I first heard of Kiva, probably on NPR or maybe it was APM Marketplace back in 2007. I thought what a great concept. Traditional banks will not make loans to folks with no credit and who knows what a loan shark would charge. Why not make loans to the common person who wants to be an entrepreneur and lift themselves out of poverty.
I initially deposited some funds and made a few loans. When the loans were paid back, I'd re-loan the money to other entrepreneurs. From just that small amount I deposited back in 2007, I've been a part of 90 loans! Here's the link of all the loans: kiva.org/lender/shennysh…
I think a couple months ago Kiva would have me gotten me to write a raving 5 star review and I would feel justified in each word I was writing.
I remember years ago I had heard about Kiva and maybe gave one loan and with the original settings, it automatically donates the repayments to Kiva, rather than back to your account.
However, after I started working, I wanted to start helping other people. Kiva (and now Kiva Zip) sounded like a great option. $25 can change someone's life for the better. I will say that I am picky about the loans that I give money to and I understand that there will always be some
risk in lending money to an individual you don't know with no real credit. Instead, I see the money as a donation to help people in need. I know I'll be able to take the money out in the future if I really ever wanted to, but I could always keep it in the system and help people reach their dreams with my help.
Since then, there have been issues. There was some controversy surrounding loans to college students which you can read about on Wikipedia. But personally, I have found that Kiva should try its hardest to help the field partners not present loans and not have any of the loans expire without being fully funded. There is enough money flowing around the system that the loans can be fully funded. Just makes me sad when a loan becomes expired.
Money doesn't buy happiness, but without it, we can't live. I have the luxury of being here in the US, with a great job and people who love me and can help me if I'm ever in need. I should do the same to help other people.
Personally at this point in time, I have almost $2,000 being lent, and approximately lent $4,000 at some point in a loan to them. Those people deserve a chance and being able to help them makes me feel better.
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Category: Payday loans