Have anyone use Kiva before? It’s a site that allows you to give micro-loans to people from poor countries who are in need.
Is it effective in helping those people? Are there any catch in using them?
I put a test sum of $25 into Kiva a couple of years ago, and have loaned it out to I think three different people now, and I have no complaints. As far as I know, the money is used by people who need it for things they need to make their lives better. I haven’t encountered any catches so far.
I’m a kiva.org supporter. I just finished my 15th loan and I’ve been repaid over and over. I’ve loaned all over the world and I feel better every time I make a new loan.
I think it’s a good idea, and so far, haven’t found any drawbacks. It’s an idea that wouldn’t be possible without the Internet and worldwide communication.
Do the loans get repaid with interest, or is it more for the charitable sense of giving that you give the loans?
I’ve always wondered about that- do people use it to make $$ or more just for the fun and sense of helping others out?
The loans usually get repaid – Kiva sees to that – but the donors/loaners do not receive interest. Once the loan is repaid, you can use the same capital to loan to someone else of your choice.
My daughter (BloodyL) put in 25 dollars several years ago and has cycled a few times, always being paid back. She loves it. I personally think it’s a wonderful idea too.
A local story on an equivalent facility that the Australian government set up for survivors of the 2004 tsunami:
No complaints here. My husband has been using it for quite a while and I’ve just started. It’s not an investment, in that you’re not going to make any money out of it, but it’s a great way to help people without having to put out too much money. Yeah, there’s a risk I may never see my money again, but in that case it’s like I just plain donated to charity, and I’m ok with that. As it’s been going, though, we’ve been able to help a dozen people with the same $50, and I think that’s great.
OK, you’ve got me inspired - I’ve been meaning to do this for a while. I’ve just made donations for Iraq, Cambodia, the Philippines and Pakistan (knowing that this is really just backfilling the loan, but still). Will be interested to see how this pans out, and something to talk to my girls about as they get a little older. We gave bees through Heifer for Baby From Mars #1 for Christmas, and were able to talk to her a little about what that was all about.
I am a little suspicious. I am a certified expert in Anti-money Laundering. I offered to volunteer. They didn’t even bother to get back to me.
Why would such a org not want the free services of a certified expert?
Dunno, post what you sent to them and maybe we can find out.
I have participated with Kiva and never lost a dime. I believe they make it possible for someone to obtain a loan who otherwise could not.
My understanding of how my dollars go from me to the individuals receiving the loan is that Kiva provides either the direct capital or loan guarantee to an actual lender in this individuals country. This local lender completes the legwork, securing the paperwork on the loan and is tasked with collecting payments and in return, charges interest to the borrower. It’s a win/win for both parties and without Kiva the potential borrower may have nowhere to turn.
Their form for volunteering.
I like doing it because I can use the same 25 bucks to help lots and lots of people. I mean, it’s essentially free for me (if I wanted to I could take my money out) and helps people. What’s not to like?
Prosper.com is a for-profit site with the same micro-loan mentality. I think Prosper was actually started first.
You get interest. Lenders have the option of donating the interest to Kiva to help with operating expenses, but it’s not mandatory.
There are several Kiva threads on the Dope. I love it, it makes me feel good to make a loan. I have about 500 USD out on Kiva and am currently making my 85’th loan.
No, you don’t get interest. The borrowers pay interest to the local lenders, but it never makes it to you.
Still, I like it. I’ve used $75 to help 16 different people/groups so far.
Positive you included the “anti-”?