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Post by Deleted on May 18, 2017 20:54:27 GMT
I felt the need to mark the moment formally as the good will and charity of forum members through KIVA has reached the notable landmark of $1000 KIVA allows people to lend money to low-income entrepreneurs around the world, helping to alleviate poverty through non-profit loans. You could say it is the charitable equivalent of P2P and the perfect fit for the members of this forum. A special thanks to Neil_P2PBlog who brought the cause to the attention of the forum and thanks to all those who've contributed towards this fantastic total, in no particular order please pat yourselves on the back, pom , ablrateandy , @leopardcat , charles , wengyeeRelendex, alanp , @bobo , Dave, Kyle, Gary, Gareth (sorry don't know your forum tags) and not forgetting Anonymous!! Onwards and upwards, it would be fantastic if anyone else feels this is a charitable methodology worth contributing to, the team page is www.kiva.org/invitedto/p2p_lenders/by/jester |
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Post by gidoppp01 on May 19, 2017 6:35:06 GMT
Nice one jester. I have a few questions: 1) What are the aims of p2plenders on Kiva and how do you pick borrowers? 2) Kiva borrowers do pay interest on loans but their lenders do not receive interest, would you still call it a charitable act? For example, a loan of $2000, the borrower repays $2263 in total after 20 repayments. |
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Greenwood2
Member of DD Central
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Post by Greenwood2 on May 19, 2017 7:01:24 GMT
You, (hopefully) get your capital back. I believe fees go to local agents who collect payments.
Pick whoever you fancy helping.
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Post by Deleted on May 19, 2017 8:13:41 GMT
Well someone has to go out to meet people, do some diligence on them, and they need to eat. Kiva itself keeps going by asking for contributions While defaults will erode the capital base. But you get to keep your cash in $$$$dollars$$$$ so as £ fades to the bottom of the pile there is always a capital exchange rate opportunity  How do you choose? Read the detail, challenge their thinking in your head. My choices tend to focus on helping women rise out of poverty and into education, though I struggle with paying for "University" outside their own country (just my opinion). Women out of poverty gives them time to learn and bring up their kids into education, and kids into education is the right way for the planet to go. Once education kicks in, family sizes fall and the pest that is overpopulation is slowed down or stops. |
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pom
Member of DD Central
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Post by pom on May 20, 2017 17:49:18 GMT
Woohoo! $1175 now thanks to a generous new member! (Well it'll be 1200 once my repayment top up filters through)
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Post by Butch Cassidy on May 20, 2017 19:26:56 GMT
This model of giving appeals to me as you get to choose the recipient of any money directly, rather than funding some over paid "traditional charity" management bureaucracy that pay themselves very handsome salaries & pension contributions before any money filters down to those in real need. I regard the money as a donation but any that is repaid can be recycled into further loans thus benefiting more individuals that are striving to improve themselves, their families & their communities. As @bobo points out, the fact they have to pay interest essentially funds the infrastructure of loan model & gives these aspiring entrepreneurs a fair & realistic business deal that otherwise is simply not available to them.
Quite honestly I struggle to see many flaws in this model which encourages & enables those less well off than many forum members to better themselves through their own endeavours - what's not to like.
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Post by Deleted on May 28, 2017 19:01:52 GMT
Nice one jester . I have a few questions: 1) What are the aims of p2plenders on Kiva and how do you pick borrowers? 2) Kiva borrowers do pay interest on loans but their lenders do not receive interest, would you still call it a charitable act? For example, a loan of $2000, the borrower repays $2263 in total after 20 repayments. Hey gidoppp01, as for the aims of p2plenders it really is only a way to collate the individual lending choices of members of the forum, to show our total impact through which I hope others will be attracted to the site. I am very pleased 17 people from the forum have currently signed up and lent to 62 great causes. The question of whether Kiva borrowers pay interest, if their loan is directly with Kiva they don't pay any. Kiva however do work with field agents around the world to enable them to lend so widely, these field agents do charge interest to allow them to function, Kiva limit this charge and it is shown for every borrower on the site. Kiva do not charge these field agents any fees and are funded solely from donations and grants. Personally I feel there are two types of charity, those who need immediate emergency donations eg famine, warzones, natural disasters. Then there is helping people to help themselves which I am also a huge advocate of, making finance at little or no interest available to allow them to improve their well-being is in my opinion charitable with the advantage that the money can be used over and over as it is repaid to assist with other great causes.
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Post by Deleted on May 28, 2017 19:09:19 GMT
I started this post 10 days ago to mark p2plenders passing $1000 lent to great causes ..... I am amazed and thrilled that in that short time our forum members total has jumped to in excess of $1500There is no doubt each and every one of us joined this forum with the intention of increasing our own personal wealth or producing an income from our p2p investments, so it is simply fantastic in my opinion that this same group of people are making such a change in other peoples lives through charitable p2p lending. Thanks again to everyone I've thanked before and welcome Butch Cassidy , dilbert and Cisnes For anyone interested in KIVA and joining the p2plenders group - www.kiva.org/invitedto/p2p_lenders/by/jester |
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Post by Deleted on Oct 11, 2017 9:50:00 GMT
Nice to able to report back that I've had no defaults  yet. |
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Post by ablrateandy on Oct 11, 2017 10:30:33 GMT
Well if you listen to the naysayers on Brexit, it's not long until we are a third world country. At that point, Kiva will doubtless start offering property development loans in Cumbria  |
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Post by Deleted on Oct 11, 2017 11:30:11 GMT
Kiva is already offering loans in the US, which I tend to avoid.
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pom
Member of DD Central
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Post by pom on Oct 11, 2017 11:53:07 GMT
Make that $2775 now that I reinvested my repayments, on top of a veritable shopping spree by our newest member.
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Post by buttchopf23 on Oct 13, 2017 22:12:27 GMT
Just put my first 25 to work for team jester alongside a 3.75 donation to kiva (what do you set there normally?)
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Post by martin44 on Oct 13, 2017 22:24:36 GMT
Just put my first 25 to work for team jester alongside a 3.75 donation to kiva (what do you set there normally?) Did mine yesterday... or was it the day before?.. never mind.. a good cause .
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Post by buttchopf23 on Oct 13, 2017 22:26:17 GMT
absolutely. I will pick some more in the coming days.
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yet.
