Kiva [Microlending to the less fortunate]

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Rip
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Re: Kiva [Microlending to the less fortunate]

Post by Rip »

Or better yet, skip it and just loan shark to people you know. Much easier to keep track of them so you can break an arm if they have the misfortune of missing a payment.

:twisted:
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Re: Kiva [Microlending to the less fortunate]

Post by LawBeefaroni »

Rip wrote:Or better yet, skip it and just loan shark to people you know.
That way dickpix lie.
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Re: Kiva [Microlending to the less fortunate]

Post by Drazzil »

Rip wrote:Welcome to The Bank of Drazzil, how may I help you?
I like the sound of that. :D
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Re: Kiva [Microlending to the less fortunate]

Post by LawBeefaroni »

Isgrimnur wrote:
LawBeefaroni wrote:The better way: be a bank.
The easier way: start a credit union.
They can only lend to members, IIRC.

And profits are shared amongst members.
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Re: Kiva [Microlending to the less fortunate]

Post by Drazzil »

LawBeefaroni wrote:
Isgrimnur wrote:
LawBeefaroni wrote:The better way: be a bank.
The easier way: start a credit union.
They can only lend to members, IIRC.

And profits are shared amongst members.

You know, I had often thought about that. Start a website called "I want to" Allow members to kick in and do things that may otherwise be unfeasible like start a bank and share the profits, or various businesses etc etc etc.
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Re: Kiva [Microlending to the less fortunate]

Post by Isgrimnur »

LawBeefaroni wrote:
Isgrimnur wrote:
LawBeefaroni wrote:The better way: be a bank.
The easier way: start a credit union.
They can only lend to members, IIRC.

And profits are shared amongst members.
It helps to have a defined, most likely geographically constrained group. And if you're the CEO, and a friendly board, your salary can surely take care of any of those pesky "profits".

:wink:
It's almost as if people are the problem.
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Re: Kiva [Microlending to the less fortunate]

Post by Drazzil »

Drazzil wrote:
LawBeefaroni wrote:
Isgrimnur wrote:
LawBeefaroni wrote:The better way: be a bank.
The easier way: start a credit union.
They can only lend to members, IIRC.

And profits are shared amongst members.

You know, I had often thought about that. Start a website called "I want to" Allow members to kick in and do things that may otherwise be unfeasible like start a bank and share the profits, or various businesses etc etc etc.
Yeah I know, kickstarter, but all I see are products.

Say for example, a community bank targeted at loaning money to a certain subset or population area. The proposal gets posted and members evaluate the business. The bank needs 5 million to get started. You get like 10,000 people to finance the bank to varying degrees. Ownership and profits are divided by amount invested.
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Re: Kiva [Microlending to the less fortunate]

Post by Drazzil »

Isgrimnur wrote:
LawBeefaroni wrote:
Isgrimnur wrote:
LawBeefaroni wrote:The better way: be a bank.
The easier way: start a credit union.
They can only lend to members, IIRC.

And profits are shared amongst members.
It helps to have a defined, most likely geographically constrained group. And if you're the CEO, and a friendly board, your salary can surely take care of any of those pesky "profits".

:wink:

Yeah there should probably be a caveat in the small print specifically banning businesses started with user funding from doing this.
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Re: Kiva [Microlending to the less fortunate]

Post by LawBeefaroni »

Drazzil wrote: Yeah I know, kickstarter, but all I see are products.

Say for example, a community bank targeted at loaning money to a certain subset or population area. The proposal gets posted and members evaluate the business. The bank needs 5 million to get started. You get like 10,000 people to finance the bank to varying degrees. Ownership and profits are divided by amount invested.
I don't think any crowd financing would be better than what a bank can already get at the prime rate or federal funds rate (essentially 0%).
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Re: Kiva [Microlending to the less fortunate]

Post by hitbyambulance »

i had a loan that defaulted in the early stages of being paid back. i think something bad happened to the borrower.
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Re: Kiva [Microlending to the less fortunate]

Post by Jeff V »

hitbyambulance wrote:i had a loan that defaulted in the early stages of being paid back. i think something bad happened to the borrower.
You're supposed to break his legs AFTER he doesn't pay. not before. Geeze, don't you know how finance works?
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Re: Kiva [Microlending to the less fortunate]

Post by Rip »

Just got the final payment on my first loan. So now I have $25 again.

Will be looking to find another worthy recipient.
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Re: Kiva [Microlending to the less fortunate]

Post by Zaxxon »

I was above $25 again this AM and made another loan. We're starting to close in on $10k loaned as a team.
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Re: Kiva [Microlending to the less fortunate]

Post by Rip »

Zaxxon wrote:I was above $25 again this AM and made another loan. We're starting to close in on $10k loaned as a team.
I gave mine to Pierre as well.

Seems they are charging the $3.75 donation on the front now, which kinda sucks.
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Re: Kiva [Microlending to the less fortunate]

Post by Zaxxon »

Rip wrote:Seems they are charging the $3.75 donation on the front now, which kinda sucks.
That's optional--you can set it to anything you want, including $0.
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Re: Kiva [Microlending to the less fortunate]

Post by Rip »

Zaxxon wrote:
Rip wrote:Seems they are charging the $3.75 donation on the front now, which kinda sucks.
That's optional--you can set it to anything you want, including $0.
Ahh, I should have hit the edit button. Oh well at least it is a good cause.
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Re: Kiva [Microlending to the less fortunate]

Post by Zaxxon »

Just got another glut of repayments. We're at 13.5 loans per member. Nice!
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Re: Kiva [Microlending to the less fortunate]

Post by Zaxxon »

Zaxxon wrote:Just got another glut of repayments. We're at 13.5 loans per member. Nice!
Now we're up to 15.2 loans/member, and are closing in on $10k lent. Octo-awesome! #pitchperfectreference

Would be nice to get to $10k by Christmas. Which made me think--would it be fun to also pick a charity and get a holiday group drive going from the OO community? I think so, but it'd only work if there are others interested, as well. What say ye? If so, we can get a thread going.
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Re: Kiva [Microlending to the less fortunate]

Post by hitbyambulance »

i made a few new loans just now - $150 to go to the $10k mark....
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Re: Kiva [Microlending to the less fortunate]

Post by Zaxxon »

An anonymous someone just tried to join our group. Any of you want to claim that request?
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Re: Kiva [Microlending to the less fortunate]

Post by mori »

That was me. Every year I see this thread and mean to join but never do but I did this year. I also did not notice you have to select the team at checkout so we didn't get credit for $50. Just $50 short of $10000 now.
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Re: Kiva [Microlending to the less fortunate]

Post by Zaxxon »

Once you are a member, the team will auto select unless you're on more than one team. Thanks for joining!
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Re: Kiva [Microlending to the less fortunate]

Post by TheMix »

I'm terrible about re-lending. Just went in and cleared my account. I loaned out $75, but it doesn't appear to have updated the team total yet.

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Re: Kiva [Microlending to the less fortunate]

Post by Zaxxon »

I see it. We're over $10k now!
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Re: Kiva [Microlending to the less fortunate]

Post by hitbyambulance »

my third default:
When choosing to default this loan the Field Partner, TerraClear Development, provided this reason for the default:
Some members from the group have defaulted on their loan and hence will not be able to repay the amount of their water filters due to unforeseen circumstances. As for the other members of the group, they have successfully completed the process of repaying the amount owed to the lenders.

To date, $20.92 of your loan has been repaid, and the remaining amount can be considered a loss.
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Re: Kiva [Microlending to the less fortunate]

Post by Zaxxon »

Nuts.
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Re: Kiva [Microlending to the less fortunate]

Post by mori »

I also joined the (A+) Team and with over 37k members and over $32 million lent, when they endorse someone for a loan, I have full faith to do so as well. I just use OO as my lending team 3 out of 4 times.

Hopefully if you have credit in your Kiva account, this may be a good reminder to go and lend out some money.
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Re: Kiva [Microlending to the less fortunate]

Post by em2nought »

I may just start doing this so that I can tell anyone wanting to borrow from me that they have to go to Kiva. I'd probably get more back than I do currently. I get the sense that most people consider a loan to either be a gift, or that they just duped a sucker. :roll:
Technically, he shouldn't be here.
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Re: Kiva [Microlending to the less fortunate]

Post by TheMix »

For family and friends, I always consider a "loan" to be a gift. If I get paid back, great; but if not, I don't get upset.

Now, if it's going to bother me, or I don't want to give the person a gift, then I say no to the loan.

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Re: Kiva [Microlending to the less fortunate]

Post by Zaxxon »

mori wrote:I also joined the (A+) Team and with over 37k members and over $32 million lent, when they endorse someone for a loan, I have full faith to do so as well. I just use OO as my lending team 3 out of 4 times.

Hopefully if you have credit in your Kiva account, this may be a good reminder to go and lend out some money.
You're leaving us!!?!? Say it ain't [25%] so!

In other news, we just crossed $11k. Since we haven't posted one in awhile, here's another invite link in case anyone new wants to join us.
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Re: Kiva [Microlending to the less fortunate]

Post by em2nought »

Gah, even my business partner's mother hits me up for money. I knew something was fishy, she's never that polite to me on the phone. lol
Technically, he shouldn't be here.
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Re: Kiva [Microlending to the less fortunate]

Post by Rip »

em2nought wrote:Gah, even my business partner's mother hits me up for money. I knew something was fishy, she's never that polite to me on the phone. lol

Not sure if this is the right time, but I have been meaning to ask you.

Can you spot me a few grand?
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Re: Kiva [Microlending to the less fortunate]

Post by em2nought »

Rip wrote:
em2nought wrote:Gah, even my business partner's mother hits me up for money. I knew something was fishy, she's never that polite to me on the phone. lol

Not sure if this is the right time, but I have been meaning to ask you.

Can you spot me a few grand?
Bahahaha, all this time you've been working an angle? :lol:
Technically, he shouldn't be here.
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Re: Kiva [Microlending to the less fortunate]

Post by Zaxxon »

$12k loaned after the one I just made. Woot?
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Re: Kiva [Microlending to the less fortunate]

Post by LawBeefaroni »

The kiddo is really into this. She was talking to a friend about it gushingly and the aunt heard them. The aunt's friend is a founder and put the kiddo in touch with marketing and they spoke to her about her experience and what she likes/doesn't. She wants to work for them now, "to help people". :wub:

I also told her to put in a good word for the OO team.
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Re: Kiva [Microlending to the less fortunate]

Post by Zaxxon »

Nice.
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Re: Kiva [Microlending to the less fortunate]

Post by Zaxxon »

Today is Giving Tuesday. Join us!
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Re: Kiva [Microlending to the less fortunate]

Post by Rip »

Just a heads up to all my fellow Kiva lenders. I got a troll e-mail today suggesting my account was being closed.

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Re: Kiva [Microlending to the less fortunate]

Post by LawBeefaroni »

"Just update your account know."
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Re: Kiva [Microlending to the less fortunate]

Post by Zaxxon »

Hey, look, it's the holidays again. Our team is closing in on $15k cumulatively lent. Go, team!
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