Good news from kiva.org

[Catshrink]

All of their loans have been funded and they're looking for more people to lend to. From their website:

www.kiva.org

Thanks Kiva Lenders! You've funded EVERY loan on the site!! To date, Kiva has enabled lenders to send $57,438,685 to the working poor around the world.

Currently, we are experiencing a traffic spike and all previously fundraising loans have been fully funded. Our team is working with Kiva's Field Partners around the globe to approve new loan applications every day.

Kiva's Field Partners post new loans for funding on an hourly basis.


It's amazing how microloans have taken off and given poor people a chance to improve their lives. Once more loans are posted, and if you decide to lend, we have a Democratic Underground team. Join the team before you make the loan and your loan is credited to DU. To date, we have 12 members who have had 24 loans count for a total of $600.

:woohoo:

[Hawkeye-X]

1. Can I get a loan of $100 for poker next weekend.

$50 buyin @ a private tournament Saturday, and then $20 buyin at a deaf club on Super Bowl Sunday.

[Catshrink]

3. Nah...

why don't you ask that douchebag with the $1400 trash can.

[rwheeler31]

2. Wow keep doing good.

[Warpy]

4. That happened quite a bit last fall

leaving me with beaucoup paid back money and no place to spend it. I've since relent the whole of it.

The Kiva groups are really getting things done quickly there. I'm still hanging out on my own, though.

[Catshrink]

8. Just curious...

what do you look for when you decide whom to lend to? I look at the default rate for the field partner and what the money would be used for. I've looked at the interest rates the field partner chooses compared to the local loansharks but I'm not sure how to interpret that. 35% interest seems so high -- but when the local lenders charge 100% it doesn't seem so bad.

Most of my loans have been for agriculture. Others were for auto repair, appliance repair, textile arts, and a used clothing shop.

[Warpy]

10. I look for length of loan

and try to keep a mix between short and long term loans. I also try to keep a national mix going on.

I'm a total sucker for fellow weavers, of course, but I lend to both men and women and a variety of businesses, both individual and group.

[Catshrink]

11. That's a good idea.

We may need microloans in the US given the way job losses are going.

[WolverineDG]

9. There's a DU group on Kiva

feel free to join!

dg

[BrklynLiberal]

5. That is fantastic.

[soothsayer]

6. this is cuz they bow wisely let us reinvest as the laons are repaid, not

at the end of the loans. proud to be a part of it!

[Catshrink]

7. I'm really loving it!

I was talking about it at lunch with my teacher colleagues. The econ teacher thinks it's great and wants to incorporate a lesson/unit on microlending into his course next fall.

It is really exciting to see the loans being repaid and read the stories of the people working hard to better their lives.