Kiva loan :)

[cosmosgrove]

Aww my 14 year old son just happily paid for a Kiva loan out of his own money. I suggested it to him after showing him the one I did last night and he didn't hesitate to say yes.

Just a little bit proud that he did that :-x

[rabbitearbandicoot]

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@j*oono wrote:

Thanks Rabbit for bumping the thread.  It's always good to get more supporters.  Az, you said it so much better than me.

So they are funded by voluntary donations grants and corporate sponsors for the wonderful job they are doing.

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that's OK. Here's another bump.

I have been reading some more about kiva - it seems the corporate world donates MILLIONS to them too.

Let me just summarize:

kiva gets:

corporate donations x millions

personal loans from individuals x millions

personal donations from individuals x millions

funds from kiva cards x millions

- all of which go into kiva's bank which earns kiva INTEREST.

kiva pays NO INTEREST

kiva indemnifies itself from all bad debts - they are the money lenders responsibility.

kiva asks for volunteers all over the world to help THEM make millions more.

kiva pays no tax

in fact kiva pays NO-ONE except their ORGANISATION members.

kiva lends money to on-the-ground money lenders, 95% of whom have already lent to the borrowers anyway, so, that's a BIG help.

kiva ONLY funds those loans that have been fully funded by YOU so, nothing comes out of their 'pocket'.

kiva 'keeps' the proceeds from the not-fully-funded loans (in their lender's account) which strangely enough is THEIR BANK.

SWEET JOB.

[kopenhagen5]

And provides millions with opportunities they didn't have before. 

Rather sweet. 

[j*oono]

Very sweet.

Shortened version of a fist full of dollars.

[rabbitearbandicoot]

and what would you expect them to make a movie of? Sam in his BOAT or examining his bank statement?

[azureline**]

I expect them to make videos of the successes.

[j*oono]

I really like this part of an article by Cynthia Haven that I read.

It’s also cheering to see that you don’t have to be a millionaire to make a difference. Kiva’s approach brings to mind a popular parable derived from a Loren Eiseley story. An older man saw a young boy walking along the ocean at low tide. The child was eagerly picking up beached starfishes and flinging them out to sea. “Son,” said the older man, “every day there are hundreds of starfishes stranded on the beach at low tide. You’re never going to make a difference.” The child lifted another starfish and threw it out to sea. “Made a difference to that one,” he replied.

[cosmosgrove]

Rabbit, Charity Navigator is a great site for checking out charities before choosing to donate. Kiva has been awarded Charity Navigator's highest rating and has had it for quite some time now. It's a transparent organisation and I'm not sure if you are aware but you can withdraw your money once it's paid back if you wish.

The large donations from companies often seem to fund 'free loans' these are sometimes available for people to trial Kiva without risking their own cash, it's probably a very successful way to get people involved.

http://www.charitynavigator.org/index.cfm?bay=search.summary&orgid=12978#.VST93Lr7I_o

[j*oono]

Good site Cosmosgrove.

[cezm]

Agreed j*oono

I've just been having a look at my stats on kiva

My Loans by Status

All Fundraising Funded Paying Back Paid Back Ended With Loss Refunded Expired

71

0

0

24 (7 Delinquent)

35

9

1

2

I have had approx $45 (a couple of weeks of takeaway coffee!) that hasn't been repaid which comes to about 2.5% (I think!) of what I have loaned/reloaned - considering the strife in some of the countries I have chosen, I am happy with that outcome - and pleased that I have been able to assist so many people in the 2+ years since I joined.

rabbitearbandicoot wrote:

I'll bet Sam Mankiewicz lives in a multi-million dollar mansion in California

I'm not sure why Sam Mankiewicz (responsible for IT) has been singled out by rabbit but I found the experiences of many of the team interesting reading.

http://www.kiva.org/about/team

[serendipityricho]

I need to borrow 5 grand in a hurry.

Should be able to pay it back ..after race 7...............................Richo.