Announcement

Collapse
No announcement yet.

Microloans to the third world on the interwebs. Cool?

Collapse
X
Collapse
 
  • Page of 3
  • Filter
  • Time
  • Show
Clear All
new posts
Previous 1 2 3 template Next
  • #16
    Originally posted by Kidicious


    Do you have to qualify for those loans?

    Kiva isn't to make profit. In fact, you might not get paid back. It's charity.
    Yes, if you are a borrower, Prosper performs a credit check on you and assigns you a rating concerning your financial risk: AA, A, B, etc.

    As a lender, I do not have any direct contact with any of the borrowers - Prosper is the soul middle-man if you will. If any loans default, Prosper assigns a collection agency to try and get monies from the dead-beats in question.

    So, like Kiva, there are some risks. But the key to lowering the risks is to diversify (instead of loaning $500 to one person, divide the $500 up between a number of people). The minimum amount a lender can lend is $50.00.

    I believe the maximum and borrower can borrow is $27,000.00.
    ____________________________
    "One day if I do go to heaven, I'm going to do what every San Franciscan does who goes to heaven - I'll look around and say, 'It ain't bad, but it ain't San Francisco.'" - Herb Caen, 1996
    "If God, as they say, is homophobic, I wouldn't worship that God." - Archbishop Desmond Tutu
    ____________________________

    Comment

    • #17
      Originally posted by Wittlich


      Yes, if you are a borrower, Prosper performs a credit check on you and assigns you a rating concerning your financial risk: AA, A, B, etc.

      As a lender, I do not have any direct contact with any of the borrowers - Prosper is the soul middle-man if you will. If any loans default, Prosper assigns a collection agency to try and get monies from the dead-beats in question.

      So, like Kiva, there are some risks. But the key to lowering the risks is to diversify (instead of loaning $500 to one person, divide the $500 up between a number of people). The minimum amount a lender can lend is $50.00.

      I believe the maximum and borrower can borrow is $27,000.00.
      The good thing about microloans is people can use them who wouldn't be about to borrow from a bank.
      I drank beer. I like beer. I still like beer. ... Do you like beer Senator?
      - Justice Brett Kavanaugh

      Comment

      • #18
        Wittlich: The purpose of Kiva isn't to make money, it's charity. I'm not interested in lending Bob from Kansas $500 to buy some weed, I'm more interested in helping people in the developing world start something.
        "The issue is there are still many people out there that use religion as a crutch for bigotry and hate. Like Ben."
        Ben Kenobi: "That means I'm doing something right. "

        Comment

        • #19
          this is very cool asher, i'll have to look into it.
          "The Christian way has not been tried and found wanting, it has been found to be hard and left untried" - GK Chesterton.

          "The most obvious predicition about the future is that it will be mostly like the past" - Alain de Botton

          Comment

          • #20
            Right freaking on, Asher!
            Kiva is a great concept.
            Apolyton's Grim Reaper 2008, 2010 & 2011
            RIP lest we forget... SG (2) and LaFayette -- Civ2 Succession Games Brothers-in-Arms

            Comment

            • #21
              Originally posted by Asher
              Wittlich: The purpose of Kiva isn't to make money, it's charity. I'm not interested in lending Bob from Kansas $500 to buy some weed, I'm more interested in helping people in the developing world start something.
              I full-heartedly agree with you Asher. Kiva is about charity.

              I only mentioned Prosper since you can feel good about helping someone start a business/get out of debt and still make a rather nice profit to boot.
              ____________________________
              "One day if I do go to heaven, I'm going to do what every San Franciscan does who goes to heaven - I'll look around and say, 'It ain't bad, but it ain't San Francisco.'" - Herb Caen, 1996
              "If God, as they say, is homophobic, I wouldn't worship that God." - Archbishop Desmond Tutu
              ____________________________

              Comment

              • #22
                As of February 3, 2008, Kiva has $21,432,835 in loans from 242,166 lenders. A total of 32,457 loans have been funded. The average loan size is $564.19 [12] According to Alexa, Kiva's website typically ranks well into the top 25,000 websites on the Internet.
                "The issue is there are still many people out there that use religion as a crutch for bigotry and hate. Like Ben."
                Ben Kenobi: "That means I'm doing something right. "

                Comment

                • #23
                  Originally posted by Asher
                  You heard of this before Wezil?
                  No I haven't but I was browsing the website and found it interesting. I was posting the excerpts from the site for information purposes.
                  "I have never killed a man, but I have read many obituaries with great pleasure." - Clarence Darrow
                  "I didn't attend the funeral, but I sent a nice letter saying I approved of it." - Mark Twain

                  Comment

                  • #24
                    Originally posted by Kidicious
                    Kiva isn't to make profit. In fact, you might not get paid back. It's charity.
                    I was curious about this aspect of it. According to the Kiva site they are astonishingly good about repayment (better repayment than most NA bank loans I would suspect). Of course, "past performance does not indicate...yada yada".
                    "I have never killed a man, but I have read many obituaries with great pleasure." - Clarence Darrow
                    "I didn't attend the funeral, but I sent a nice letter saying I approved of it." - Mark Twain

                    Comment

                    • #25
                      I loaned $50 out today...

                      $25 to a Blacksmith in Eduador
                      $25 to a single-mother shop owner in Peru
                      "The issue is there are still many people out there that use religion as a crutch for bigotry and hate. Like Ben."
                      Ben Kenobi: "That means I'm doing something right. "

                      Comment

                      • #26
                        Originally posted by Asher
                        Wittlich: The purpose of Kiva isn't to make money, it's charity. I'm not interested in lending Bob from Kansas $500 to buy some weed, I'm more interested in helping people in the developing world start something.
                        Who's to say these people won't use the money to buy guns to terrorize the local population? This idea that Kansans are more likely to abuse $500 than a Nigerian is mildly amusing to me.

                        Comment

                        • #27
                          Re: Microloans to the third world on the interwebs. Cool?

                          Originally posted by Asher

                          My friend just donated $25 to a single mother running a drink stand in Nigeria...you're not guaranteed to get this money back (obviously), but usually you do which goes back into your Kiva account which you can then loan to other people...
                          I've heard about websites like this but, suspecious me, I've always wondered how legitimate they were. It's gratifying to hear that loans usually get paid back.

                          Comment

                          • #28
                            Re: Re: Microloans to the third world on the interwebs. Cool?

                            Originally posted by Zkribbler


                            I've heard about websites like this but, suspecious me, I've always wondered how legitimate they were. It's gratifying to hear that loans usually get paid back.
                            It's a registered non-profit based in the USA, at least.
                            "The issue is there are still many people out there that use religion as a crutch for bigotry and hate. Like Ben."
                            Ben Kenobi: "That means I'm doing something right. "

                            Comment

                            • #29
                              Originally posted by Wiglaf


                              Who's to say these people won't use the money to buy guns to terrorize the local population? This idea that Kansans are more likely to abuse $500 than a Nigerian is mildly amusing to me.
                              You really think your average person in Nigeria is more likely to squander money than a Kansas resident?
                              "The issue is there are still many people out there that use religion as a crutch for bigotry and hate. Like Ben."
                              Ben Kenobi: "That means I'm doing something right. "

                              Comment

                              • #30
                                Re: Re: Re: Microloans to the third world on the interwebs. Cool?

                                Originally posted by Asher


                                It's a registered non-profit based in the USA, at least.
                                They can be the worst. Just look at the self-dealing that goes on in the Red Cross. I'll give them my blood but never a penny from my pocket.

                                Comment

                                Previous 1 2 3 template Next
                                Working...
                                X