No Government Funding Needed

[dawgball]

Just ambition.

http://notethisdown.posterous.com/41mil-raised-through-kiva-micr

If you have not heard about or are not participating in Kiva.org yet, you should. Well, you should when they find more ambitious people around the world.

I've circulated a rotating $250 on there for quite some time, and I love finding new opportunities to "invest" (with no return except original capital). My normal donations are $25 or $50 to each.

This is true human spirit at its best!

 

[dawgball]

Should have posted this as well: http://kiva.org/

If you have questions or want clarification on what Kiva does, post your questions here. It really is great stuff.

 

[The Sponge]

Dawg i sent the five people on my list each a dollar. I wonder how far i am on this list?

 

[The Sponge]

Seriously this looks great but what happens when people start defaulting on loans? Eventually someone will not get their money back no?

 

[dawgball]

Seriously this looks great but what happens when people start defaulting on loans? Eventually someone will not get their money back no?

Certainly happens. I have not yet been on that side. I started with only putting $50 total in because I was very skeptical. I think my first few loans were for $10.

There is a "monitoring" aspect of it due to the social aspect of it.

To me, a "chance" of not getting my money back is better than a 0% chance of seeing a return on it as in most (NOT ALL) welfar recipients.

 

[The Sponge]

Certainly happens. I have not yet been on that side. I started with only putting $50 total in because I was very skeptical. I think my first few loans were for $10.

There is a "monitoring" aspect of it due to the social aspect of it.

To me, a "chance" of not getting my money back is better than a 0% chance of seeing a return on it as in most (NOT ALL) welfar recipients.

If i borrowed from this and made a successful business from this money i think i would always keep donating. Maybe that is how they stay afloat.

 

[dawgball]

If i borrowed from this and made a successful business from this money i think i would always keep donating. Maybe that is how they stay afloat.

Remember, though that many the businesses on here are looking to make $50 a month to support their family.

There are other micro-finance sites that would be better suited for someone in the states looking for this type of funding. It's not a new concept. But the Kiva approach is solely to third-world type countries where a very little bit of money in our standards goes an extremely long way.

IMO, Kiva stays afloat due to people caring about people when they see personal drive.