compelling loan request.
http://www.kiva.org/lend/421188
Jun 7, 2012, 10:15 am
#859
Join Date: Nov 2010
Location: Brooklyn
Programs: AMEX Plat, AAdvantage Gold, UA, SPG Gold, HHonors Gold
Posts: 963
Quickly checked my loan status today, 27 delinquent from 318 loans @ $25 each...
A little high for my liking, though they have all paid something back so the percentage is probably under 5%.
Any experience with loans going into delinquency temporarily - as in they miss a payment or two but come good at the end?
A little high for my liking, though they have all paid something back so the percentage is probably under 5%.
Any experience with loans going into delinquency temporarily - as in they miss a payment or two but come good at the end?
Jun 7, 2012, 1:00 pm
#860
Join Date: Mar 2010
Location: mountains of western NC
Programs: Life, Love and Laughter
Posts: 8,537
Quickly checked my loan status today, 27 delinquent from 318 loans @ $25 each...
A little high for my liking, though they have all paid something back so the percentage is probably under 5%.
Any experience with loans going into delinquency temporarily - as in they miss a payment or two but come good at the end?
A little high for my liking, though they have all paid something back so the percentage is probably under 5%.
Any experience with loans going into delinquency temporarily - as in they miss a payment or two but come good at the end?
You can go to your portfolio then search through all of your loans and see how far behind each one is.
If you don't know how to do this, I can give you more detailed directions.
Jun 7, 2012, 1:21 pm
#861
Join Date: Apr 2008
Location: DAY
Programs: AA EXP, IHG Spire, National Exec Elite, Hilton Gold
Posts: 456
Quickly checked my loan status today, 27 delinquent from 318 loans @ $25 each...
A little high for my liking, though they have all paid something back so the percentage is probably under 5%.
Any experience with loans going into delinquency temporarily - as in they miss a payment or two but come good at the end?
A little high for my liking, though they have all paid something back so the percentage is probably under 5%.
Any experience with loans going into delinquency temporarily - as in they miss a payment or two but come good at the end?
Usually it seems that they don't make a full payment (e.g. 10 month, $250 loan with $25/mo payments... and only $15 is paid back one month) for a month or two but then they make it up and the loan ends up paid off in full on time.
Jun 7, 2012, 3:58 pm
#862
FlyerTalk Evangelist
Join Date: Apr 2001
Location: MEL CHC
Posts: 21,009
Are these through 1 field partner? It can be the field partner in the country that has problems, more the the people who have taken the loan. Spreading your money around several field partners reduces the risk. I have a delinquency rate of 4.77% and a default rate of 0.77%, most from 2 unscrupulous field partners. I consider Kiva as a donation and not a commercial loan.
Last edited by Mwenenzi; Jun 7, 2012 at 4:46 pm Reason: spelling
Jun 7, 2012, 4:41 pm
#863
Join Date: Mar 2010
Location: mountains of western NC
Programs: Life, Love and Laughter
Posts: 8,537
Are these through 1 field partner? It can be the field partner in the country that has problems, more the the people who have taken the loan. Spread you money around several field partners reduces the risk. I have a delinquency rate of 4.77% and a default rate of 0.77%, most from 2 unscrupulous field partners. I consider Kiva as a donation and not a commercial loan.
brooklynmatt says he has 318 loans, so I am sure that he is diversified, too.
Jun 8, 2012, 6:54 am
#864
Join Date: Nov 2010
Location: Brooklyn
Programs: AMEX Plat, AAdvantage Gold, UA, SPG Gold, HHonors Gold
Posts: 963
Its reassuring to see that there is that difference between delinquent and default.
I purposely donate in $25 loans (1 per person) so that my risk is spread - though this means I have more loans it also means if one turns bad after a couple of payments then I really don't lose very much.
I just checked the page again and the stats are interesting:
My Loan Statistics
Me Average Kiva User
Total Amount Lent $8,825.00 $268.92
Total Amount Repaid $3,768.82 $217.35
Total Amount Lost $0.00 $2.05
Total Amount Refunded and Expired $25.00 $3.92
Outstanding Portfolio $5,031.18 $45.40
Delinquency Rate 1.17% 2.87%
Amount In Arrears $58.94 $1.30
Outstanding Portfolio $5,031.18 $45.40
Number of Loans Delinquent 25 0.01
Default Rate 0.00% 1.05%
Currency Exchange Loss Rate 0.00% 0.00%
As you can see the rate is low (as they are calculating cash value late as a % of overall portfolio) this number would rapidly increase if all those 25 loans default, which was my concern (somewhat alleviated now thanks).
And yes, I am very well diversified based on gender, industry, location.
I purposely donate in $25 loans (1 per person) so that my risk is spread - though this means I have more loans it also means if one turns bad after a couple of payments then I really don't lose very much.
I just checked the page again and the stats are interesting:
My Loan Statistics
Me Average Kiva User
Total Amount Lent $8,825.00 $268.92
Total Amount Repaid $3,768.82 $217.35
Total Amount Lost $0.00 $2.05
Total Amount Refunded and Expired $25.00 $3.92
Outstanding Portfolio $5,031.18 $45.40
Delinquency Rate 1.17% 2.87%
Amount In Arrears $58.94 $1.30
Outstanding Portfolio $5,031.18 $45.40
Number of Loans Delinquent 25 0.01
Default Rate 0.00% 1.05%
Currency Exchange Loss Rate 0.00% 0.00%
As you can see the rate is low (as they are calculating cash value late as a % of overall portfolio) this number would rapidly increase if all those 25 loans default, which was my concern (somewhat alleviated now thanks).
And yes, I am very well diversified based on gender, industry, location.
Jun 9, 2012, 10:36 am
#866
Join Date: Jan 2004
Location: Louisville, KY, USA
Posts: 2,583
Its reassuring to see that there is that difference between delinquent and default.
My Loan Statistics
Me Average Kiva User
Total Amount Lent $8,825.00 $268.92
Total Amount Repaid $3,768.82 $217.35
Total Amount Lost $0.00 $2.05
Total Amount Refunded and Expired $25.00 $3.92
Outstanding Portfolio $5,031.18 $45.40
Delinquency Rate 1.17% 2.87%
Amount In Arrears $58.94 $1.30
Outstanding Portfolio $5,031.18 $45.40
Number of Loans Delinquent 25 0.01
Default Rate 0.00% 1.05%
Currency Exchange Loss Rate 0.00% 0.00%
As you can see the rate is low (as they are calculating cash value late as a % of overall portfolio) this number would rapidly increase if all those 25 loans default, which was my concern (somewhat alleviated now thanks).
And yes, I am very well diversified based on gender, industry, location.
My Loan Statistics
Me Average Kiva User
Total Amount Lent $8,825.00 $268.92
Total Amount Repaid $3,768.82 $217.35
Total Amount Lost $0.00 $2.05
Total Amount Refunded and Expired $25.00 $3.92
Outstanding Portfolio $5,031.18 $45.40
Delinquency Rate 1.17% 2.87%
Amount In Arrears $58.94 $1.30
Outstanding Portfolio $5,031.18 $45.40
Number of Loans Delinquent 25 0.01
Default Rate 0.00% 1.05%
Currency Exchange Loss Rate 0.00% 0.00%
As you can see the rate is low (as they are calculating cash value late as a % of overall portfolio) this number would rapidly increase if all those 25 loans default, which was my concern (somewhat alleviated now thanks).
And yes, I am very well diversified based on gender, industry, location.
Jun 9, 2012, 11:49 am
#867
Join Date: Nov 2010
Location: Brooklyn
Programs: AMEX Plat, AAdvantage Gold, UA, SPG Gold, HHonors Gold
Posts: 963
Jun 9, 2012, 6:15 pm
#868
Join Date: Jan 2004
Location: Louisville, KY, USA
Posts: 2,583
Most of my delinquencies are minor. Approximately 9% of my outstanding loans are behind but many by just a fraction of a payment. So far in 15 months I have not had a single defaulted loan. two of my loans expired and one was partially refunded whatever that means -- I had received payments of $9.94 and then got $15.06 "refunded."
My 2012 goal is to have made 1,000 loans. I count every $25 as a loan so Kiva and I have slightly different counts - my count is 19 loans ahead of Kiva based on greater than $25 loans or unintended second loans to previous borrowers.
Jun 12, 2012, 2:50 am
#869
Join Date: Feb 2007
Location: CBR
Programs: QF WP, AC*G
Posts: 1,223
With the 15th coming up, it is time to think about putting your repayments to good use. Marvin in El Salvador wants to spice up life by growing chillies on his farm and it looks like a pretty good loan to make.
http://www.kiva.org/lend/435703
http://www.kiva.org/lend/435703