Kiva.org microlending charity - Join the atheist group!

[Libertarian]

http://www.Kiva.org is an awesome charity group. You're basically facilitating microlending to support low income entrepreneurs..people who need loans ranging from $100 to a few thousand in order to finance their projects. Once the loan is paid back, you can loan the same funds again to someone else, helping many people over time with the same initial investment. One cool thing about the organization (and the reason I'm posting it here) is that you can join any group of your choice, and the donations you make for the charity count toward the group's total. As of now, the atheist/agnostic/freethinkers group is by far the largest on the site with 15,000 members (nearly twice as big as the Christian group)

http://www.kiva.org/community
http://www.kiva.org/team/atheists

Groupon.com also has a deal going today where you get $25 of Microloan credit at Kiva for $15. This is a nice discount to get you started. :)http://www.groupon.com/deals/kiva-natio ... source=rvs

If you've got a few bucks to spare for a good cause, join your fellow heathens and let's make the world a better place.

[Feck]

How much interest do I get back on my loan ? I mean Vietnam is a long way to go to break someone's legs personally so debt collecting costs could be high .

[Libertarian]

It's a charity you silly goose. The interest goes to help Kiva run the organization. But you can always withdraw your initial contribution if you really need it.

[Santa_Claus]

It's a charity you silly goose. The interest goes to help Kiva run the organization.

Not strictly true, some of the underlying NGO's (who do the on the ground lending) charge very commercial rates. Not to say that is a bad thing, but I would prefer at least 1% coming back to the lender, for competetive reasons betwwen groups / indiviuduals - but accept that the paperwork and costs for Kiva would then increase out of all proportion.

Although I can't prove it, I suspect that some of the NGO's engage in a bit of massaging of the repayments (from profits from other loans) to remain as good lenders from Kiva - the level of repayments are just too good, leaving aside that they are picky over the borrowers......but that is all good for me.

But you can always withdraw your initial contribution if you really need it.

that's why it's part of my firm's CSR

[maiforpeace]

I wholeheartedly agree with you, Libertarian. KIVA rocks!

I've been lender to KIVA for years and am a member of the atheist group, what's your name there?

If anyone who reads this is truly interested in starting a KIVA account but doesn't have the money, PM me. I just got notice that I have several hundred dollars in repayments that are now KIVA credit that I will be recycling back into KIVA loans, and I'd be happy to make $25 of that a gift certificate for you to open your first account if you don't have the money. Later on, if you decide Kiva isn't your bag, you can withdraw the money when it's paid back and you can have $25 on me. First person who asks, gets it.

There will be a New Years Loan-a-thon coming up, and you can make your first loan with the gift certificate!! We have a lot of fun on the board that day, and it's a great competition with the Christian group...we blow them away every time!

[Libertarian]

I found this info on the Kiva site. It turns out they don't charge any interest at all. They survive strictly through donations.

Does Kiva make money off of this interest that borrowers pay?

No. We pass 100% of the money you lend on Kiva to the local Field Partner who administers your loan to borrowers -- we do not charge interest and we do not take a cut.
Kiva pays for its operations by relying on Kiva Lenders like you to 'tip' us each time you make a loan. Last year, your tips covered approximately 70% of the cost to run Kiva, a 501c3 non-profit.

So are Kiva Field Partners making profits on loans?

Like Kiva, approximately 80% of our Field Partners are not for profit organizations. The other 20% are for-profit institutions with a strong social mission.
Despite the higher interest rates that our Field Partners charge overseas, as a whole they are barely breaking even. For Kiva's entire portfolio, the Return On Assets (ROA) across all of our Partners is approximately 0%. Most of the interest and fees charged to borrowers are going to support the cost of supporting the lending itself.

It costs more to loan money in the Developing World than we were used to in the West. This is due to two main reasons:
1. The lack of infrastructure in the developing world makes operations more expensive.
2. The costs of administering smaller loans in the developing world (<$1000) is going to be a larger percentage of the loan

Other factors like population density in the countryside and local inflation rates can also greatly increase costs of offering loans in the Developing World.

I wholeheartedly agree with you, Libertarian. KIVA rocks!

I've been lender to KIVA for years and am a member of the atheist group, what's your name there?

I'm one of the anonymous people.

[maiforpeace]

I wholeheartedly agree with you, Libertarian. KIVA rocks!

I've been lender to KIVA for years and am a member of the atheist group, what's your name there?

I'm one of the anonymous people. [/quote]

That's no fun, identify yourself!!!

[Chuck Jones]

Yeah! Let's troll them!!!!!!!!!!!!!

[maiforpeace]

Yeah! Let's troll them!!!!!!!!!!!!!

Why Chuck, you are already slacking. I offered you the opportunity to do it by giving you a gift certificate if you asked for it, but you're too late. Now you will only be able to troll them if you fork out $25 of your own.

[Libertarian]

Hey folks, please help this group out by posting the link on other atheist forums/blogs you visit. It's a damn good cause, and not only does each person who joins help make the world a better place, but they also go a long way towards informing the masses that atheists aren't the selfish/self-centered/hopeless individuals that many stereotypes have made us out to be. The success of the Kiva atheists should dispel the myth that treating people with respect requires belief in the reward vs punishment mentality that theists seem to cherish so much.

http://www.kiva.org/team/atheists

We actually do good for goodness sake.

[RuleBritannia]

Christians must be doing a lot of praying to make up that short fall against the atheists and agnostics.