ForumGarden

Kiva - Loans that change lives

This website is a loan organization that makes microloans to help poverty-stricken people start their own business, to bring themselves out of poverty. You put money into PayPal and decide who gets your money. The recipient pays you back, then you give to someone else.

I think it's a great idea!

Accountable;1416035 wrote: Kiva - Loans that change lives

This website is a loan organization that makes microloans to help poverty-stricken people start their own business, to bring themselves out of poverty. You put money into PayPal and decide who gets your money. The recipient pays you back, then you give to someone else.

I think it's a great idea!
Are you paid interest on the loan?

I think it's a great idea. I first heard of it when I was looking to donate an old mountain bike. A local bicycle shop was filling a shipping container with the donated bikes and Kiva was arranging donations. The goal was to ship the bikes to a village in Africa and a volunteer from the bike shop would go along with them and teach some locals how to fix bikes and open their own bike shop there. Someone from the newly formed shop would then teach some other folks in a different town/village when the next container of bikes was collected here.

Interesting concept - I'll dig.

Lets pick one to do

YZGI;1416039 wrote: Are you paid interest on the loan?


"Kiva itself does not charge any interest rates on its loans because instead, they give it to microfinancing institutions for free. These microfinancing institutions then lend out money with very high interest, averaging over 30%."



http://en.wikipedia.org/wiki/Kiva_(organization)

Just saying......

Lady J;1416069 wrote: "Kiva itself does not charge any interest rates on its loans because instead, they give it to microfinancing institutions for free. These microfinancing institutions then lend out money with very high interest, averaging over 30%."



http://en.wikipedia.org/wiki/Kiva_(organization)

Just saying......
I checked the citation link. There was nothing there about interest at all. That's why you can't take Wiki at it's word.

http://www.kiva.org/about/supportus/supporters/services

flopstock;1416065 wrote: Lets pick one to do
I don't have a PayPal account. Makes me nervous.

How Kiva selects its Field Partners

Kiva seeks to partner with a range of organizational types, including microfinance institutions (MFIs), social businesses, schools and non-profit organizations. When selecting our Field Partners, we favor organizations that excel in:

Client protection, especially regarding the prevention of over-indebtedness, fair and transparent pricing, good collection practices and the security of client information

Targeting and outreach that ensures vital services reach the unbanked, the under-served and the poor

Innovative loan products, savings and non-financial services specifically tailored to the needs of the target group

Measuring outcomes in the lives of client borrowers and savers

Many of our partners are chosen because in addition to lending money, they also offer services such as savings, financial literacy training and empowerment programs.

How Kiva Works, Simplified | Kiva

Another organization with similar intent:

https://www.zidisha.org/