KIVA

[veebee]

In like Flynn... for five !   


(hmm, wonder if I can borrow money from Kiva to build a super-boinc-machine ....  :coolgleam:  )

[Rob]

I'll look into it more closely on the weekend. Just wasted $200 on a flash new 23 inch LED monitor that I don't need, so need to ease my guilt at the needless spending of money in some way  ;D

[Dataman]

I answered you PM VeeBee. I also got enought payback to make my first loan under B@A.  

:aus1:

EDIT: Very impressive. We are one day old and have already lent $125.00. 

[Dataman]

I received some questions on KIVA so I thought I would post this. Near as I can tell KIVA works like this:
Kiva gives the money to the field partner (a local bank or bank-like entity) who in turn lends it to the borrower (via one of their agents). The agent does charge a small interest/fee (that's how he gets paid). "We" (the lenders) then backfill (in effect cover) the loan. When a payment is due from the borrower, the agent collects it and gives the principle back to the field partner who holds on to it for approx two months (that's how they make their money on interest income). Finally the money is returned to the lender (us). We don't get any interest or fee.

The whole idea is to make small, inexpensive loans to people who could not otherwise get a loan from a proper Bank.

KIVA Donations:
When you make a loan, KIVA will attempt to collect a 15% donation. You do not have to do it. If you click on "edit" you can select $0.0. As a rule of thumb, I donate once about every 4-5 loans.

KIVA Loans:
Read what is on the borrower's page as it varies and is important to making a decision.
1. Most loans are protected from currency fluctuations. Some are not so it is wise to check. Currencies in some of these countries fluctuate greatly. If you have protection your get the funds back at the same rate as when you lent it.
2. A tiny few of the loans have default protection. You are guaranteed a return of your loan. They are few and far between and funded fast.
3. Look at the field partner information. KIVA rates them from one to five stars. I stick to 4-5 star ratings.
4. I am still trying to research this but a large ROI by the field partner may NOT indicate large rates/fees to the borrower. It may indicate that the field partner is very good at investing the funds during the two months they are "a holder in due course". The real "black hole" is what happens between the field agent and the borrower and between the field agent and the field partner. I think that is largely undocumented to us.
5. As a side note, I tend to stay away from loans for "Personal Living Expenses". I tend to loan for the purchase of materials that can be transformed into something that can be sold at a profit. This is just my opinion though.

If you have any questions, just ask in this thread.

[kashi]

Thanks for the info.

I noticed currently if you click on "Edit" for the donation to Kiva, the amount you donate will be matched by the Omidyar Network.
The first loan I made I didn't click on edit and there was no matching donation. I gave them the 15% for my first one, the later ones I gave 5% which is only $1.25 but Kiva receives $2.50.

So what I'm trying to say is if you decide to give a donation to Kiva click on edit even if you wish to stay with the default 15% and Kiva will receive double whatever you donate.

[Dataman]

That's great to know and I did not know that Kashi. 

[Diablo]

I'm in and lending 
Way to go team!

[kashi]

Welcome to the club Diablo.   

Now that's what I call a hat. 

One of the Bolivian women has a corker too. 

[Dataman]

We're gaining on those other Aussie teams ...   Thay had to start at $0 in the beginning too.  

Cool hat Dennis.  :coolgleam:

$250.00 lent in two days!  

We're headed to the coast for the weekend. Maybe she will let me check in with her blackberry dohickey.   Keep those crunchers a-crunching.  

:aus1:

EDIT: They got the hat thing down good in Bolivia too.  biggrin Did anyone notice we are listed in the Top Ten Teams section on three of our loans. The logo looks good. 

[kashi]

Thar's gold in them thar hills.  ;D

Hope you get some of it.

I couldn't find a photo of myself, so I have used Shintaro checking out some star knives. Hmm, perhaps I should put an avatar here again too.

[Rob]

OK, I'm in now  ;D.

[kashi]

Welcome Rob.

Up to 8 members now. 

[Dataman]

Welcome Rob!!! Now we are 8. 
I can see right now that if I am to be a member of this team, I have to get me a REALLY COOL hat!!!!  biggrin

[veebee]

hmmm, sounds like an idea... we should all wear a "special" hat for our profile pic there... (will have to go see whats going on to make you say that Dataman...)

[Dataman]

Cool Dennis. I live about 15 kilometers from Sutter's Mill where gold was discovered in California that set off the California gold rush. The area I live in is known as the Gold Country or the Motherload. We still have two small working mines in the area; the largest being The Gold Bug Mine. Before 1900, entire mountains were washed away with high-pressure placer mining and huge floating dredges destroyed whole river systems. Now dredges are limited to a 4" hose and placer mining is illegal. Mostly people use metal detectors and small dredges in the rivers. What amazes me is after 160 years of intense mining is they still find gold. Mostly gold dust but some nuggets too. About 10 years ago, a dog ran off after a deer about 5 kilometers from my house. The kids came back with with the dog and a nugget weighing over two pounds (1 kilogram). The dog  (and kids) got their picture in the paper.  biggrin

Three days of heat. The forecast is for 108F (42C) Wednesday.  :cry2: That kind of heat is really hard on my Great Dane. It is hard to cool a 130 pound mass with only a wet tounge. I use frozen two-liter water bottle to keep them cool. I use beer to keep me cool. 

Cheers!