Has Anyone Loaned $$ on Kiva?

[Catweazle]

Kiva: make a loan, change a life so they say.

Has anyone tried Kiva.org before and, if so, what have your experiences been?

Do people actually pay back the loan over time? How long? Or might we consider it a donation and if they pay it back, well good then, but if not, well 'happy birthday' to them?

Dare I ask if this is a method of churning? Or does that just sound greedy?

No idea really, so asking for your thoughts and ideas and opinions about this. What do you know of it? Have you used it before? Or you familiar or unfamiliar with it?

 

[VPS]

I’ve been a Kiva donor for many years. I think there’s only one loan that was defaulted for maybe three or four dollars.

My latest donation was for women. (I tend to donate to women in agriculture) who were farming, cacao beans.

I don’t want the world to run out of chocolate.

Seriously, I think it’s a great organisation. If you have any further questions, let me know.

 

[burmans]

I’ve been repaid a number of times but frankly I’m not overly bothered. In my view it’s better than a donation as it goes direct to individuals in need rather than in charity admin or paying those spruikers we see all the time.

 

[bam71]

Same, haven’t had a default, not that we’d care. Mostly donate to women as well.

 

[Mwenenzi]

Been a lender for many years. Over 300 loans and over $9000 in total
Do not churn with credit card (funds in, funds out, funds in etc). Have not added funds for over 5 years
Only loan to farming and individuals (not groups). Mainly in Africa. (as my screen name from East Africa)
My default rate 1.27%
Avg Kiva default rate 1.82%
My currency loss rate 0.84%
Avg Kiva currency loss rate 0.49%

 

[drron]

I started lending in april 2007. All up I have put $600 in and have just made my 400th loan = $10000 lent. have had a few defaults and so my total now is $450.
Mainly lend to poorer countries in Asia and Africa plus South pacific countries. A total of 36 countries that I have lent to. Mainly agriculture and 75% to women.

 

[Catweazle]

Been a lender for many years. Over 300 loans and over $9000 in total
Do not churn with credit card (funds in, funds out, funds in etc). Have not added funds for over 5 years
Only loan to farming and individuals (not groups). Mainly in Africa. (as my screen name from East Africa)
My default rate 1.27%
Avg Kiva default rate 1.82%
My currency loss rate 0.84%
Avg Kiva currency loss rate 0.49%

Ok, so my understanding is that you can use a credit card to load funds (similar to Paypal) and then those funds can stay on the system as long as you are a member, like a little kitty bag, and when the loan is paid back then you can loan it again. Is this correct?

 

[VPS]

Ok, so my understanding is that you can use a credit card to load funds (similar to Paypal) and then those funds can stay on the system as long as you are a member, like a little kitty bag, and when the loan is paid back then you can loan it again. Is this correct?

You just choose someone you want to lend to and then lend them usually $25 and then you pay that (they usually like to add a bit for admin fees but you can just ignore that)

As the money is repaid you will see it comes in and eventually you will get back your $25 and relend it. I tend to have several on the go and if I've got $20 credit might just add another $5 and relend it.

I just checked and I've been lending since 2009. I really dislike consumerism and presents so if anyone wants to buy me anything I usually just ask them to donate some money to Kiva for me

 

[carls888]

I love Kiva. We have been donating to it for years. We usually lend to women in Africa or Asia as it's difficult for them to lend money due to their gender. I have had all loans repaid. Some take a year or so, others a few months. The only money lost has been currency conversion, so I top it up every 6 months or so to make up for that. I think we loaned $1000 originally and it has financed many people.

 

[pangwen]

Like others here, I have used Kiva for many years too. This thread has just given me a reminder to check my account and re-lend my available balance.

Just checking my stats:
- First loan in March 2010
- Amount lent: $4075 (over 158 loans)
- Amount repaid: $3795.19
- Amount lost: $75.76 (of which $48.44 is defaults, and the remaining $27.32 is currency loss)

 

[randompunter]

I wouldn't worry about defaults; over $825 lent (33 loans) I have lost $14.50 to defaults or about 2%. Lost another $5 or so to currency conversion).

Definitely recommend giving it a go.

 

[ellen10]

Wow I have never heard of Kiva.

I donate to a few local charities and food banks. But this sounds like a wonderful idea. So who administers getting the money to the people?
I guess I should investigate it more.

 

[anyonebutqantas]

Sounds much more productive than donating to our corporatised, commercialised official charities in Australia like Oxfam etc which just splurge on marketing and excessive salaries for 'CEOs' and other managers.

 

[CMA222]

Sounds much more productive than donating to our corporatised, commercialised official charities in Australia like Oxfam etc which just splurge on marketing and excessive salaries for 'CEOs' and other managers.

A few years ago I ran into a few people from Oxfam at the F lounge in Sydney. Whether they spend a lot on domestic flights and earned status or had F lounge passes of some sought or maybe even some form of contra, I am unsure, but I thought it did not seem consistent with Oxfam's objectives to be using their resources to access the F lounge. Kiva looks like a better use of donations.

 

[VPS]

This is another charity you might be interested in looking at

GiveDirectly – Send money directly to people in need.

www.givedirectly.org

 

[Kiwi_Flyer]

Been a lender for many years. Over 300 loans and over $9000 in total
Do not churn with credit card (funds in, funds out, funds in etc). Have not added funds for over 5 years
Only loan to farming and individuals (not groups). Mainly in Africa. (as my screen name from East Africa)
My default rate 1.27%
Avg Kiva default rate 1.82%
My currency loss rate 0.84%
Avg Kiva currency loss rate 0.49%

Mine stats are similar on a larger number of loans. Slightly higher default rate as I accepted some higher risk loans that I felt were worthy recipients of being funded.

 

[pagingjoan]

Seems we need an AFF chapter of Kiva.
Another long term supporter here.
As with several others who have posted, I support women, particularly in agriculture and for educational projects.
It is an inspiring organisation, and, while it has changed a bit over the years and has become a little more "corporate", I believe it still does great work.