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Kiva Loans

by Noah Fleming
3 replies
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Because of Allen, about a month ago I finally started researching and reading what I could about Kiva.

I liked what I read and learned about the site.
Today I made my first two loans through Kiva. Pretty exciting if you ask me.

I wrote about this to members of my own site and shared in the excitement of how fast a loan is usually filled up. There really isnt a ton of time to be reading about those requesting loans and their specific needs.

I had read through a bunch of projects and decided on a few I'd like to contribute towards only to be told they were already full after I'd made my decision.

Anyways.. I'm excited about this and plan to give often.

Imagine your wife did this for you..

"Mrs. Uth Chantha was born in 1968 and she now lives in Preak Roka Village in Kandal Province. She is a housewife who cooks food for her husband and children. Her husband, Sa Thavy, sells ice-cream in the local village. Since his business is going well, he wants to expand his customer base by selling products from door to door, but needs a motorbike to travel around. Thus, Mrs. Uth Chantha has decided to ask for a loan to buy a motorbike for her husband's business. Mrs. Uth Chantha has two children who both attend high school."

Amazing.
P.S.
$100 more and she'll get that motorbike!

Kiva - Uth Chantha
  • Profile picture of the author ThomM
    P.S.
    $100 more and she'll get that motorbike!
    Not any more she got her 500.
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    • Profile picture of the author Alton Hargrave
      This does look like a great idea for helping people in 3rd world countries. I think they would work really hard to repay the loans. I was unable to find any information about interest rates, etc. Do they pay back any interest. Or, is this an interest free enterprise in which the lender gets paid back in helpings of knowing he or she helped someone out?

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      • Profile picture of the author Noah Fleming
        Hey Alton,

        Yeah according to Kiva, the field partners can charge interest so that does put a little bit of it all into question. I've seen various people discussing Kiva and that in some cases the interest could be abnormally high.

        Kiva does seem to address this on the Microfinance page.
        Kiva - About Microfinance

        I mean, reading the web there are lots of skeptics about Kiva but it's like any charity. We don't really know if the money is getting there. For me, I like to believe it is. I also like being able to read the stories and read about why the funds are needed.
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