So a few times I have come across the site www.kiva.org, and thought it looked pretty cool. Basically its a site that allows you to lend money to people living in poverty, they use the money to make more money (they buy some goats to sell the milk, or some fertilizer for their crops, etc), repay their loan, and then you can lend the money back out to someone else.

Any of you ever try it? What did you think?

I think that could be money better spent on credits.

While this seems totally heartless.. Agreed! But no, really. I'm sure if I had the money for something like this, I may. But it really just seems like a scam..

A scam publicly endorsed by Bill Clinton?

I'm not saying it isn't, but if so, it's definitely not fly-by-nite.

Kiva isn't a scam (or if it is, the third sector is pretty well fooled by it), but it did have some transparency issues back in October/November, related to the fact that their "model" of lending was displayed and explained as direct from lender (you) to the entrepreneur; however, the model is in reality a bit more indirect. Your money will not go directly to the specific person who requested the loan, but to the microfinancing institution that disbursed the original loan.

http://www.nytimes.com/2009/11/09/business...ml?_r=2&hpw
http://blogs.cgdev.org/open_book/2009/10/k...at-it-seems.php
http://blogs.cgdev.org/open_book/2009/10/m...der-replies.php

Full disclosure: I work for a non-profit that is currently exploring the possibilities of incorporating microfinancing into some of our projects.

Well... 98% of the time you get your money back... could always go to credits later...



It really does, but I've looked into it a lot, and its been covered by a ton of media, has been used by famous people (Bill Clinton, I think Oprah - and you don't mess with Oprah), and all the information it gives seems consistent with itself.

Anyways, I decided to give it a whirl, I'll let you know if all of my money vanishes

Very true.

Her original show has been running since 1986. It's slated to end in 2011, possibly because the Illuminati have decided that she can't be allowed to control too many thralls.

She's getting an "Opera" channel.

A whole damn channel...

ugh.

So do you know what the people have used your money for, Acrune? I'm really interested.

One is selling livestock, one is buying paper for her photocopy business, one is buying ingredients for her food stall, and one is to a group to buy underwear to resell

You can see details on my profile: http://www.kiva.org/lender/david3702

I haven't heard anything beyond the initial description of what they want the money for. I think I read that they send out emails on how they did with the money, but I'm not sure of that. The loan is repaid over the course of a year or two, so I doubt I'll be hearing anything for a while, if I do.

Reselling underwear? They weren't Japanese, were they?

From the Dominican Republic

Ah, that's less creepy then.