Dec 20, 15, 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!
Nov 15, 21, 6:12 pm
#1396
Join Date: Mar 2004
Location: chicago
Posts: 149
I have been lending to Kiva for the last few years, getting back (most) of my money via pay pal.
I got an email from pay pal asking for my tax ID.
"The IRS will soon require anyone receiving $600 in payments for goods and services to confirm their taxpayer status. As someone who's received payments through PayPal, you'll need to confirm your taxpayer status by providing your Tax ID Number to meet the requirement"
"if needed based on the amounts you've received, we will use the information you've provided to send you a Form-1099-K in January"
Anyone else received this?
I got an email from pay pal asking for my tax ID.
"The IRS will soon require anyone receiving $600 in payments for goods and services to confirm their taxpayer status. As someone who's received payments through PayPal, you'll need to confirm your taxpayer status by providing your Tax ID Number to meet the requirement"
"if needed based on the amounts you've received, we will use the information you've provided to send you a Form-1099-K in January"
Anyone else received this?
Seems like a money-grab by paypal. they like to freeze accounts and such, no matter how long your account has been open or for whatever reason they decide
Nov 22, 21, 11:33 pm
#1397
Join Date: Aug 2008
Location: Somewhere in Florida
Posts: 2,479
I got the same email today. it was after paypal refused to issue me a paper check and insisted i link a debit card or bank account to transfer the money this way.
Seems like a money-grab by paypal. they like to freeze accounts and such, no matter how long your account has been open or for whatever reason they decide
Seems like a money-grab by paypal. they like to freeze accounts and such, no matter how long your account has been open or for whatever reason they decide
Dec 24, 21, 4:42 pm
#1398
Join Date: Feb 2005
Location: milwaukee
Programs: DL Diamond, HH Diamond, Marriott Platinum
Posts: 241
I saw this report on Doctor of Credit this week:"A major under-reported facet of the massive $1.9 stimulus bill (round 3) is that it strengthens requirements on payment processors like Paypal to report on income received through their platforms
Beginning on January 1, 2022, third party payment processors will have to report any income for goods or services exceeding $600 during the calendar year on a form 1099-K. Previously, processors only had to report this income if it was BOTH: (a) $20,000 or more during the calendar year, and (b) 200 transactions or more. This allowed most smaller stuff (like Topcashback, Ebates, PFS, Swagbucks payments) to go unreported."
https://www.doctorofcredit.com/stimu...99-k-tax-form/
I am concerned that I will get a 1099 for all of my Kiva to Pay Pal transfers starting in 2022.
Beginning on January 1, 2022, third party payment processors will have to report any income for goods or services exceeding $600 during the calendar year on a form 1099-K. Previously, processors only had to report this income if it was BOTH: (a) $20,000 or more during the calendar year, and (b) 200 transactions or more. This allowed most smaller stuff (like Topcashback, Ebates, PFS, Swagbucks payments) to go unreported."
https://www.doctorofcredit.com/stimu...99-k-tax-form/
I am concerned that I will get a 1099 for all of my Kiva to Pay Pal transfers starting in 2022.
Dec 31, 21, 8:59 pm
#1399
Moderator: American AAdvantage & TravelBuzz
Join Date: Nov 2007
Location: BOS
Programs: AA EXP, Marriott Titanium
Posts: 10,321
I've been dealing with PayPal 1099s off and on for several years now. Had some hiccups 3-4 years ago when they tried to report it as "income" - but got PayPal to reissue the form and resolved the issue. I'm not even sure I got a 1099 from them the last year or two...
PS - almost midnight here on US East Coast...looks like we'll be ending the year around:
1.083 team members
$10,793,195 funded
122,698 loans
PS - almost midnight here on US East Coast...looks like we'll be ending the year around:
1.083 team members
$10,793,195 funded
122,698 loans
Last edited by JY1024; Dec 31, 21 at 9:07 pm Reason: Update with stats
Aug 2, 22, 6:18 pm
#1401
Moderator: American AAdvantage & TravelBuzz
Join Date: Nov 2007
Location: BOS
Programs: AA EXP, Marriott Titanium
Posts: 10,321
Whelp, it's been a while, so might as well post an arbitrary update. 
As of 2 August 2022:
1,138 team members
$11,667,185 in loans funded
133,742 loans made
As of 2 August 2022:
1,138 team members
$11,667,185 in loans funded
133,742 loans made
Aug 26, 22, 3:53 pm
#1403
Moderator: American AAdvantage & TravelBuzz
Join Date: Nov 2007
Location: BOS
Programs: AA EXP, Marriott Titanium
Posts: 10,321
Sep 10, 22, 1:31 pm
#1404
Join Date: Feb 2005
Location: milwaukee
Programs: DL Diamond, HH Diamond, Marriott Platinum
Posts: 241
Update:
I didn’t receive a tax form from PP last year. Withdrawals of > 10,000.
My default rate is less than 0.5%. Delinquency has also improved dramatically.
great way to use OM/OD/ST GC.
Can you give more information?
Did you get a email? Are they still allowing withdrawals of repayments?
More details please.
I didn’t receive a tax form from PP last year. Withdrawals of > 10,000.
My default rate is less than 0.5%. Delinquency has also improved dramatically.
great way to use OM/OD/ST GC.
Originally Posted by dogeatdog
Am I the first person here banned by KIVA?
Did 110K in loans in 5 years. You would think they need interest-free money, but I guess not.
Did 110K in loans in 5 years. You would think they need interest-free money, but I guess not.
Did you get a email? Are they still allowing withdrawals of repayments?
More details please.
Last edited by l etoile; Nov 9, 22 at 7:08 am
Jan 20, 23, 6:33 am
#1405
Join Date: May 2016
Posts: 16
Update:
I didn’t receive a tax form from PP last year. Withdrawals of > 10,000.
My default rate is less than 0.5%. Delinquency has also improved dramatically.
great way to use OM/OD/ST GC.
Can you give more information?
Did you get a email? Are they still allowing withdrawals of repayments?
More details please.
I didn’t receive a tax form from PP last year. Withdrawals of > 10,000.
My default rate is less than 0.5%. Delinquency has also improved dramatically.
great way to use OM/OD/ST GC.
Can you give more information?
Did you get a email? Are they still allowing withdrawals of repayments?
More details please.
Apr 20, 23, 3:20 pm
#1406
Join Date: Aug 2001
Location: SF Bay Area
Programs: AA EXP, UA*G MM, AC 75K, Hyatt Glob, Marriott Titanium, HH Dia, IHG Plat
Posts: 4,620
Post-Pandemic Review?
I stopped donating to Kiva when the pandemic hit, figuring repayments would dry up. I guess that didn’t happen.
How is new lending going now? Can you still find opportunities where they repay within 6 to 8 months with very low delinquency/default and negligible currency loss?
How is new lending going now? Can you still find opportunities where they repay within 6 to 8 months with very low delinquency/default and negligible currency loss?
May 9, 23, 3:59 pm
#1407
Join Date: Aug 2008
Location: Somewhere in Florida
Posts: 2,479
It's been awhile since I updated my stats. Between the pandemic, supply chain issues, work-related issues, and my homes being damaged in Hurricane Ian, it's been a bit tight. I'm still doing Kiva, but not as heavy as I normally would.
Started in Dec 2015.
Amount Lent: $25,500.00
Amount Defaulted: $46.39, (was $22.97 in January 2020, $47.55 in Dec 2021)
Amount of Currency Rate Loss: $24.49, (was $0.41 in January 2020, $15.64 in Dec 2021,
Total losses: $95.37, (was $23.38 in January 2020, $63.19 in Dec 2021)
$95.37 / 25,500 = 0.00374 or 0.374%. (was 0.124% in January 2020, 0.326% in Dec 2021)
US inflation since Dec 15 is 28%. (eesh!)
So, I've made 942 loans, got the chance to help out at least that many people, and earned ~120k UR points for $95. Not as great as pre-2020, but still not a bad deal.
As far as rates go:
Delinquency Rate: 13.23% mine, Avg Kiva User 12.87%
Default Rate: 0.19% mine, Avg Kiva User 1.81%
Defaulted loans:
2020-present:
1) Total loan was $1,850 in Ecuador. $2.37 loss for me. Not upset over this.
2) Total loan was $725 in Ecuador. $2.37 loss for me. Not upset over this.
There were a few which were showing defaulted in 2020 which actually did finally pay in full. Those aren't listed here.
So... overall it's still viable. A bit riskier than it used to be, but as long as you're picky about the Kiva Partner lending group you'll be alright. That said, 4.85% savings accounts and 5%+ CDs exist. Gold's up 10% YTD. For comparison, DAL stock was at $49.96 on Dec 2015 when I started on Kiva, currently trading at $34.20. GM was $36.25, now $33.28. AT&T $26, now $17. AMZN $32, now $106. TSLA $15.36, now $169. So, there were plenty of "safe" traditional places to put your money which would have been far worse than playing around on Kiva. And there are others which would have been a much better investment.
Started in Dec 2015.
Amount Lent: $25,500.00
Amount Defaulted: $46.39, (was $22.97 in January 2020, $47.55 in Dec 2021)
Amount of Currency Rate Loss: $24.49, (was $0.41 in January 2020, $15.64 in Dec 2021,
Total losses: $95.37, (was $23.38 in January 2020, $63.19 in Dec 2021)
$95.37 / 25,500 = 0.00374 or 0.374%. (was 0.124% in January 2020, 0.326% in Dec 2021)
US inflation since Dec 15 is 28%. (eesh!)
So, I've made 942 loans, got the chance to help out at least that many people, and earned ~120k UR points for $95. Not as great as pre-2020, but still not a bad deal.
As far as rates go:
Delinquency Rate: 13.23% mine, Avg Kiva User 12.87%
Default Rate: 0.19% mine, Avg Kiva User 1.81%
Defaulted loans:
2020-present:
1) Total loan was $1,850 in Ecuador. $2.37 loss for me. Not upset over this.
2) Total loan was $725 in Ecuador. $2.37 loss for me. Not upset over this.
There were a few which were showing defaulted in 2020 which actually did finally pay in full. Those aren't listed here.
So... overall it's still viable. A bit riskier than it used to be, but as long as you're picky about the Kiva Partner lending group you'll be alright. That said, 4.85% savings accounts and 5%+ CDs exist. Gold's up 10% YTD. For comparison, DAL stock was at $49.96 on Dec 2015 when I started on Kiva, currently trading at $34.20. GM was $36.25, now $33.28. AT&T $26, now $17. AMZN $32, now $106. TSLA $15.36, now $169. So, there were plenty of "safe" traditional places to put your money which would have been far worse than playing around on Kiva. And there are others which would have been a much better investment.
Last edited by l etoile; May 10, 23 at 11:47 pm Reason: Political commentary removed
May 13, 23, 10:40 pm
#1408
Moderator: American AAdvantage & TravelBuzz
Join Date: Nov 2007
Location: BOS
Programs: AA EXP, Marriott Titanium
Posts: 10,321
I stopped donating to Kiva when the pandemic hit, figuring repayments would dry up. I guess that didn’t happen.
How is new lending going now? Can you still find opportunities where they repay within 6 to 8 months with very low delinquency/default and negligible currency loss?
How is new lending going now? Can you still find opportunities where they repay within 6 to 8 months with very low delinquency/default and negligible currency loss?
Sep 20, 23, 5:09 pm
#1409
Join Date: Nov 2007
Location: Phoenix, AZ
Programs: WN A-List, Marriott Tit
Posts: 257
Fifteen years! To congratulate us on the fifteenth anniversary of Team FlyerTalkers. Kiva is giving us and ten other fifteenth-anniversary teams with the most loan purchases a $1,000 promotional credit to use as we wish. The promotional credit will return to Kiva upon repayment
Since the funds can’t be distributed among team members, please post loan recommendations here, then I will fund those loans and attribute them to the team.
Since the funds can’t be distributed among team members, please post loan recommendations here, then I will fund those loans and attribute them to the team.
