Kiva.org

Posted:
in AppleOutsider edited January 2014
Kiva.org



Here is your opportunity to directly aid the people in the developing world for as little as $25. I think it would really be neat if we selected a specific person to be aided within this thread, funded their loan and then tracked the results.



Anyone else here up for this?



Nick
«13456

Comments

  • Reply 1 of 106
    trick falltrick fall Posts: 1,271member
    Trumpt, have you done the research on this group? How do you send money? I might be interested.
  • Reply 2 of 106
    trumptmantrumptman Posts: 16,464member
    From CNN



    Quote:

    Kiva, unlike some Wall Street funds investing in microfinance, isn't designed as an investment vehicle.



    Lenders on Kiva can hope to get their loan repaid in full, but they don't get paid interest. The "return on investment" comes in the form of pictures and stories of a business idea moving from a concept to a (hopefully) money-making reality.



    Using PayPal as an intermediary, lenders create an account at Kiva and can then browse through photos and business pitches from those seeking a loan.



    Pitches from people like Charles Ekoju, who wanted $500 to buy eight bails of used clothing to sell out of his house.



    Or Joseph Adongu, who got $500 to add better goats to his herd.



    "That is now helping him support his family and pay school fees for his children," reads Adongu's monthly update on Kiva. "With large profit he gets, he is faithful in handling the loan and paying back promptly."



    The lender, whose loan can be combined with others to meet the needs of a borrower, is credited through their PayPal account as the loan is paid back.



    You don't make interest on the loan so we can't be said to be exploiting these folks. Instead we get pictures and updates about the way the money has made an actual difference.



    Businessweek



    The repayment and loan system all apparently works through Paypal and is done free of charge for all parties.



    I really think it would be nice if we could all pitch in, fund say a $500 loan (perhaps even funded by AI/AN regulars exclusively) and then we could all share in the updates related to the loan.



    Kiva 1



    Kiva 2



    Kiva 3



    Here are three examples of the types of loans I figured we could fund. I know we are talking about folks who appear to earn $3-10 U.S. dollars per day but the risk is shared as well.



    Nick



    Edit: The transactions occur via the Paypal site and you do not need a Paypal account. You can simply pay with a bank card that has a Visa/Mastercard logo or with a credit card.
  • Reply 3 of 106
    trumptmantrumptman Posts: 16,464member
    Update, I simply decided to fund the first $50 of the first Kiva loan. Business number 600. This loan amount is very small. I figure if it ends up fully funded, we can discuss and move on to others, but I find that action drives action.



    Anyone else going to chip in?



    Nick
  • Reply 4 of 106
    brussellbrussell Posts: 9,812member
    I don't think I have a paypal account, but I'll look into it How do you figure out which is number 600?
  • Reply 5 of 106
    trumptmantrumptman Posts: 16,464member
    Quote:

    Originally posted by BRussell

    I don't think I have a paypal account, but I'll look into it How do you figure out which is number 600?



    Simply click on the link above called Kiva 1.



    Here it is again. Business number 600.





    Kiva 1



    Nick
  • Reply 6 of 106
    brussellbrussell Posts: 9,812member
    OK. By the way, this is probably better than this.
  • Reply 7 of 106
    chuckerchucker Posts: 5,089member
    Just donated $25. $175 still needed.
  • Reply 8 of 106
    trumptmantrumptman Posts: 16,464member
    Quote:

    Originally posted by BRussell

    OK. By the way, this is probably better than this.



    Actually I did both. Now I can use the interest from the Prosper loans to fund a Kiva loan. Exploiting Americans to fund loans in Kenya. Is that worth anything in the Karma scale?



    BTW, here is what the BBC has to say about Kiva.org.



    Nick
  • Reply 9 of 106
    trumptmantrumptman Posts: 16,464member
    Quote:

    Originally posted by Chucker

    Just donated $25. $175 still needed.



    Chucker rules.



    Nick
  • Reply 10 of 106
    chuckerchucker Posts: 5,089member
    Why thank you.
  • Reply 11 of 106
    brbr Posts: 8,395member
    Sarah is now $25 closer to getting that new acreage.
  • Reply 12 of 106
    chuckerchucker Posts: 5,089member
    Awesome
  • Reply 13 of 106
    trumptmantrumptman Posts: 16,464member
    BR rules.



    Nick
  • Reply 14 of 106
    melgrossmelgross Posts: 32,959member
    Quote:

    Originally posted by trumptman

    Simply click on the link above called Kiva 1.



    Here it is again. Business number 600.





    Kiva 1



    Nick




    This is to Sarah, I'm assuming?



    I just popped $50 through my Paypal account. It's odd to see my account with the Kiva page surrounding it.



    But the business number said 431.
  • Reply 15 of 106
    chuckerchucker Posts: 5,089member
    This really rockz. In a matter of hours, we have almost completely covered her.
  • Reply 16 of 106
    melgrossmelgross Posts: 32,959member
    Quote:

    Originally posted by BR

    Sarah is now $25 closer to getting that new acreage.



    I'm hoping that this isn't screwed up. My page with Sarah said that she needed the money to send her 5 kids to school!



    Well, we'll see.



    My wife, as an attorney for CitiCorp. work on these micro-loans for the UN. She was recently invited to a dinner there, as she is every year, on their behalf. Those loans work very well.
  • Reply 17 of 106
    trumptmantrumptman Posts: 16,464member
    Business #600, Sarah is now fully funded. You guys are awesome.



    Unfortunately, the evil chucker decided to fund loan number 601 and I couldn't let him have all the fun. I had to match it.



    Could you guys please do me the favor of being...double awesome?



    Nick
  • Reply 18 of 106
    trumptmantrumptman Posts: 16,464member
    Oh-oh... only half awesome at this point. Someone took their money back out of the basket.



    Nick
  • Reply 19 of 106
    chuckerchucker Posts: 5,089member
    Not to be paranoid, but why does Sarah not show up as fully funded any more? $75 still needed, it says. Maybe just a matter of caching, though.



    (edit) Ah, yes. The basket got smaller. Can someone explain this basket thing to me?
  • Reply 20 of 106
    chuckerchucker Posts: 5,089member
    It's back to fully funded now. On to 601 and 592, folks.
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