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!
#1201
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
Here we are, well over a million bucks! Way to go, FT Kiva Team!
#1202
FlyerTalk Evangelist
Join Date: May 2012
Location: Sydney Australia
Programs: No programs & No Points!!!
Posts: 14,222
I love Kiva. I didn't know that Flyertalk has their own Kiva account thingie. I'll have to check it out.
A few of us at an office I used to work at used to do the loans first thing Monday morning and you'd hear us call out "I've got one for 3 cows in Sudan".
I have a credit at the moment. I must re-loan.
A few of us at an office I used to work at used to do the loans first thing Monday morning and you'd hear us call out "I've got one for 3 cows in Sudan".
I have a credit at the moment. I must re-loan.
#1203
Senior Moderator and Moderator: American AAdvantage & TravelBuzz
Join Date: Nov 2007
Location: BOS
Programs: AA EXP, Marriott Titanium
Posts: 10,416
I love Kiva. I didn't know that Flyertalk has their own Kiva account thingie. I'll have to check it out.
A few of us at an office I used to work at used to do the loans first thing Monday morning and you'd hear us call out "I've got one for 3 cows in Sudan".
I have a credit at the moment. I must re-loan.
A few of us at an office I used to work at used to do the loans first thing Monday morning and you'd hear us call out "I've got one for 3 cows in Sudan".
I have a credit at the moment. I must re-loan.
(As you probably know, you can join as many teams as you'd like, but you can only attribute each loan to count against the totals of one team.)
#1205
Join Date: Aug 2011
Location: The Phoenix Desert
Programs: Hilton Cubic Zirconia, Marriott Fools Gold
Posts: 1,692
I'm fairly new to kiva... But the last couple of months I've only had one delinquent loan and this month I have seven (out of ~130). I'm not overly concerned as I think the FP's are just overwhelmed with loans right now judging by the number of loans still in fundraising.
#1206
Join Date: Aug 2006
Posts: 756
I was going to help out to good causes by being a Kiva donor. But the last few post had me stop and rethink before committing.
I've always thought from reading about Kiva that delinquency was very rare
So just what happens when a loan is delinquent, do you lose all your money or parts of? Sounds risky with no guarantees of any safe returns. I don't mind loaning money with no interest but also don't want to lose my money in the process.
I had thought about loaning out about $2-4000. Notice many loans are relatively small like $25 or so. That would mean I have to do something like 150 loans. Sound very time consuming or am I reading it all wrong.
Sorry as I'm a newbie to this so maybe newbie questions and anxiety. I want to get a feel from others that have been at this for awhile. Just want to make not only a good decision by helping but also an educated one.
Thanks
I've always thought from reading about Kiva that delinquency was very rare
So just what happens when a loan is delinquent, do you lose all your money or parts of? Sounds risky with no guarantees of any safe returns. I don't mind loaning money with no interest but also don't want to lose my money in the process.
I had thought about loaning out about $2-4000. Notice many loans are relatively small like $25 or so. That would mean I have to do something like 150 loans. Sound very time consuming or am I reading it all wrong.
Sorry as I'm a newbie to this so maybe newbie questions and anxiety. I want to get a feel from others that have been at this for awhile. Just want to make not only a good decision by helping but also an educated one.
Thanks
#1207
Moderator: Lufthansa Miles & More, India based airlines, India, External Miles & Points Resources
Join Date: Dec 2002
Location: MUC
Programs: LH SEN
Posts: 48,162
It really depends what loans you pick. Last year capital one was matching 'loans' to US based Kiva affiliates and I put quite a bit of loans there. Many of them defaulted.
I'm administering 1000$ donated to Kiva in 2009 and 2010 during the SMD1 & SMD2, basically re-lending all repayments as they become available:
View Screen Capture
With each default, the pot shrinks a bit. So far I've lost 240$ of 1000 over about 4-5 years. I continue to relend, but in general I'm very skeptical of Kiva and how they handle defaults.
I'm administering 1000$ donated to Kiva in 2009 and 2010 during the SMD1 & SMD2, basically re-lending all repayments as they become available:
View Screen Capture
With each default, the pot shrinks a bit. So far I've lost 240$ of 1000 over about 4-5 years. I continue to relend, but in general I'm very skeptical of Kiva and how they handle defaults.
#1208
Join Date: Aug 2008
Location: Somewhere in Florida
Posts: 2,620
As a result, I'm much more inclined to make loans to rural areas where banks are uncommon and these NGOs may be the only organized form of loans available. I also look at the Field Partners' track records. The longer the FP's been on Kiva, the more loans they've made, and hopefully the more they've learned. I'd like to believe the stories provided are true although the cynic in me does question them. Despite that, I'm far more inclined to loan to someone who has an established business or a venture with a good chance for success.
I'm sorry, but I'm NOT going to fund a wedding on there, no matter how well the story is written. Going into debt for a wedding is madness, no matter the country you live in.
I also looked at the profiles of people who've made a high number of loans, figuring that they've been burned a few times, and follow their moves. No different than following expert investors.
I'll be honest -- I'm doing Kiva for MS/min spend requirements. I have plenty of true charitable giving I do throughout the year and have a 100% "default rate" with that. With Kiva, if there's some defaults, I just view it as more charitable giving.
As with all MS, and any investment for that matter, you should never have more exposure than you can safely handle losing.
#1209
Moderator: Lufthansa Miles & More, India based airlines, India, External Miles & Points Resources
Join Date: Dec 2002
Location: MUC
Programs: LH SEN
Posts: 48,162
I'm pretty certain the field 'partners' get their cut and don't have such a high default rate. As I curate these 1000$ once collected at two FT events I have no personal stake in it, but it really bugs me how Kiva & co harp on about helping the downtrodden, but when things go south they offload the entire damage to the people who fund them.
Speaking of US loans, today while relending 50$ I came across this request: http://www.kiva.org/lend/984755
This applicant clearly works her butt off in 2-3 jobs and still doesn't realise that taking part in pyramid retail schemes is a stupid idea.
Speaking of US loans, today while relending 50$ I came across this request: http://www.kiva.org/lend/984755
This applicant clearly works her butt off in 2-3 jobs and still doesn't realise that taking part in pyramid retail schemes is a stupid idea.
#1210
Join Date: Aug 2008
Location: Somewhere in Florida
Posts: 2,620
Oliver: I do wonder if it'd be possible to have some sort of insurance on these loans. If the Kiva default rates are what they claim (which the skeptic in me does question), the costs for doing this would be minimal. I also wonder if Kiva charges the NGOs/FPs interest. If so, we're not seeing any of it. If they did, the interest could easily cover whatever insurance coverage people might elect to take.
I just looked at that US loan you posted. Sadly, she'll probably make far more as a bartender than she will with the Mary Kay stuff. I have a few friends and family who are bartenders and they don't own Gulfstreams, but they certainly aren't hurting either.
On the US loans, I worry about the size and length of some of the loans. This one disturbs me: http://www.kiva.org/lend/984708 $6800 (~$5800 backing out interest) for a new AC in Deltona, Florida? I seriously question this -- it should only cost ~$2k-3k for a change-out in Deltona. I also question the borrow's ability to repay. Chances are they have a mortgage and car loan to pay as well. Will they be able to afford the extra $120/month? For that matter, will Kiva still be around in 5 years? I sympathize for her, but can't help but feel she's getting taken by all parties involved.
I just looked at that US loan you posted. Sadly, she'll probably make far more as a bartender than she will with the Mary Kay stuff. I have a few friends and family who are bartenders and they don't own Gulfstreams, but they certainly aren't hurting either.
On the US loans, I worry about the size and length of some of the loans. This one disturbs me: http://www.kiva.org/lend/984708 $6800 (~$5800 backing out interest) for a new AC in Deltona, Florida? I seriously question this -- it should only cost ~$2k-3k for a change-out in Deltona. I also question the borrow's ability to repay. Chances are they have a mortgage and car loan to pay as well. Will they be able to afford the extra $120/month? For that matter, will Kiva still be around in 5 years? I sympathize for her, but can't help but feel she's getting taken by all parties involved.
#1211
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
Just noticed I hit a round $25,000 in loans today!
Loans: 929
To Team FlyerTalk: $23,700
Loans: 929
To Team FlyerTalk: $23,700
Last edited by JDiver; Jul 28, 2016 at 7:55 pm
#1212
Join Date: Aug 2011
Location: The Phoenix Desert
Programs: Hilton Cubic Zirconia, Marriott Fools Gold
Posts: 1,692
#1213
Moderator: Lufthansa Miles & More, India based airlines, India, External Miles & Points Resources
Join Date: Dec 2002
Location: MUC
Programs: LH SEN
Posts: 48,162
Code:
Quit Team? Impact Updated Hourly 569 Team Members $1,849,225 Amount Loaned 32,319 Loans 56.8 Loans per member Rankings Across All Teams #8 for Amount Loaned (Last Month) Rankings In Common Interest Category #6 for Amount Loaned (This Month) #6 for Amount Loaned (Last Month)
#1214
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
#1215
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
Code:
Quit Team? Impact Updated Hourly 569 Team Members $1,849,225 Amount Loaned 32,319 Loans 56.8 Loans per member Rankings Across All Teams #8 for Amount Loaned (Last Month) Rankings In Common Interest Category #6 for Amount Loaned (This Month) #6 for Amount Loaned (Last Month)
Team Flyertalk
Team members: 569
Loans: 32,340
Lent: $1,849,775
and we're growing:
2013: $219,925
2014: $471,675
2015: $805,225
Team members: 569
Loans: 32,340
Lent: $1,849,775
and we're growing:
2013: $219,925
2014: $471,675
2015: $805,225