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what is kiva

post #1 of 9
4/12/12 at 5:05pm
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hello i have been reading up on this kiva loans and i was hoping i could get some help as to find out more about it any link would be great or even your opinion on it thanks
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post #2 of 9
4/12/12 at 5:12pm
http://www.overclock.net/t/881802/understanding-kiva

There it tells you all about it smile.gif.

Essentially what happens is you put money in your kiva account and make a loan to a person. Then the person you loaned money to will pay you back, and you can use that money again to loan to another person, and so on and so forth. Also, you can withdraw that money after it's paid back, to use it for something else. thumb.gif
Edited by 5prout - 4/12/12 at 5:20pm
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post #3 of 9
4/12/12 at 5:28pm
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ok i will read that link... so you make money or just for the greater good?
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post #4 of 9
4/12/12 at 5:35pm
just for the greater good thumb.gif
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post #5 of 9
4/12/12 at 5:39pm
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ok do i need credit card or can i use bank/paypal to put first 25 in sorry about question dont want to creat account right now for no reason
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post #6 of 9
4/12/12 at 6:04pm
Quote:
Originally Posted by skyline_king88 View Post

ok do i need credit card or can i use bank/paypal to put first 25 in sorry about question dont want to creat account right now for no reason

You can use either a credit card or paypal to put in your first 25 dollars. However to withdraw it, you have to have a Paypal account because that is how they handle all of there financial transactions.
Edited by 5prout - 4/12/12 at 6:09pm
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post #7 of 9
6/2/12 at 9:01pm
I'm sorry if I'm skeptical but this bothers me:

5) Entrepreneurs Repay Their Loans

The Field Partner collects repayments from Kiva entrepreneurs as well as any interest due and lets Kiva know if a repayment was not made as scheduled. Interest rates are set by the Field Partner, and that interest is used to cover the Field Partner's operating costs.


For something that is supposed to be charitable, someone is profiting from this. I don't exactly like the idea of people profiting from interest, but then they then turn around and try to convince the ones making the loans its charitable, while someone on the other end is profiting on interest for money that someone else loaned. Sounds like a racket to me.

And this isn't directed at OCN, its directed toward Kiva.
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post #8 of 9
6/2/12 at 11:22pm
Quote:
Originally Posted by chaosblade02 View Post

I'm sorry if I'm skeptical but this bothers me:
5) Entrepreneurs Repay Their Loans
The Field Partner collects repayments from Kiva entrepreneurs as well as any interest due and lets Kiva know if a repayment was not made as scheduled. Interest rates are set by the Field Partner, and that interest is used to cover the Field Partner's operating costs.
For something that is supposed to be charitable, someone is profiting from this. I don't exactly like the idea of people profiting from interest, but then they then turn around and try to convince the ones making the loans its charitable, while someone on the other end is profiting on interest for money that someone else loaned. Sounds like a racket to me.
And this isn't directed at OCN, its directed toward Kiva.

Good point.... But you have to understand. There are ALWAYS operating costs.
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post #9 of 9
6/13/12 at 12:30am
Agreed. Their field agent has to eat too. A profit would imply overhead.
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