Meaningful Lending Becomes Thoughtful Giving February 4, 2010 11:10 PM   Subscribe

3 months. $5,000 more, lent via Kiva. Go team.

On the power of love alone, the Metafilter Kiva group has lent $5,000 more in the last three months, bringing our new total to over $15,000. That's no small plate of beans - and the team isn't even a year old yet! So, thanks to all 170 of you, especially parmanparman for his initiative in getting things off the ground, and the mods for their ongoing support.

And if you haven't been able to join the team yet, there's no time like the present - we're just 12 loans short of 500!
posted by allkindsoftime to MetaFilter-Related at 11:10 PM (15 comments total) 2 users marked this as a favorite

Thanks for the reminder, I just joined.
posted by fixedgear at 3:13 AM on February 5, 2010

I just got to the site and think this is wonderful. Joined and made my first loan!
posted by Hiker at 4:28 AM on February 5, 2010

posted by BeerFilter at 6:03 AM on February 5, 2010

BeerFilter, Kiva updated their site to clarify the pre-disbursement thing, as noted in a subsequent post.
posted by somanyamys at 6:32 AM on February 5, 2010 [1 favorite]

posted by BeerFilter at 7:04 AM on February 5, 2010

I just joined and made my first loan also. GO SAINTS!!!
posted by govtdrone at 7:29 AM on February 5, 2010

posted by nomisxid at 7:54 AM on February 5, 2010

Been meaning to try this for a while -- thanks for the extra motivation. Just made loan #504!
posted by cgg at 8:55 AM on February 5, 2010

I threw $25 at it. I didn't see where I get to set my interest rate though? I mean I want a steep vig. I mean, how else am I expected to make a profit?

I kid! I kid!

This is a bit weird to me. I didn't read everything, and don't really care if I ever actually get the money back to regive or whatnot, but I didn't see anything telling me how long such a thing will take, or if once I am paid back I can take my money and run. Again, not that important, and I didn't spend any time looking, I just kind of expected it at some point in the donation process.

Also, I had a $100 payment in my paypal account that I hadn't accepted. So cool!
posted by cjorgensen at 10:20 AM on February 5, 2010

I didn't see anything telling me how long such a thing will take

From the date at which the loan has been fully raised, the time before it's returned to you (assuming everything goes well and the loanee doesn't default or whatever) is whatever the Repayment Term is that is mentioned on the loan you give to. If you go to the very bottom of a loan that has been fully raised, there's also a detailed repayment schedule.
posted by tybeet at 11:47 AM on February 5, 2010

Yep, and then the money is yours to loan out again as you see fit.
posted by allkindsoftime at 12:50 PM on February 5, 2010

Cool. Looks like it'll be almost two years before I see my money again.

It'd be kinda cool if you could just out-and-out give someone some cash too. Like say they want $1,000 to build a fence so they can raise some chickens. People could lend or give so the guy ends up only owing $600 on the $1,000.

I'm still looking around on the site. I couldn't decide who to fund, so I just funded the one at the top. Next time I think I'll just find the smallest loan and start there.
posted by cjorgensen at 1:43 PM on February 5, 2010

My loan just got fully funded. Yay!
posted by cjorgensen at 2:27 PM on February 5, 2010

This was on my to do list. Now on my done list.
posted by meech at 3:53 PM on February 5, 2010

Thanks for reminding me -- hadn't logged in for a while, so I had $87 dollars in my account waiting to be re-invested. Altogether I've made 18 loans now -- only 1 has gone totally bust. Few are "slow" paying, but in general it's nice to see where the money goes although I choose my recipients pretty randomly.
posted by zeikka at 4:37 PM on February 5, 2010

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