Kiva: The money multiplier effect

vidurgupta — Sun, 22 Mar 2009 16:26:08 +0000

It has almost been a year since I started lending at Kiva.org and it would be fair to say I can come a long way. The most interesting change that Kiva folks made during this time is that instead of crediting the loan repayments to lender’s account at the end of loan term, they do it as the repayments come-in. This has had a real money multiplier effect. Let me explain.

I funded my Kiva account with $500 last May. Of this, I have donated $55 to Kiva. And I have made loans worth $800 which as almost twice my investment and all this in less than a year I hope I am doing my part in helping the global economy.

I have made 22 loans till date out of which 2 have been repaid and no defaults. My Kiva page (link) has more info. I encourage everyone to explore micro-lending, as a lender and/or loan seeked. I believe it is way of helping people becoming self-sufficient and conribute to the society.

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Kiva: The money multiplier effect