I just went looking for my original posts on starting out with Kiva and realized it was back in September of 2008. I really thought it hadn’t been that long, but that is something of a testament of how well the system works. It has been easy for me to re-loan money once it has been repaid and in only a few instances have I not been repaid yet (the accounts are delinquent but they are still being repaid). Of the 16 businesses I have loaned to, 4 have repaid a total of $696 and I now have a total of $825 in outstanding loans. This covers a dozen countries on four continents. I have received a number of emails from those in the field distributing the funds which helps me actually know there is a human on the other side benefiting from the funds.
It still boggles my mind, the sheer scale of the Kiva system. Over $112 MILLION has been loaned through their system from 642,229 lenders. Take a look at their other stats for more on the Kiva story. If you’re feeling lucky (they have a repayment rate of 98.13%), and have a few extra pennies in your pocket, take a chance and help an entrepreneur make a better life for themselves.
Very cool. I actually got a Kiva gift certificate for Christmas but have no clue where to begin in choosing who to give it to…any tips or suggestions?
Kristin, When I started out I went entirely by sense of feel. Now I look to regions/countries I’m interested in (lately Tanzania, Mongolia and Nepal) and look to see what the person plans to do with the money. I also pick people based on what they are creating and gravitate to businesses with uniqueness. Almost everyone you read about on the site is a hard worker and trying to make a better life for themselves and family, which makes it hard to narrow down sometimes.
I’d say jump in, register and give it a whirl by picking someone in a country you have an affinity for. Good luck!
I’ve heard so much about this program after the past year and it’s great to hear a first hand account of how it’s working for you. Thanks for sharing those precise details, I look forward to looking through the site and learning more about how to participate :-)
Hi Shannon,
I’m glad the post could be of some help. One of the two people who started was also featured in this month’s edition of Afar magazine, if you can get your hands on a copy.
pwc