17 November 2010

My Kiva Update November 2010

I’ve just made my 11th Kiva loan today. This time I loaned money to someone in Sierra Leone who sells clothing. I have now made loans to people in eleven different countries across the world.

Repayment has been mostly on time as well. Three of my loans have been fully repaid and only one of the people I loaned to is having trouble making payments on time, but they are eventually getting made.

At this point I have now loaned more money than the average Kiva user. I haven’t lost any money yet while the average user has lost $1.52. So far, so good.

I’m now seeing more loans for being offered for people living in the United States. At first I didn’t want to see that on Kiva, but I’ve changed my mind. Any micro-lending should be available on the site, if it happens to be someone from the USA people who are interested have one more option for lending. It’s just when I see someone form America, Canada, or Western Europe needing a loan I just begin wondering why they can’t get a regular loan.

When I’m looking for loans to make I won’t loan to groups. I personally prefer to read about an individual and their plan, not a mass of people. That’s me, but I’m glad they have groups available for those who would like to loan to groups.

So, anyway, 11 loans down and many more to make in the coming months. I still have to do some research on this whole micro-financing thing, but I do know that the individuals who have received these loans are grateful and nearly all of them manage to pay the loan back.

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