User Comments

1. 

   6/27/07

   jphillips

   www.kiva.org/about/promote
   
   that might also be useful

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2. 

   6/27/07

   zamz2011

   that a good site you post here jphilips hmmm...if other lend and give you money, you should pay back or not...

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3. 

   6/27/07

   jphillips

   smartwealthyrich.com/dont-buy-me-a-beer-use-that-money-for-something-else-i...

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4. 

   6/27/07

   NINE

   I was just on the phone with Tony earlier today (he is in Cabo San Lucas soaking up the sun) and he was JUUUST talking about us doing another challenge. You should email him Jonathan, do you have his email address?

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   1. 

      6/27/07

      jphillips

      yes I do! will send him an e-mail right away!
      Thanx Nine!
5. 

   6/27/07

   jphillips

   e-mail sent

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6. 

   6/27/07

   confessing7girl

   im totally up for any fundraising! but i dont really believe in the kiva loans project!!

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   1. 

      6/27/07

      jphillips

      Hi confessing7girl!
      why is that?
   2. 

      6/27/07

      confessing7girl

      im not sure how it works!! but if its a loan people pay u back right!! anyway thats not even the problem here!!
      as far as i know u would loan ur money to poor families from poor countries all over the world right?? i believe that doesnt solve any problems those families might have!! u give them money they r so excited they actually hv money, they will spend it all... and the bad living conditions continues! cause the money might change how/where they live for awhile but it doesnt change their living conditions! bad houses, bad schools, poor hygiene ... and then theres the paying back problem!!
      i dont know if at kiva they hv any kind of organization that helps these people managing the money, improving the community!!?!? at the end they actually hv to work and who knows what else to pay those loans!!
      thats how i understand that project and i dont see it as it is really helping ....
7. 

   6/27/07

   jphillips

   Good points, and honestly those are common misconceptions about Kiva, actually Kiva helps the entrepreneurs manage that money, these people have to come up with some sort of plan, and the money will be used only to help them in their business. If it was only donations, and not loans I think it wouldn't be as effective, as people would spend the money on whatever. But since you're lending the money, they have to pay it back within a certain time frame, say 12 months. Which actually help the development of their country. Talking about poor hygiene, bad houses, bad schools, that is exactly why Kiva exists, you lend someone money, they pay you back, you then lend that money to someone else, and on and on and on, helping them build their business, with which they will make enough money to actually be able to afford better education and better homes. These entrepreneurs (if you want to call them entrepreneurs, which they are) do have to pay it back, and Kiva deals with other organizations in other countries to make sure that lenders will get their money back after the term. I really think it's a nice way to help others, and it's worldwide, not only in 2-3 countries. Those bad conditions these people are in, we can help them by lending them money, and of course, since they have to pay back the loan, it gives them a sense of responsibility and commitment. Regarding the paying back thing, if someone asks for say $500, and pays $25 every month, in 20 months it'll be clear, and the repayment range is set in advance, so that everyone knows what to expect.
   
   I hope that clarifies a little, I would love it if you'd participate, if you think it's a good idea of course

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   1. 

      6/27/07

      confessing7girl

      okokok so i guess i get it , theres actually people managing what to do with the money!!!that sounds more reasonable!! but im still a little unsure... is there any type of reports so u can see how and what they can do out of ur loan?!?! lets say imagine they use ur money for plantations, they pay u back out of the money they made with it and do they actually make any profits!!?? cause if thats just a give/take back with no real profits it still doesnt solve anything!!it still keeps on delaying the real problem!!! my question is : is there a place where u can see real results from peoples loans!!??
8. 

   6/27/07

   jphillips

   I found this video on the New York Times website, about Kiva and micro-lending: video.on.nytimes.com/?fr_story=FEEDROOM186917 and there is also some information on Kiva website: www.kiva.org/app.php?page=about
   
   The "partner representatives" or "field partners" as Kiva calls them, are people that manage the money, and to which entrepreneur to send it to, and they do update lenders on how the business is going. Like with any business, it may or may not work. But they have to repay the loan. Many of these entrepreneurs are already in business, but often it's not moving forward and they need a little push to take that business to another level, or at least reach a comfortable level, that's where Kiva comes in. Many of the loans will help these people in the long run, say someone wants to buy cows or something, and asks for $400, well the cows will still make him/her money even after the loan is paid back. so in the long run it helps them and they actually make profits. you can check out the results and stories on this page: www.kiva.org/app.php?page=businesses&action=listJournals
   
   They have support from Paypal (and a bunch of other websites and organizations and companies, like Youtube, Starbucks, MediaTemple, and others) and there is no transaction fees, since paypal supports Kiva, they decided to not charge transaction fees, which is pretty cool.
   
   The repay rate is 99.75%, which is pretty good, and means the entrepreneurs are actually making money, the repay rate in microloans is usually around 96-97%, so Kiva is doing pretty good, people are able to pay back the loan.
   
   Hope that helps

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   1. 

      6/27/07

      confessing7girl

      that was exactly the kind of information i was hoping to get!! something that shows it can work , that its real!! ill be looking into it a little better later but thanks for taking the time to explain it!!
9. 

   6/27/07

   jphillips

   No problem, you're welcome!
   Thanx for asking questions, hopefully other that are wondering about Kiva will find this thread useful!

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