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!
Aug 10, 2012, 6:32 am
#946
A FlyerTalk Posting Legend
Join Date: Jun 2004
Location: Either at the shooting range or anywhere good beer can be found...
Posts: 51,030
Thank you!!!
It's showing that she still needs $2,025, with 11 hours left.
Aug 11, 2012, 6:41 am
#947
Join Date: Aug 2008
Posts: 385
In case you didn't get an email or see this on Kiva, easy way to raise funds:
"-- 1 of 1 --
From: KyRoamer
Date: Fri, Aug 10, 2012 at 11:04 AM
I signed up at Goodsearch.com and designated Kiva as my charity of choice. Each time I search the Web, I earn about a penny for Kiva - Kiva.org. So far I've been earning for Kiva about 10 cents a day. That adds up to over $36 a year. Goodsearch uses Yahoo as its search engine. Yahoo's search is actually Bing under the covers.
http://arstechnica.com/information-....-in-us-canada/
I contacted Kiva to see if Goodsearch was legit. The first answer I got was Kiva had never heard of them. Goodsearch then gave me the date of last year's check and Kiva confirmed its receipt. Last year Kiva got over $200 and this year it has $1,800 accrued. Payments are made in December of each year.
If 1000 of us signed up we could earn over $36,000 for Kiva. If we get some other teams to participate, the number is even bigger.
Goodsearch has an A+ rating at BBB.org."
From: KyRoamer
Date: Fri, Aug 10, 2012 at 11:04 AM
I signed up at Goodsearch.com and designated Kiva as my charity of choice. Each time I search the Web, I earn about a penny for Kiva - Kiva.org. So far I've been earning for Kiva about 10 cents a day. That adds up to over $36 a year. Goodsearch uses Yahoo as its search engine. Yahoo's search is actually Bing under the covers.
http://arstechnica.com/information-....-in-us-canada/
I contacted Kiva to see if Goodsearch was legit. The first answer I got was Kiva had never heard of them. Goodsearch then gave me the date of last year's check and Kiva confirmed its receipt. Last year Kiva got over $200 and this year it has $1,800 accrued. Payments are made in December of each year.
If 1000 of us signed up we could earn over $36,000 for Kiva. If we get some other teams to participate, the number is even bigger.
Goodsearch has an A+ rating at BBB.org."
Last edited by JDiver; Aug 11, 2012 at 2:46 pm Reason: add quite box
Aug 13, 2012, 6:44 am
#948
A FlyerTalk Posting Legend
Join Date: Jun 2004
Location: Either at the shooting range or anywhere good beer can be found...
Posts: 51,030
I've now had my last 3 loans refunded to me!
My latest loan is to Avtandil. I'm beginning to think I can't give this $25 away to anyone on Kiva! This loan still has 2 days, but still needs $775 to be fully funded.
My latest loan is to Avtandil. I'm beginning to think I can't give this $25 away to anyone on Kiva! This loan still has 2 days, but still needs $775 to be fully funded.
Aug 13, 2012, 5:35 pm
#949
Join Date: Dec 2009
Location: WAS
Posts: 3,006
I've now had my last 3 loans refunded to me!
My latest loan is to Avtandil. I'm beginning to think I can't give this $25 away to anyone on Kiva! This loan still has 2 days, but still needs $775 to be fully funded.
My latest loan is to Avtandil. I'm beginning to think I can't give this $25 away to anyone on Kiva! This loan still has 2 days, but still needs $775 to be fully funded.
Aug 13, 2012, 7:53 pm
#950
A FlyerTalk Posting Legend
Join Date: Jun 2004
Location: Either at the shooting range or anywhere good beer can be found...
Posts: 51,030
Aug 15, 2012, 11:50 am
#951
Join Date: Jul 2003
Location: New York, NY USA
Posts: 284
Credits started to come in today. I was looking for some new loans to credit to the FT team and saw that loans are now available in India.
These are all long term (3 year) loans due to government regulations and carry some additional risk - more info on the Kiva page here:
http://www.kiva.org/india#indiaRegulations
These are all long term (3 year) loans due to government regulations and carry some additional risk - more info on the Kiva page here:
http://www.kiva.org/india#indiaRegulations
Aug 15, 2012, 12:19 pm
#952
A FlyerTalk Posting Legend
Join Date: Jun 2004
Location: Either at the shooting range or anywhere good beer can be found...
Posts: 51,030
Logged in and saw that I have enough credits now to relend without adding money to it, so I've made another loan. This one is to Mekhman. It expires in about 8 hours, and only needs another $400 to fully fund it.
As a team, we have 314 members and have loaned $265,125 to fund 7,509 loans!!!
As a team, we have 314 members and have loaned $265,125 to fund 7,509 loans!!!
Aug 17, 2012, 10:32 am
#953
Senior Moderator and Moderator: American AAdvantage & TravelBuzz
Join Date: Nov 2007
Location: BOS
Programs: AA EXP, Marriott Titanium
Posts: 10,414
Logged in and saw that I have enough credits now to relend without adding money to it, so I've made another loan. This one is to Mekhman. It expires in about 8 hours, and only needs another $400 to fully fund it.
For those who loan to Zimbabwe through MicroKing Savings and Credit, I just noticed that the Kiva team recently posted an update on this institution: http://www.kiva.org/partners/184. I've been loaning to them since Sept 2011. My loans made between Sept and Dec have all fully paid back; only my most recent loan is currently delinquent. Just a heads-up to others who may have seen their high delinquency/at-risk percentage.
Status Update - August 13, 2012
This spring, MicroKing's delinquency rates became abnormally high. As a result, the organization has decided to restructure part of its Kiva portfolio. It will be re-evaluating the repayment terms of certain borrower groups to ease the burden on clients who are having difficulty repaying their loans on time.
Unfortunately, it is impossible to change the repayment schedule of a loan once it is posted to Kiva. This means that clients may show up on Kiva as delinquent, even though they are not. This is becauseMicroKing is collecting less per installment than reflected on the website. For example, a loan that originally had a 12-month repayment term may be restructured to 18 months so that the client can pay less per installment.
MicroKing's decision to restructure will affect delinquency rates in two places on Kiva:
1. MicroKing's overall delinquency rate will be artificially high.
2. MicroKing borrowers may appear delinquent on Kiva when they are actually paying back on time per their restructured payment schedules.
MicroKing attributes repayment difficulty to seasonality and low-liquidity during the months of January, February and March in Zimbabwe. During this period, many people need to pay school fees, and agricultural workers must buy inputs like seed and fertilizer. The lack of disposable cash in the market hurts Kiva borrowers who are primarily employed in retail and cross-border trade.
Last updated August 13, 2012
This spring, MicroKing's delinquency rates became abnormally high. As a result, the organization has decided to restructure part of its Kiva portfolio. It will be re-evaluating the repayment terms of certain borrower groups to ease the burden on clients who are having difficulty repaying their loans on time.
Unfortunately, it is impossible to change the repayment schedule of a loan once it is posted to Kiva. This means that clients may show up on Kiva as delinquent, even though they are not. This is becauseMicroKing is collecting less per installment than reflected on the website. For example, a loan that originally had a 12-month repayment term may be restructured to 18 months so that the client can pay less per installment.
MicroKing's decision to restructure will affect delinquency rates in two places on Kiva:
1. MicroKing's overall delinquency rate will be artificially high.
2. MicroKing borrowers may appear delinquent on Kiva when they are actually paying back on time per their restructured payment schedules.
MicroKing attributes repayment difficulty to seasonality and low-liquidity during the months of January, February and March in Zimbabwe. During this period, many people need to pay school fees, and agricultural workers must buy inputs like seed and fertilizer. The lack of disposable cash in the market hurts Kiva borrowers who are primarily employed in retail and cross-border trade.
Last updated August 13, 2012
Aug 25, 2012, 9:23 pm
#954
Join Date: Feb 2008
Posts: 940
I've made over 80+ loans of varying amounts to kiva in the past couple of years.
While I selectively pick each and every loan I choose (based on the sector that I want to help in particular), sometimes I can't help but wonder how much of a "real" difference these loans are making since lending organizations funds it/per-disburses those loans anyway. I understand how it works, but I can't help but wonder.
On the plus side, my default rate is zero, though there are still plenty of loans that are still outstanding at the moment. I had a couple of people who I previously loaned to who are requesting new loans. I haven't decided if that's promising or not (i.e. they are responsible people who paid it back and wanted to borrow and expand, or they didn't borrow or save enough the first go-around to sustain whatever they were trying to accomplish). I believe in the former right now, or at least I hope that's the case!
While I selectively pick each and every loan I choose (based on the sector that I want to help in particular), sometimes I can't help but wonder how much of a "real" difference these loans are making since lending organizations funds it/per-disburses those loans anyway. I understand how it works, but I can't help but wonder.
On the plus side, my default rate is zero, though there are still plenty of loans that are still outstanding at the moment. I had a couple of people who I previously loaned to who are requesting new loans. I haven't decided if that's promising or not (i.e. they are responsible people who paid it back and wanted to borrow and expand, or they didn't borrow or save enough the first go-around to sustain whatever they were trying to accomplish). I believe in the former right now, or at least I hope that's the case!
Aug 28, 2012, 11:50 am
#955
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
BOShappyflyer, that's an easy question . As soon as we stop lending, the pre-disbursements (and loans of any other kind funded by people form the many countries Kiva links to microlenders) will cease and we will stop making a difference or impact. The pre-disbursements are merely a device - advances made on the premise the money will be forthcoming via Kiva, predicated on normal levels of activity; if those dry up microlenders will be limited to those funds they can raise locally and the process will stultify and wither.
. As soon as we stop lending, the pre-disbursements (and loans of any other kind funded by people form the many countries Kiva links to microlenders) will cease and we will stop making a difference or impact. The pre-disbursements are merely a device - advances made on the premise the money will be forthcoming via Kiva, predicated on normal levels of activity; if those dry up microlenders will be limited to those funds they can raise locally and the process will stultify and wither.
Aug 28, 2012, 2:21 pm
#956
Join Date: Nov 2010
Location: Brooklyn
Programs: AMEX Plat, AAdvantage Gold, UA, SPG Gold, HHonors Gold
Posts: 963
Well, a sad truth of Kiva is that the in country organizations who do manage the loans are somewhat victimizing the end users.
It isn't as pure and sweet as you actually wiring your $25 to Bobby in Sri Lanka, but its better than the alternative.
It isn't as pure and sweet as you actually wiring your $25 to Bobby in Sri Lanka, but its better than the alternative.
Aug 28, 2012, 2:52 pm
#957
Join Date: Dec 2009
Location: WAS
Posts: 3,006
Aug 28, 2012, 3:22 pm
#958
Join Date: Jan 2004
Location: Louisville, KY, USA
Posts: 2,583
Without Field Partners, organized micro lending is nearly impossible. KIVA ZIP is an attempt to eliminate the middleman. It is still too new to judge its long term success.
I have seen no exploitation. Small loans are often as costly to place and administer as big ones, but the same fee is a much larger percentage.
Sep 3, 2012, 9:12 pm
#960
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
Your credit union or bank can make a $25,000 loan to you at low interest as they have alot of compeititon for your loa. As well, you have an established credit history so they have your FICO score, they have automated the process as much as it can be done and you know how it goes. You do an autopay, they send you monthly statements, and soon enough it's over.
The microlender spends as much, or often far more, time and resources to service a microloan than your bank does for your mortgage or automobile. The lender often is the only recourse for a loan for microentrepreneurs like the ones Kiva links us to, other than village loan sharks; they often have to vet people, secure a number of backers who will vouch for the lender, teach people what borrowing is and may have to send a representative to the village monthly to collect on the loan, as well as provide some education and face to face contact for various reasons. Very little, if any, of this is automated, and there is no FICO in Afghanistan or Laos.
This might be for a loan is low as a few hundred dollars. Relative to your loan, the overhead is horrendous, ergo, the loan service fees / APR are looking horrendous - but check what small village loan sharks charge, often well over 10% and offer some, er, extralegal ways of collecting as well.
Put it in perspective, and that's why I've made 528 loans, have outstanding loans totaling $3,262.33 and am about to lend another $400+. I was raised in a developing nation that uses Kiva-linked microlenders, have spent significant time in small villages in six continents over the years and know how this all works - and I recollect clearly the reports made by "our own" Kiva fellow, Giblet, as she volunteered for MAXIMA Mikroheranhvatho Co., Ltd. in Cambodia, reporting and making field visits taking all day to small farmers and craftspeople, etc. with MAXIMA staff.
In some countries KIVA is in, loans are very hard to get - even major purchases like houses are paid fully. BTW, I read this morning a local "payday loan" outfit in California was charging ~781% APR... No, not 78.1, 781%. 'Nuff said.
The microlender spends as much, or often far more, time and resources to service a microloan than your bank does for your mortgage or automobile. The lender often is the only recourse for a loan for microentrepreneurs like the ones Kiva links us to, other than village loan sharks; they often have to vet people, secure a number of backers who will vouch for the lender, teach people what borrowing is and may have to send a representative to the village monthly to collect on the loan, as well as provide some education and face to face contact for various reasons. Very little, if any, of this is automated, and there is no FICO in Afghanistan or Laos.
This might be for a loan is low as a few hundred dollars. Relative to your loan, the overhead is horrendous, ergo, the loan service fees / APR are looking horrendous - but check what small village loan sharks charge, often well over 10% and offer some, er, extralegal ways of collecting as well.
Put it in perspective, and that's why I've made 528 loans, have outstanding loans totaling $3,262.33 and am about to lend another $400+. I was raised in a developing nation that uses Kiva-linked microlenders, have spent significant time in small villages in six continents over the years and know how this all works - and I recollect clearly the reports made by "our own" Kiva fellow, Giblet, as she volunteered for MAXIMA Mikroheranhvatho Co., Ltd. in Cambodia, reporting and making field visits taking all day to small farmers and craftspeople, etc. with MAXIMA staff.
In some countries KIVA is in, loans are very hard to get - even major purchases like houses are paid fully. BTW, I read this morning a local "payday loan" outfit in California was charging ~781% APR... No, not 78.1, 781%. 'Nuff said.
Last edited by JDiver; Sep 4, 2012 at 9:19 am Reason: add final para