Does anybody use "Kiva" here?

[nytemare]

I just did my first loan yesterday on Kiva, a website to give loans to entrepreneurs in developing countries. You can start with a loan as low as $25. You don't get any interest, other than the reward of helping someone.

I think I really like the idea for this website.

http://www.kiva.org/app.php

There is also a website called lendingclub.com, a peer-to-peer lending site that does pretty much the same thing, except that investors get an average of 10% interest on short term loans. Really, it is much better than a savings account, and you are helping out a person who doesn't want to use a bank to get a small loan.

www.lendingclub.com

[GardeningGal]

1. Yes, I've done several Kiva loans.

And someone set up a DU group there as well. Here's the link for anyone interested.

http://www.kiva.org/community/viewTeam?team_id=3013

[nytemare]

8. Thank you, I signed up to the group.

I am also a member of the Atheist group, and the Flying Spaghetti Monster group, LOL.

All in the name of charity!

[CrownPrinceBandar]

2. I've been interested in doing this.......

I'd just like to scrape together some extra scratch before I do.

[nytemare]

9. I am starting small.

It appears most of the loans are under 12 months, so I will re-invest when the loans get paid off.

[philosophie_en_rose]

3. I do it through work.

It's really easy to sign up and you can use the same money to help new people, as the loans are repaid. I've had no problems at all.

[nytemare]

4. I really like reading people's stories.

I think I will give $25 to someone new each paycheck. That money will go a lot further where I am sending it than here.

:D

[seemunkee]

5. My wife and I each have a loan out

and gave my kids each a certificate for $25 to loan.

[nytemare]

6. That's very nice!

I see this sort of website going a long way. I think microlending is the wave of the future. Heck, lendingclub.com averages 10% for their investors, and the loans go for 3 years. That's much better than a savings account or CD, and the default rate is low.

[kwassa]

7. Kiva