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FlyerTalker Lending Team on Kiva.org!

FlyerTalker Lending Team on Kiva.org!

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Old Jun 29, 19, 11:18 pm   -   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.
 
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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 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
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Old Nov 27, 17, 3:43 am
  #1306  
Moderator: Lufthansa Miles & More, India based airlines, India, External Miles & Points Resources
 
Join Date: Dec 2002
Location: MUC
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Originally Posted by KRSW View Post
If you're looking towards Kiva as a method for MS, it can be... but like all methods of MS, there is risk involved.
As mentioned above I don't use Kiva as MS vehicle, but just curate the 1000$ collected at SMD1&2. No withdrawals or contributions made since then. I understand what Kiva is all about, but am still very disappointed how they handle things. Accion US, who was the outfit handling the US loans which defaulted in a big way, renamed itself and relisted for example. It has since been closed by Kiva again.
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Old Jan 1, 18, 10:51 pm
  #1307  
Moderator: American AAdvantage & TravelBuzz
 
Join Date: Nov 2007
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Posts: 10,227
Happy 2018! :-::-:

Stats as of today...

Team members: 791
Loan amount to date: $3,859,150
Loans to date: 57,474

Among all Kiva lending teams, we rank #21 globally for amount loaned! ^

Originally Posted by JDiver View Post
It looks like 2017 will be our first million dollar year!
Indeed! Our 2017 total ended up being $1,130,575! Great work everybody!
JY1024 is offline  
Old Jan 9, 18, 5:44 am
  #1308  
 
Join Date: Jul 2013
Location: MA, USA
Programs: Delta
Posts: 18
Was unaware of this one on FlyerTalk. Just joined this a.m. and sent some cash around the world.
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Old Jan 9, 18, 9:07 am
  #1309  
Moderator: American AAdvantage, TAP, Mexico, Technical Support and Feedback, and The Suggestion Box
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Join Date: May 2000
Location: NorCal - SMF area
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Originally Posted by PapaJack View Post
Was unaware of this one on FlyerTalk. Just joined this a.m. and sent some cash around the world.
Welcome to our team.
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Old Jan 12, 18, 6:26 pm
  #1310  
 
Join Date: Jan 2014
Posts: 24
I started using Kiva a few months ago -- firstly just for the charity aspect, but since I figured it would be good to generate some spend, I've been trying to 100x that. Currently around $3k loaned, and it's helped me meet a minimum spend already! My strategy has been to focus on partners with near-zero default and currency loss % (i.e., they have been willing to take the hit themselves in the past), who've operated for a long time (although in practice, that means only 1-3 stars risk rating), and focusing on quickly repaid loans (less than 6mos), and trying to balance my portfolio across lenders and countries - which has been difficult.. Let's see how it plays around -- hopefully the first default won't come for a while!

Originally Posted by KRSW View Post
I've been doing this for about a year. My stats:

Total loans: 230
Total lent: $6,550.00
Total lost: $0.18
Amount of currency loss: $0.18

I'm not sure where else you can pick up 32,000 UR points for $0.18.
How did you get 32k UR for $6.5k in spend?! Minimum spend bonus, or is there some sort of 5x multiplier? :O
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Old Feb 20, 18, 9:11 pm
  #1311  
Moderator: American AAdvantage & TravelBuzz
 
Join Date: Nov 2007
Location: BOS
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Looks like we’ve hit another milestone...the FT Kiva team has now loaned over $4 MILLION!


Stats as of today...

Team members: 825
Loan amount to date: $4,010,225
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Old Feb 21, 18, 8:29 am
  #1312  
Moderator: American AAdvantage, TAP, Mexico, Technical Support and Feedback, and The Suggestion Box
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Join Date: May 2000
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Originally Posted by JY1024 View Post
Looks like we’ve hit another milestone...the FT Kiva team has now loaned over $4 MILLION!


Stats as of today...

Team members: 825
Loan amount to date: $4,010,225
Awesome!
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Old Mar 20, 18, 2:37 pm
  #1313  
 
Join Date: Aug 2008
Location: Somewhere in Florida
Posts: 2,227
Originally Posted by 7gui7 View Post
How did you get 32k UR for $6.5k in spend?! Minimum spend bonus, or is there some sort of 5x multiplier? :O
Easy, 5x VGCs. Although lately it's been 2.25x (CFU + CSR). Part of me doing Kiva is indeed the charitable/good works aspect of it, but I do have to admit that it's fun to see the money come back in. When I make loans, I do (obviously) try to find people who will pay me back, BUT I do take the occasional risk and throw some money on something a bit riskier because I like what the person is trying to do.
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Old Mar 26, 18, 9:23 am
  #1314  
Moderator: Lufthansa Miles & More, India based airlines, India, External Miles & Points Resources
 
Join Date: Dec 2002
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This month I had a blodd boiling moment with Kiva again. So I lent money in July 2014 to a project run by Caritas Uganda, a global church funded charity:
https://www.kiva.org/lend/706146

Caritas Uganda seeks to enable 1,000 rural households in Masaka, Mbarara, Kabale, Kasese and Hoima dioceses to acquire and have installed Barefoot Power solar systems. This loan would enable the rural farmer households to buy and pay back using savings from the would-have-been kerosene and phone-charging expenditures as well as incomes from the sale of seasonal crops such as coffee, cotton, matooke and milk.
In 2014, we saw this update:
In this loan model, the organization Caritas chooses and refers to Barefoot, small villages where residents do not have access to electricity. Then Barefoot goes to each village (with approximately 100 households) and meets with the different Caritas groups to explain their solar home systems and gauge customer interest. If households want to buy a solar home system, they must pay 20% in advance as a down payment and then pay the rest in instalments over six months.However, not all households can pay the 20% down payment upfront. For these households, Barefoot instructs them to save up money for the down payment, and whenever they are ready with the down payment Barefoot installs their solar home systems.Barefoot and Caritas developed this arrangement in partnership, based on Caritas' experience in the communities. Caritas has reported, though, that households are struggling to pay the 20% down payment, so Caritas' sales are slower than expected. Caritas does hope that sales will pick up and intends to revolve the Kiva loan amount twice in the 12-month period. Caritas would like to say, “thank you” to all lenders for their help
On March 16, Kiva gave up on this loan:

This loan was defaulted on 03/16/2018, with $41,460.00 of $50,000.00 amount repaid.In microfinance, it's common to try to reschedule loans to accommodate eventual repayment, however sometimes loans end in default, despite efforts to be flexible. Kiva loans are defaulted at the point in time collection of future repayments is deemed unlikely, or when the loan is more than 180 days past due. This loan is being defaulted because:Barefoot has been unable to collect further repayments from Caritas. After 12months of trying to do so, we are moving them into default.Please know that even in cases of non-repayment your loans are still helping make a difference in the lives of borrowers around the globe, and with your support you're giving people an opportunity to pursue better lives.
Barefoot says this on their website:
Barefoot Power Uganda is expanding its LUAV program rapidly with a number of partners, among others Caritas Uganda. Every month more than 500 Caritas families across eight different areas of the country sign up for one of the products. Installation is done by the Barefoot Power Uganda technicians while selected members from the community are trained in both installation and after sales support.
https://www.barefootpower.com/uganda.html

Their Kiva page is a different tale: https://www.kiva.org/about/where-kiv...s/partners/212

So Kiva lenders gave money to Caritas or to Barefoot? Then this was used for 20% downpayments? And in the end when nothing worked the committment to repay Kiva lenders was just canned? Caritas and Barefoot still exist and are well funded...
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Old Mar 27, 18, 7:16 am
  #1315  
Moderator: American AAdvantage, TAP, Mexico, Technical Support and Feedback, and The Suggestion Box
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It sounds as if Caritas Uganda kept a separate “book” on this particular project (contracting with Barefoot for the actual power installations) and ultimately defaulted on the basis of fewer down payments and repayments than forecast. Astute compartmented budgeting by Caritas and Caritas Uganda, but the Kiva lenders for this project were ultimately left hung out to dry.
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Old Apr 19, 18, 12:27 pm
  #1316  
 
Join Date: Aug 2008
Location: Somewhere in Florida
Posts: 2,227
I figured I'd update my stats. One of my defaulted loans actually paid back!:

Started in Dec 2015.
Amount Lent: $9500
Amount Defaulted: $1.98
Amount of Currency Rate Loss: $0.21
Total losses: $2.19
$2.19 / $9500 = 0.0002305263158 or 0.023%.

US inflation for the same time period was 5.51%.

So, I've made 344 loans, got the chance to help out at least that many people, and earned ~30k-40k UR points for $2.19. Not a bad deal.
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Old May 19, 18, 6:13 pm
  #1317  
Moderator: American AAdvantage & TravelBuzz
 
Join Date: Nov 2007
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Those are pretty good stats - thanks for sharing!

Last year, I started to take snapshots of my key Kiva stats, just so I could track some key stats temporally. I, too, noticed that sometimes my defaulted amount would actually drop (but, of course, the general trend line is upwards).

And for what it’s worth: my total loss (defaulted + currency loss) percent is about an order of magnitude higher than yours, but still very reasonable in my mind - just around ~0.2 %.
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Old Aug 6, 18, 1:53 am
  #1318  
 
Join Date: Apr 2016
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Originally Posted by KRSW View Post
Easy, 5x VGCs. Although lately it's been 2.25x (CFU + CSR). Part of me doing Kiva is indeed the charitable/good works aspect of it, but I do have to admit that it's fun to see the money come back in. When I make loans, I do (obviously) try to find people who will pay me back, BUT I do take the occasional risk and throw some money on something a bit riskier because I like what the person is trying to do.
That's a great idea. I'm going to look into this. Help others and help myself - two birds with one stone.
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Old Aug 20, 18, 6:09 pm
  #1319  
Moderator: American AAdvantage & TravelBuzz
 
Join Date: Nov 2007
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Well, at the rate we're going, we may just hit our next milestone before the end of the year...

Stats as of today:

Team members: 854
Loans: 57,567
Amount funded: $4,788,400


Originally Posted by JY1024 View Post
Looks like we’ve hit another milestone...the FT Kiva team has now loaned over $4 MILLION!


Stats as of today...

Team members: 825
Loan amount to date: $4,010,225
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Old Sep 28, 18, 12:42 pm
  #1320  
 
Join Date: Jan 2011
Location: Philadelphia, PA
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Posts: 1,625
I just made my first donation through here...great way to give back!
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