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Kiva: Crowd sourced micro loans

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  • dylerpillar
    Freelance Writing and Editing Unprofessional
    • Aug 2008
    • 2214

    Kiva: Crowd sourced micro loans

    Moving along from Kickstarter, a friend alerted me to this other enterprise, Kiva.

    We are a non-profit organization with a mission to connect people through lending to alleviate poverty. Leveraging the internet and a worldwide network of microfinance institutions, Kiva lets individuals lend as little as $25 to help create opportunity around the world.

    Rather than link you to any specific cause on there, it's best to let you have a look and decide for yourself. Anybody who wants an invite, shoot me a private message with your e-mail addy--I could build some reputation and credit for getting people on board.
    Thick as wind-blown leaves innumerable, since 1985
  • L'Etranger
    Veteran Moorcockista
    • Dec 2003
    • 4772

    #2
    Looks like an interesting concept. Worth considering.
    There seem to be some fees in the case of non-US lenders, in particular if they transfer money from their national PAYPAL accounts as some percentage is lost in the currency conversions, plus in some countries donations to KIVA don't seem to be tax deductible yet. The German KIVA site is very frank about this. With a little more time I will look at it more closely and perhaps decide to do my share.
    Thanks for the pointer in any case!
    Google ergo sum

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    • dylerpillar
      Freelance Writing and Editing Unprofessional
      • Aug 2008
      • 2214

      #3
      A very pertinent point; all donations are deductible to US taxpayers only. I do know that all donations that go in alongside with lending are optional. They can be switched off ("Not Now" option). I hope they move in an international-branch direction, particularly because Team European Union has the best all-time lending record and I would at least want those perennial champions to get something back.

      The paypal thing is a concern. I must be close enough to the US not to encounter that. The currency conversion also favors me insofar as $25 US < $25 Canadian at this moment. But on the same currency conversion note, there's a risk that if you lend to a country with hyperinflation you risk currency loss. Certainly no decisions to be taken lightly here. Thanks for giving it a look.
      Thick as wind-blown leaves innumerable, since 1985

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