Comments on: Kiva – The Rock Stars of Microfinancing! https://eliteedgemoney.com/kiva-the-rock-stars-of-microfinancing-for-the-good/ Money | Minimalism | Mohawks Thu, 15 Mar 2012 00:26:52 +0000 hourly 1 https://wordpress.org/?v=6.9.4 By: J. Money https://eliteedgemoney.com/kiva-the-rock-stars-of-microfinancing-for-the-good/#comment-8172 Thu, 14 Oct 2010 14:00:31 +0000 https://staging.eliteedgemoney.com/?p=3811#comment-8172 Interesting indeed, going over now to check out :) I think the more of these things that pop up the more connected we can all be to humanity again! Tired of all this “Me, Me, Me” mentality.

]]> By: Yana https://eliteedgemoney.com/kiva-the-rock-stars-of-microfinancing-for-the-good/#comment-8082 Tue, 12 Oct 2010 20:29:59 +0000 https://staging.eliteedgemoney.com/?p=3811#comment-8082 Guess what? I found a way to help artists with loans without charging them interest – http://microfinance.novica.com/faq/#how_does_it_work
I think it is an excellent program and am hoping that Nono completes his loan request promptly! I was not looking for this in particular, but have shopped Novica before. I received a reminder that I had a discount about to expire, and was taking a look around. I really like Novica, but had no idea that they participated in microfinancing.

]]> By: J. Money https://eliteedgemoney.com/kiva-the-rock-stars-of-microfinancing-for-the-good/#comment-7554 Mon, 27 Sep 2010 16:11:36 +0000 https://staging.eliteedgemoney.com/?p=3811#comment-7554 Oh wow, I never even saw that! If you check out their help center (http://www.kiva.org/help) there’s a section under there titled “Why are your Field Partners’ interest rates so high?” and it’s prettying interesting to read. Goes over a lot of the reasons why it’s so different than say, here in the States, and why they have to charge so much. I’m not going to pretend I know more than them on this, but I’ll admit it does sound kinda sketchy.

That said though, it’s not going to stop me from investing. Most of these people can’t borrow even a dime from a bank , so if they can really do good w/ these amounts they’re borrowing – and they’re rarely defaulting on them – I still consider it a win-win situation. Just not AS sexy as w/ lower amounts being charged.

]]> By: Mark https://eliteedgemoney.com/kiva-the-rock-stars-of-microfinancing-for-the-good/#comment-7534 Mon, 27 Sep 2010 03:29:27 +0000 https://staging.eliteedgemoney.com/?p=3811#comment-7534 I see that the average interest rate the field partners charge to the borrowers is outrageous (35%). Is this the average interest rate in the microfinance industry? Is there anyway we can change this because I wouldn’t consider giving my money to field partners that charge 15+%.

The interest rate for borrowers in the Congo is 80%! It seems like a field partner with Kiva is a highly profitable venture which is a huge problem for a non-profit organization like Kiva.

]]> By: J. Money https://eliteedgemoney.com/kiva-the-rock-stars-of-microfinancing-for-the-good/#comment-7492 Fri, 24 Sep 2010 13:46:54 +0000 https://staging.eliteedgemoney.com/?p=3811#comment-7492 YES! I remember that post actually – it’s on my list of “people doing good” that I’ve started creating :) AMAZING idea, spread so much love around man!

Btw, are you a member of Nate’s ItStartsWith.Us crew? If not, you should be :) He gathers thousands of people to do 1 good thing a week (and more, if you sign up to other parts of it) but that alone is awesome. Together the team has done really incredible stuff over the past year, and it’s also great for ideas too! Sign up and tell him I say hi :) We’re collaborating on something HUGE coming up – you wont’ want to miss it.

]]> By: sarah https://eliteedgemoney.com/kiva-the-rock-stars-of-microfinancing-for-the-good/#comment-7491 Fri, 24 Sep 2010 13:13:17 +0000 https://staging.eliteedgemoney.com/?p=3811#comment-7491 Hey J… I got the idea for the RAOK from this blog post. Check it out, it has great ideas in case you just stuck.

http://mixmingleglow.com/blog/?p=1358

]]> By: J. Money https://eliteedgemoney.com/kiva-the-rock-stars-of-microfinancing-for-the-good/#comment-7482 Fri, 24 Sep 2010 02:27:28 +0000 https://staging.eliteedgemoney.com/?p=3811#comment-7482 @Lisa – Good work, thx :)
@Yana – THANK YOU! I’m sure it counted :) We’re gonna have a great team – all doing good!
@Cristina – Thanks for sharing Cristina, and for reading! Glad to have you on board :)
@Jenna – Oooh I like that idea! And xmas is around the corner so I may have to give it a shot!
@Steve – Looks like it’s 1.1%. More on defaults & risk here: http://www.kiva.org/about/risk

]]> By: Steve https://eliteedgemoney.com/kiva-the-rock-stars-of-microfinancing-for-the-good/#comment-7480 Fri, 24 Sep 2010 00:22:24 +0000 https://staging.eliteedgemoney.com/?p=3811#comment-7480 What is Kiva’s default rate? I was unable to find it on their website last time I looked.

]]> By: Jenna https://eliteedgemoney.com/kiva-the-rock-stars-of-microfinancing-for-the-good/#comment-7475 Thu, 23 Sep 2010 18:32:22 +0000 https://staging.eliteedgemoney.com/?p=3811#comment-7475 CONGRATS! I love Kiva and have supported them for a long time. They also make great gift cards for young kids and are a great teaching tool. Give a $25 gift certificate, talking about helping other and microfinancing. Log on, pick someone to support. And if your friend makes a wise investment, they’ll get the $25 back to reinvest or spend on their own.

]]> By: Cristina https://eliteedgemoney.com/kiva-the-rock-stars-of-microfinancing-for-the-good/#comment-7473 Thu, 23 Sep 2010 17:54:36 +0000 https://staging.eliteedgemoney.com/?p=3811#comment-7473 Hi J–I’ve been a reader for a long time but I don’t think I’ve ever left a comment. I am a huge Kiva fan and had to join your lending team. Thank you for spreading the word to all of your readers!

Also, I just wanted to point out that although the 15% recommended donation to Kiva at the end is voluntary, even the most efficient nonprofits needs 10-15% of the total amount of money that they collect/distribute to go towards operating expenses. So please donate if you can!

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