Kiva [Microlending to the less fortunate]

[Zaxxon]

So close to $20k in loans...

[Alefroth]

I just requested to join.

[Zaxxon]

I just requested to join.

Approved!

[Kraken]

I'd completely forgotten about Kiva until I got an email from them a few months ago. The small loan I had made was paid back, but I needed to add a little more money to make a new one -- I think their minimum went up from $20 to $25, or something. So I put in enough to lend it back out. I like the microlending concept, but to me it's more like a charitable donation. I don't care if I get my $25 back.

[Alefroth]

Wow, it's so hard to make a choice. How do you use the info in loan details to determine what might be a reasonable field partner?

[Zaxxon]

Wow, it's so hard to make a choice. How do you use the info in loan details to determine what might be a reasonable field partner?

I don't. I've had a few loans bust, but that's out of several hundred.

[Alefroth]

Wow, it's so hard to make a choice. How do you use the info in loan details to determine what might be a reasonable field partner?

I don't. I've had a few loans bust, but that's out of several hundred.

I'm more concerned about those charging high interest rates. Is that something that just isn't a big enough problem to worry about? I saw one with 51% PY. Would that still be a good loan? Am I overthinking this? =)

[Zaxxon]

I haven't looked closely in some time. Will have to do so.

[Alefroth]

Thanks. I'm sure I'm just analyzing it too much. I'm sure any of these loans will be helpful to the borrower.

It's really sad to see all the ones that are ending soon and haven't been funded. But at least some have flexible funding.

I was surprised to see there were no loans from Ukraine.

[em2nought]

I was surprised to see there were no loans from Ukraine.

Maybe everybody fears messing with "The Big Guy's" turf?

[hitbyambulance]

i seem to have had a greater-than-average percentage of defaults with my loans. as Kraken said, this is basically an interactive continuing charity for me - i just put more money in when that happens (or to make up for the ever-chipping-away of currency loss in a lot of the loan repayments).

[hitbyambulance]

UPDATE: i've now made loans to 61 of the 76 different countries that Kiva funds.

[Alefroth]

Nice. How often does it happen that a loan you fund doesn't get fully funded?

Draz should be relieved to discover he can help people in the U.S. now.

[Zaxxon]

Nice. How often does it happen that a loan you fund doesn't get fully funded?

Not that often that I've noticed, but I've definitely experienced it multiple times.

[Daehawk]

Ive been skipping around in this thread but not making headway that way. Ill see about reading the thread soon'sih. I tend not to trust stuff I dont understand but I am here and seeing it .Just wanted you to know. Im not blindly walking into a wall and trying to keep walking.

[hitbyambulance]

Nice. How often does it happen that a loan you fund doesn't get fully funded?

i have not ever experienced it, i think?

and if it does happen, the money just goes back to you, if that is what you were worried about

[Alefroth]

Nope, not worried (I'm treating it like a donation), I was just looking through the ending soon category, and it seemed like so many weren't going to make it. But some loan the partial amount, so maybe there aren't many that just don't get funded.

[Zaxxon]

UPDATE: i've now made loans to 61 of the 76 different countries that Kiva funds.

You inspired me to check my stats to see what 15(!) years of small but continuous contributions looks like:

Loans made: 258 (98th %)
Countries supported: 80
Sectors supported: 15/15
Activities: 158/163
Field partners: 162/249
Loans by my invitees: 1,722
Total lent: $6,450 on $1,089 deposited
Amount lost: $208.06 ($155.74 defaulted, $52.32 currency loss)

Loan outcome: (these don't add up to 258 but I haven't put in the effort to track down why)
Fundraising 1
Paying back 38
Paying back delinquent 19
Ended in default 11
Repaid 161
Repaid with currency loss 42
Expired 5

[Unagi]

Perhaps paying back delinquent is also counted under paying back.

[Zaxxon]

Perhaps paying back delinquent is also counted under paying back.

Seems like you're on to something.