Help other entrepreneurs with free $25 Kiva loan

[diablo]

I'm a huge fan of Kiva, the website that allows you to lend small sums of money to aspiring entrepreneurs in some of the poorest countries in the world.

If you'd like to try it, Kiva is giving you the chance to make your first loan of $25 completely free.

You've nothing to lose and someone out there has everything to gain.

http://www.kiva.org/invitedby/george2975

 

[ChrisMM]

You've nothing to lose and someone out there has everything to gain.

Yeah, most likely the referring Kiva member who makes a $25 bonus for each new lender they invite to the Kiva community... [emoji57]

 

[newguy]

Yeah, most likely the referring Kiva member who makes a $25 bonus for each new lender they invite to the Kiva community... [emoji57]

That's not money that can be withdrawn. Kiva is well worth being part of.

 

[diablo]

Yeah, most likely the referring Kiva member who makes a $25 bonus for each new lender they invite to the Kiva community... [emoji57]

Sad response, but increasingly typical of what I expect on acorn today.

 

[ChrisMM]

Sad response, but increasingly typical of what I expect on acorn today.

I just think its good form to disclose any personal incentives when sharing referral links thats all.

Yes, Kiva is a noble cause, but you do stand to benefit personally from any new signups through that link. I just think its polite to mention that when posting.

 

[diablo]

I just think its good form to disclose any personal incentives when sharing referral links thats all.

Yes, Kiva is a noble cause, but you do stand to benefit personally from any new signups through that link. I just think its polite to mention that when posting.

Your comment says more about you than it does about me.

I actually wasn't aware that Kiva would give the referrer a free loan too when I posted the above, but that doesn't benefit me personally as you state.

What it does do is benefit two entrepreneurs instead of one. That is a positive not the negative you are trying to suggest.

 

[ChrisMM]

Ah maybe i'm being a little overzealous.

I just noticed the thread popped up within minutes of the Kiva mailer going out earlier thats all probably just a coincidence though I'm sure.

If you didn't read the email title or see the embedded image then i understand how you could have not been aware of the $25 bonus.

 

[diablo]

Ah maybe i'm being a little overzealous.

I just noticed the thread popped up within minutes of the Kiva mailer going out earlier thats all probably just a coincidence though I'm sure.

If you didn't read the email title or see the embedded image then i understand how you could have not been aware of the $25 bonus.View attachment 1095

Think you're just being an arsehole tbh, but that's just my opinion.

 

[newguy]

I just think its good form to disclose any personal incentives when sharing referral links thats all.

Yes, Kiva is a noble cause, but you do stand to benefit personally from any new signups through that link. I just think its polite to mention that when posting.

I see your point, but on the flipside it's worth remembering that the $25 is to give to someone on Kiva. It's not like you can remove and keep the money. In any case, I wonder if either free $25 even exists (and lots of kiva loans are pre-funded), it's just a viral way of getting people involved in something that makes a real difference to peoples lives and often doesn't cos much, if anything. Almost all of my kiva loans have been paid back. Everyone should get involved .

 

[martin-s]

I looked at the site, but I couldn't work out whether it's just a charity thing where you're a bit more personally involved, or an investment where you can put your money to work.

 

[newguy]

I looked at the site, but I couldn't work out whether it's just a charity thing where you're a bit more personally involved, or an investment where you can put your money to work.

It's a loan, where it's paid back over a period of time. I've lent to about 20+ individuals and only once did someone essentially default on it (there are different risk categories), but it's not really enough money to worry about.

 

[martin-s]

With or without interest though?

 

[Murray]

Sorry for the basic questions..

Do you choose who you want to give the loan to? or do you just provide the money and kiva pick where it goes

Do you get updates on how they're getting on?

What sort of people/stories have you loaned money out to so far Diablo?

Thanks

 

[newguy]

With or without interest though?

Without, but it's charitable in nature so that's not really something that entered my thinking. Also, you can donate small amounts, so you don't have to have staggering amounts of money tied up

 

[diablo]

Sorry for the basic questions..

Do you choose who you want to give the loan to? or do you just provide the money and kiva pick where it goes

Do you get updates on how they're getting on?

What sort of people/stories have you loaned money out to so far Diablo?

Thanks

You choose and you do get some updates / can see progress of repayments.

I typically lend to women and usually for either business or educational purposes.

Like newguy says, you don't get interest on loans made and I just recycle repayments into new loans every month.

But best thing to do is to take a look around the Kiva site for yourself and see what you think.

 

[spiderspider]

So I can opt to help people in the USA, yet I can't help those in the UK with this?

Is that correct?

 

[bonusmedia]

Kiva is great, but have to point out the facts:

Interest is charged on the loan by the Kiva 'partner' - and it could be 50% - however that is the only way micro-lending is sustainable, and it's not a bad thing, as these entrepreneurs will typically make a large % return

The money doesn't technically go to the person/profile you select - they were all funded months ago. The 'field partner' has the option to backfill the loans, or not. It isn't quite as direct as it appears, which in my view is a bit misleading.

That said I do lend on Kiva and think it's a very worthy cause. I've had a couple of defaults but since the start I must have lent out the original cash 6 or 7 times

 

[newguy]

Kiva is great, but have to point out the facts:

Interest is charged on the loan by the Kiva 'partner' - and it could be 50% - however that is the only way micro-lending is sustainable, and it's not a bad thing, as these entrepreneurs will typically make a large % return

The money doesn't technically go to the person/profile you select - they were all funded months ago. The 'field partner' has the option to backfill the loans, or not. It isn't quite as direct as it appears, which in my view is a bit misleading.

That said I do lend on Kiva and think it's a very worthy cause. I've had a couple of defaults but since the start I must have lent out the original cash 6 or 7 times

This about sums it up. I did mention to the loans being 'pre-funded' earlier, but I worried that going into detail might put people off, making them less likely to feel a connection to the person they choose to give their loan to. The big picture though is that in donating you are making a big difference at little sacrifice to yourself, so I agree with you that it's definitely a worthy cause!

 

[martin-s]

Interest is charged on the loan by the Kiva 'partner' - and it could be 50% - however that is the only way micro-lending is sustainable, and it's not a bad thing, as these entrepreneurs will typically make a large % return

Most of the loans I saw on the site were not what I would consider as "micro" - they were $1,000-5,000.

I don't buy into the whole "payday loans are a good thing" argument, so what's different about this?

The way I see it is if you want to give to charity, give. Don't fund lenders for free where they charge interest on your money.

Seems like madness dressed up as altruism to me.

 

[bonusmedia]

Most of the loans I saw on the site were not what I would consider as "micro" - they were $1,000-5,000.

I don't buy into the whole "payday loans are a good thing" argument, so what's different about this?

The way I see it is if you want to give to charity, give. Don't fund lenders for free where they charge interest on your money.

Seems like madness dressed up as altruism to me.

The lenders are micro finance institutions, they aren't out to make a fast buck, but to support entrepreneurship in economies where credit is virtually non existent. They are absolutely vital to development without handouts - starting a business without ANY access to finance (or any ability to save because you live hand to mouth) is virtually impossible.

Most of the bigger loans are to groups, not individuals.

I also hate payday loans but this is nothing like that. It has a massive positive impact.

E.g. lend someone $500 to dig a well - they can irrigate their crops and sustain themselves and their family for a lifetime - and easily afford to pay it back with interest because it doubles their income