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Post by Deleted on Oct 21, 2017 9:32:13 GMT
Looking back to May this year I was posting to mark the passing of the $1000 mark lent to great causes by a small collection of forum members. I'm thrilled now, to follow that up with the group seeing a continually growing number of contributors, which has seen a recent unexpected flurry of new lenders. Alongside existing forum members, this has pushed the total past $3000! We really are making a difference to lives who couldn't dream of lingering around in forums investing their personal wealth in P2P. I feel pride in everyone who has seen the huge benefit of KIVA, without doubt the charitable equivalent of P2P lending. Through reinvesting repayments and a growing membership our impact becomes greater and greater. A few statistics from our P2P Lenders Team $3125 Lent
125 Loans Made
Causes in 42 Countries Supported
Most Investment made in Cambodia with 20% of totalKeep up the fantastic work, Neil_P2PBlog , pom , ablrateandy , amphoria , @leopardcat , charles , wengyeeRelendex , alanp , @bobo , Butch Cassidy , dilbert , fp , martin44 , buttchopf23 , dave, kyle, gary, gareth, cisnes, martini and our most famous members 2 x Anonymous Despite the recent growth in members I'm greedy on behalf of the amazing causes, if anyone is interested in joining us you can sign up here www.kiva.org/invitedto/p2p_lenders/by/jester |
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Post by deddington on Oct 21, 2017 11:07:21 GMT
Hi jester
I only noticed your thread recently and as I was not in a team joined yours. (Martini)
I have been lending on Kiva for 10 years and I post my stats (below).
As you can see my bad debt, over 10 years, is a minimal 0.26% ($15.21)
I wish I could say that my lending on PtoP in the UK over the same period was as low.
Considering that the people we are lending to are struggling in third world economies I am always amazed at how conscientious they are at paying back their loans.
Amount lent $3,275.00
Amount repaid $2,712.99
Amount lost $15.21
Amount refunded and expired $100.00
Delinquency rate 0.26%
Amount in arrears $1.15
Outstanding loans $446.80
Default rate 0.23%
Amount defaulted $6.08
Amount ended $2,600.00
Currency loss rate 0.28%
Amount of currency loss $9.13
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Neil_P2PBlog
P2P Blogger
Use @p2pblog to tag me :-)
Posts: 355 
Likes: 209
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Post by Neil_P2PBlog on Oct 21, 2017 13:34:38 GMT
Hi jester I only noticed your thread recently and as I was not in a team joined yours. (Martini) I have been lending on Kiva for 10 years and I post my stats (below). As you can see my bad debt, over 10 years, is a minimal 0.26% ($15.21) I wish I could say that my lending on PtoP in the UK over the same period was as low. Considering that the people we are lending to are struggling in third world economies I am always amazed at how conscientious they are at paying back their loans. Amount lent $3,275.00 Amount repaid $2,712.99 Amount lost $15.21 Amount refunded and expired $100.00 Delinquency rate 0.26% Amount in arrears $1.15 Outstanding loans $446.80 Default rate 0.23% Amount defaulted $6.08 Amount ended $2,600.00 Currency loss rate 0.28% Amount of currency loss $9.13 I think part of the reason for the low default rates are that the intermediaries absorb the bad debts to encourage ongoing investment.
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Post by Deleted on Oct 21, 2017 15:14:43 GMT
deddington it's fantastic to have you on board. A shame your previous lending isn't added to our total but perhaps instantaneously doubling the impact with previous loans would be over the top! I realise you were lending on KIVA a long time before our group formed, but despite obviously not introducing you to the platform, I feel having established members such as yourself will assist greatly in our ongoing impact totals as you reinvest. It is these combined impacts that I hope will be and are currently inspiring others, including myself, to continue using the platform or sign up to it afresh when they see the collective difference that is being made!
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Post by deddington on Oct 22, 2017 17:25:53 GMT
Neil_P2PBlog
I had not considered that but you are probably right and it has kept me lending.
Jester
Thanks for the warm welcome and yes it's a shame they don't include my previous lending in the team stats.
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Post by carol167 on Oct 23, 2017 14:22:06 GMT
Well I've just signed up and made my first loan - to someone needing a new canoe in Samoa for her fishing business.
:-)
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xtab
Posts: 41
Likes: 34
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Post by xtab on Oct 28, 2017 19:48:39 GMT
I've joined your group too and made some loans. I was initially a bit taken aback at the interest rate some borrowers have to pay to some of the Field Partners. Perhaps naively I thought their rates would all be low. After a lot of follow up reading, I'm prepared to accept Kiva's explanations - and I did also find some where the interest rate was a much more reasonable 8%. It's certainly interesting - so many to choose from. And there is a bit of a feelgood factor to it too. I hope others hear your message, jester and come on board. |
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Post by Deleted on Nov 1, 2017 8:53:38 GMT
carol167 and xtab welcome on board, every new signup to the group is incredible as I feared this would never catch on, yet still the collective impact grows and grows. I understand the underlying interest rates charged by field partners doesn't naturally rest easy but these still provide finance to entrepeneurs with absolutely no alternate access to finance and I feel it is still amazing work. The field partners need to fund their existence and without them Kiva wouldn't have the extensive reach they currently do. There are many loans provided direct from Kiva with zero interest charge if that feels preferable. Here's to many more canoes and equally lifechanging crowdfunded purchases.
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ceejay
Posts: 975
Likes: 1,149
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Post by ceejay on Nov 1, 2017 9:41:56 GMT
Well I've just signed up and made my first loan - to someone needing a new canoe in Samoa for her fishing business. :-) Without wishing to put a dampener on a worthy process, you really ought to know that you have done no such thing. The person needing the canoe will have been lent the money by a Field Partner some time ago ... and, if you think about it, there isn't really any other way that it could actually work. What you have done is to provide capital which will allow the Field Partner to keep operating and make more loans of this type. It would be nice if KIVA could find a way of being slightly more open about the way their system works, though I guess that people don't naturally handle complexity very well and they get more lenders this way!
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Post by carol167 on Nov 1, 2017 11:15:39 GMT
Well I've just signed up and made my first loan - to someone needing a new canoe in Samoa for her fishing business. :-) Without wishing to put a dampener on a worthy process, you really ought to know that you have done no such thing. The person needing the canoe will have been lent the money by a Field Partner some time ago ... and, if you think about it, there isn't really any other way that it could actually work. What you have done is to provide capital which will allow the Field Partner to keep operating and make more loans of this type. It would be nice if KIVA could find a way of being slightly more open about the way their system works, though I guess that people don't naturally handle complexity very well and they get more lenders this way! Yes, but, since I am the one that will loose out if she does not repay the loan - it is still effectively my money.
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Post by Deleted on Nov 1, 2017 13:54:10 GMT
Not sure that that is always the case - I have pledged on loans which were not fully funded and the cash returned to my account,so maybe those people were unsuccessful in getting funding. Only started Kiva when it was highlighted on the forum so maybe I am wrong. me too, some deals just don't make it to the start line
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Post by Deleted on Nov 12, 2017 18:33:53 GMT
More and more Forumites are making a simple gesture towards the poor of the world by lending via Kiva, relatively small sums can make a difference and $25 is the minimum you can lend (paypal will sort out the exchange for you). Poverty can be alleviated most readily by empowering women and elevating their productivity by education, delivery of clean water or just the cash to start a business. Kiva gives you ready access to lend to these women.
Come join P2PLenders on Kiva.org
We are almost up to £4k today, come help us to break through that figure!
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Post by Deleted on Nov 20, 2017 13:19:06 GMT
Thanks someone we just smashed through the £4k barrier. Well done. Onwards and upwards.
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pom
Member of DD Central
Posts: 1,922 
Likes: 1,244
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Post by pom on Nov 20, 2017 15:41:57 GMT
Thanks for the reminder @bobo , just recycled my repayments...
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Post by Deleted on Nov 27, 2017 15:32:38 GMT
Just passed $4200, any chance of adding to make it $5k by the year end?
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