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Thread: Kiva - Loans that change lives??

  1. #1
    "King of Quotes" pyrofyr's Avatar
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    Default Kiva - Loans that change lives??

    Anybody else heard of this site? I heard about it through SMBC (Saturday Morning Breakfast Comics), and it seems cool.

    Essentially what it does is it lets you give loans to people in third world countries, and whenever the 'loan period' is over, they give you the money, and typically some interest.

    It seems like a good way to promote business in these countries, and it's a way that can't be interfered with by these governments, so it seems cool.

    I've yet to try it however because right now I'm not really looking to toss some money at a website that I might never see again >_>!

    http://www.kiva.org

    Again, not sure exactly how 'safe' this site is, but it seems reputable as I've heard about it on a few reputable sources (after some googling)
    Gone with the wind

  2. #2
    Crimson Balrog PhoenixRider's Avatar
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    I don't know about this. Isn't this going to push some of these people into more of a debt if they can't pay you back?

  3. #3
    "King of Quotes" pyrofyr's Avatar
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    Well, after looking up I found out that you can't get interest back from it, because Kiva would need to be setup as a broker to do so.

    Basically the way it works is that the people apply for loans to companies in the area, and the companies set them up with Kiva. From there you can loan them the money as if you're a bank, so picture that instead of one big bank giving them the money, tons of random people do.

    On your site, besides the interest (because there is none) you can see it as a typical bank, you put your money into it, and someone else gets to put it into places they think will pay out until you can get it back. These people can usually cover the loss, but would like the money so that they can be comfortable doing it...
    Gone with the wind

  4. #4

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    Microloans! That's what these are.

  5. #5
    Mushmom FalconsHunt's Avatar
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    Sounds great! Who wants to Microloan me 20 bucks?

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  6. #6

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    Last year my class raised money for this.
    Idk what happened after, but yeah, we made a loan thingy... yeah. ahahah.
    my info's not very helpful ;o

  7. #7
    "King of Quotes" pyrofyr's Avatar
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    I talked to some people who have, and they told me more about it, it's quite awesome.
    Gone with the wind

  8. #8

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    I heard about it a couple weeks ago. I'd love to participate in it but I' pretty strapped for cash right now, so it'll have to wait a few months. I'd like to put $100 or so in it and every time it returns, put it right back in

  9. #9
    Phantom Watch krnboy1009's Avatar
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    A good idea. A small amount of moneys people invest here can pile up and really help people in poor countries help themselves.

  10. #10

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    No need to search for the nearest payday loan store, no queues or tedious paperwork - the application process is 100% online and can be done from your computer or mobile phone in a matter of minutes. This site has made my life so much easier, here is the link to it paydayseek.com 1 hour payday loan, one hour loan

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