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Kiva Kicks!

I was having a poke about my Kiva account today and I have to say OMG – this is amazing!

I started with Kiva in May of 2007. Such a nice warm and fuzzy feeling. Since then I have deposited a total of $200 into my account – and $50 of that was a very thoughtful and lovely gift.

However, here’s the amazing bit. My $200 has to date funded 43 loans. That’s $1075 worth. Where else could you deposit $200 and in the space of under 5 years be able to spend $1075? Think about it in terms of return – this is mind-blowing! As funds are paid back I can choose to withdraw them if I wish or to relend – relending is what has given these fabulous results 🙂

Every single one of my lenders has paid back their loans, my only loss was $0.14 on a currency exchange with Kenya.

I have a tendency to concentrate on giving to women who are in the handcrafting business – but every now and then I do branch out and lend to others, If you’re interested in seeing who I’ve helped and what they’ve done with the money you’re welcome to view my lender page. And if you’d like an invitation to start micro-lending yourself, drop me a note.

3 thoughts on “Kiva Kicks!”

  1. Hi Kersti,
    I’d never heard of this before, what a wonderful idea. Can you send me an invite, I would love to be part of it!
    Thanks 🙂
    Amy

  2. Kiva is a nice, warm fuzzy idea that delivers emotional returns to wealthy first world donors. Unfortunately, microcredit does not work as intended for the poor. It’s widely proven via independent studies that microloans are ineffective at alleviating poverty. These studies are easily researched on Google.

    At best, microloans help people cover emergencies caused by their poverty. At worst, loans are taken without proper financial literacy, and at interest rates between 30-60%, so many, many borrowers fall into deep debt because they’ve taken on multiple loans. Most importantly, microloans, overall, do not help people grow their businesses because the poor are not experienced entrepreneurs.

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