Go Back  FlyerTalk Forums > Community > Flyertalk Cares
Reload this Page >

FlyerTalker Lending Team on Kiva.org!

FlyerTalker Lending Team on Kiva.org!

    Hide Wikipost
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
Wiki Link
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
Print Wikipost

Reply

Old Oct 19, 12, 6:57 pm
  #991  
Moderator: American AAdvantage, Mexico, Technical Support and Feedback, The Suggestion Box and Talkboard Topics
Original Poster
 
Join Date: May 2000
Location: NorCal - SMF area
Programs: AA EXP; HH Life <>; SPG Gold; Maître-plongeur des Muccis
Posts: 59,341
Holy livestock - I had a small avalanche of repayments, and re-lent half of it. In part, I just used your link to make a loan to Banco Del Desarrollo Group.

Originally Posted by kipper View Post
Someone used my referral link to make a loan, so now I have a $25 bonus as well. While I won't see that money paid back to me to relend, I'm still excited to have a bonus $25 to lend.

I opted to donate it to Banco Del Desarrollo Group.
JDiver is offline  
Reply With Quote
Old Oct 19, 12, 7:27 pm
  #992  
FlyerTalk Evangelist
2018 Secret Santa
 
Join Date: Jun 2004
Location: Either at the shooting range or anywhere good beer can be found...
Programs: HH Diamond, Priority Club Platinum
Posts: 35,103
Originally Posted by JDiver View Post
Holy livestock - I had a small avalanche of repayments, and re-lent half of it. In part, I just used your link to make a loan to Banco Del Desarrollo Group.
Thank you! They only need another $450 to be fully funded.
kipper is online now  
Reply With Quote
Old Oct 22, 12, 7:19 pm
  #993  
Moderator: American AAdvantage, Mexico, Technical Support and Feedback, The Suggestion Box and Talkboard Topics
Original Poster
 
Join Date: May 2000
Location: NorCal - SMF area
Programs: AA EXP; HH Life <>; SPG Gold; Maître-plongeur des Muccis
Posts: 59,341
...and now, they are fully funded!

The latest FT lending team stats, stats we can be proud of:
  • 328 lenders
  • 25.3 loans per member average (average is 8.7 loans per Kiva user)
  • 8,295 loans
  • $289,100 lent
JDiver is offline  
Reply With Quote
Old Oct 23, 12, 6:50 am
  #994  
A FlyerTalk Posting Legend
 
Join Date: Oct 2002
Location: back to my roots in Scotland!
Programs: Tamsin - what else is there to say?
Posts: 47,845
My defaulter has repaid her loan in full Not quite enough this month to reloan, but I'm happy to have kept my 100% record.
Jenbel is offline  
Reply With Quote
Old Nov 3, 12, 9:41 am
  #995  
Moderator: American AAdvantage & TravelBuzz
 
Join Date: Nov 2007
Location: BOS
Programs: AA EXP, SPG Plat
Posts: 9,674
Originally Posted by JDiver View Post
...and now, they are fully funded!

The latest FT lending team stats, stats we can be proud of:
  • 328 lenders
  • 25.3 loans per member average (average is 8.7 loans per Kiva user)
  • 8,295 loans
  • $289,100 lent
Since Oct 22, we've added two new team members and are now up to 330! (A hearty welcome to you! )

Just a reminder that it's the first of the month again, and lots of new loans have been posted. It's a great chance to re-loan funds or make new loans if you are able.
JY1024 is offline  
Reply With Quote
Old Nov 3, 12, 10:35 am
  #996  
Moderator: American AAdvantage, Mexico, Technical Support and Feedback, The Suggestion Box and Talkboard Topics
Original Poster
 
Join Date: May 2000
Location: NorCal - SMF area
Programs: AA EXP; HH Life <>; SPG Gold; Maître-plongeur des Muccis
Posts: 59,341
Tick, tick, tick... that's the sound waiting for loans to pay back so I can lend more!

Outstanding Loans: $3,497.10; Credit $89.47.
Loans made by me: 567; loans made by my invitees: 520.

This is another way we can get more loans - invite others to join! And give them a $25 credit to lend to boot.

And trust me, there are those with more loans out than I. (I know who you are, bwahaha! )

In the meantime, Stephen is a young Kenyan entrepreneur who may be worthy of your consideration, and I just lent to him on his second Kiva loan:

Stephen is 21 years old, and manages a motorbike transport company. He used his first loan to purchase a motorbike; this allowed business growth, so he is now seeking to purchase a second. His 5 year goal is to purchase a taxi (sic) (matatu?) Terms: 15 months; principal: 100,000 KES (USD $1,175).


Kenya can be a somewhat risky country to lend in (regardless, as I have been there a number of times, I lend there - high risk, high return). Faulu, Kiva's microfinance partner, has a Kiva risk rating of three (out of five) stars. The return rate (fees and interest on loans) is 37.06% (much lower than backstreet lenders) and the profitability was -3.38%. (It generally costs considerably more to service these loans than, say, a conventional bank loan on an automobile in a developed nation; yet you can see Faulu still looses a small amount. Faulu also provides management training, etc. to its lenders.)

Originally Posted by JY1024 View Post
Since Oct 22, we've added two new team members and are now up to 330! (A hearty welcome to you! )

Just a reminder that it's the first of the month again, and lots of new loans have been posted. It's a great chance to re-loan funds or make new loans if you are able.
JDiver is offline  
Reply With Quote
Old Nov 3, 12, 1:03 pm
  #997  
 
Join Date: Jan 2004
Location: Louisville, KY, USA
Programs: DL Platinum, Hilton Diamond, Hyatt Platinum, Starwood Gold
Posts: 2,544
Kiva is a great way to do a lot of good with very few dollars. BUT it exists not based on loans made but on dollars donated. Say thank you for giving us the opportunity to make this a better world by donating to Kiva. You can do this per loan, per month or whenever the mood strikes you. For those so inclined, now is a great time to donate operating funds to Kiva. If a United States taxpayer, the loan is deductible.
KyRoamer is offline  
Reply With Quote
Old Nov 4, 12, 8:57 am
  #998  
Moderator: American AAdvantage & TravelBuzz
 
Join Date: Nov 2007
Location: BOS
Programs: AA EXP, SPG Plat
Posts: 9,674
Originally Posted by KyRoamer View Post
If a United States taxpayer, the loan is deductible.
Not to be a stickler, but I believe that only the DONATION portion is tax-deductible; our loan principle is not tax-deductible.
JY1024 is offline  
Reply With Quote
Old Nov 4, 12, 3:58 pm
  #999  
 
Join Date: Nov 2010
Location: Brooklyn
Programs: AMEX Plat, AAdvantage Gold, UA, SPG Gold, HHonors Gold
Posts: 963
Originally Posted by JY1024 View Post
Not to be a stickler, but I believe that only the DONATION portion is tax-deductible; our loan principle is not tax-deductible.
Solid point.

In laymans terms, your loans on Kiva are NOT tax deductible (since they come back to you) but the part you get the option to kick into KIVA as a company to help their efforts is.
brooklynmatt is offline  
Reply With Quote
Old Nov 10, 12, 3:27 pm
  #1000  
 
Join Date: Jan 2004
Location: Louisville, KY, USA
Programs: DL Platinum, Hilton Diamond, Hyatt Platinum, Starwood Gold
Posts: 2,544
Originally Posted by KyRoamer View Post
For those so inclined, now is a great time to donate operating funds to Kiva. If a United States taxpayer, the DONATION is deductible.
Oops. I was talking about donations but said loan before. I corrected it in the quote above. As pointed out, only donations are deductible for United States tax purposes. So keep donating. And for my Canadian friends, whether deductible or not please donate.
KyRoamer is offline  
Reply With Quote
Old Nov 16, 12, 11:02 pm
  #1001  
A FlyerTalk Posting Legend and Moderator: Air Canada Aeroplan & Manufactured Spending
 
Join Date: May 2002
Location: YEG
Posts: 47,786
I received my first loan repayment tonight! $9.37 repaid on a $25 load to a lady running a neighborhood grocery store from her apartment supporting her family. Can't wait to make more loans.
tcook052 is offline  
Reply With Quote
Old Nov 17, 12, 9:48 am
  #1002  
 
Join Date: Mar 2010
Location: mountains of western NC
Programs: Life, Love and Laughter
Posts: 6,976
It would be nice if some other Kiva lenders would chime in on this thread as there are some folks with irrational fears about Kiva posting there:
http://www.flyertalk.com/forum/miles...te-points.html
onthego15 is offline  
Reply With Quote
Old Nov 17, 12, 2:07 pm
  #1003  
 
Join Date: Jan 2004
Location: Louisville, KY, USA
Programs: DL Platinum, Hilton Diamond, Hyatt Platinum, Starwood Gold
Posts: 2,544
Originally Posted by onthego15 View Post
It would be nice if some other Kiva lenders would chime in on this thread as there are some folks with irrational fears about Kiva posting there:
http://www.flyertalk.com/forum/miles...te-points.html
Suggest urging closure of that thread. FT ought not be used to post misinformation while admitting that no effort was made to investigate the facts.

I believe in free speech and many of us post mistaken information and are promptly corrected. This thread seems to be mean spirited in nature and not in keeping with who we are.
KyRoamer is offline  
Reply With Quote
Old Nov 17, 12, 3:20 pm
  #1004  
 
Join Date: Nov 2010
Location: Brooklyn
Programs: AMEX Plat, AAdvantage Gold, UA, SPG Gold, HHonors Gold
Posts: 963
Originally Posted by KyRoamer View Post
Suggest urging closure of that thread. FT ought not be used to post misinformation while admitting that no effort was made to investigate the facts.

I believe in free speech and many of us post mistaken information and are promptly corrected. This thread seems to be mean spirited in nature and not in keeping with who we are.
I disagree. It is a perfectly valid thread. Some people have not thought of this, and some people refuse to accept it as a possibility. The concept of Kiva is good, the implementation of Kiva is good enough (though I would hope would get better) and the risks of Kiva are real, they aren't too big to fail, and they could be set up as a Ponzi, with poor returns masked by additional investment.

It's worth keeping a level head on things, and that is a bipartisan thing.
brooklynmatt is offline  
Reply With Quote
Old Nov 18, 12, 9:53 am
  #1005  
 
Join Date: Jan 2004
Location: Louisville, KY, USA
Programs: DL Platinum, Hilton Diamond, Hyatt Platinum, Starwood Gold
Posts: 2,544
Originally Posted by brooklynmatt View Post
I disagree. It is a perfectly valid thread. Some people have not thought of this, and some people refuse to accept it as a possibility. The concept of Kiva is good, the implementation of Kiva is good enough (though I would hope would get better) and the risks of Kiva are real, they aren't too big to fail, and they could be set up as a Ponzi, with poor returns masked by additional investment.

It's worth keeping a level head on things, and that is a bipartisan thing.
Actually as I watch the thread grow, I am changing my mind. The Kiva defenders now have another forum to spread the word.

Now Kiva is not all goodness. To reach so many areas it relies on field partners who have their own agendas, some religious some otherwise. The field partners advance the loans (pre-fund) and often charge what seems to be high interest rates (but look at their rates of return on assets). Kiva loans are really a way of buying the principal component of already funded loans. They replenish the capital of the filed partner and give it a risk free (IF THE LOAN GETS FUNDED) return.

That said, Kiva is very honest about how its model works. The extra capital source expands the reach of the field partners. The field partners do more than make loans, the seek out, educate and mentor borrowers most of whom have no other sources for credit.

Of my many Kiva loans, only one (Less than 00.2%) has defaulted. I plan to stay active through Kiva and urge that you do likewise.
KyRoamer is offline  
Reply With Quote

Thread Tools
Search this Thread