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Choosing Who To Lend To On Kiva  

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MLW20
(@mlw20)

I was wondering how everyone chose how to pick who to loan to on Kiva? I thought about it a bit and this is how I decided:

After signing up for Kiva I had to figure out who to loan to... Do I just choose someone that others on the Milepoint team are picking? Do I pick someone close to their borrowing goal? I really wasn't sure how to come to this decision with so many people on Kiva having legitimate needs for the loan.

I decided to set some criteria for who I would choose and decided it would be based on three things:
[LIST=1]
[*]They need to live in a country that I've been to (not so hard- I've been to around 50 countries)
[*]They should be about half way to their borrowing goal
[*]I had to feel that the Kiva loan would really change things for them. (I wasn't looking for a successful person looking to expand their business)
[/list]
I narrowed down my search to people living in Colombia, Kenya and Uganda. I started reading lots of similar stories which made it hard for me to choose who to pick until I came across Jose Octavio Henao.

I made a longer post about this to my blog:
http://michaelwtravels.blogspot.com/2012/02/choosing-who-to-lend-to-on-kiva-win.html

Gold Ruby
Check out my blog- MichaelWTravels

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Posted : February 16, 2012 12:20 pm
miles and smiles
(@miles-and-smiles)

You might want to check out this thread:
http://milepoint.com/forums/threads/how-to-chose-loans-and-make-lending-decisions.11414/

Relax .............. smile.............. enjoy................... and be grateful 🙂

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Posted : February 16, 2012 1:05 pm
MLW20
(@mlw20)

miles and smiles, post: 1212397, member: 1919 wrote: You might want to check out this thread:
http://milepoint.com/forums/threads/how-to-chose-loans-and-make-lending-decisions.11414/

Thanks for the tip. Didn't realize there was a thread dedicated to the decision making process. I came up with my own criteria!

Gold Ruby
Check out my blog- MichaelWTravels

ReplyQuote
Posted : February 16, 2012 11:02 pm
miles and smiles
(@miles-and-smiles)

MLW20, post: 1214020, member: 1249 wrote: Thanks for the tip. Didn't realize there was a thread dedicated to the decision making process. I came up with my own criteria!

Indeed, most of us come up with our criteria. But sometimes it's helpful to hear other perspectives. I've been lending for two years, and have learned a lot from my mistakes and from other's ideas.

Relax .............. smile.............. enjoy................... and be grateful 🙂

ReplyQuote
Posted : February 16, 2012 11:14 pm
MLW20
(@mlw20)

miles and smiles, post: 1214044, member: 1919 wrote: Indeed, most of us come up with our criteria. But sometimes it's helpful to hear other perspectives. I've been lending for two years, and have learned a lot from my mistakes and from other's ideas.

Are there mistakes to be made when lending on Kiva? I've been hearing some mixed opinions since starting my contest.

Gold Ruby
Check out my blog- MichaelWTravels

ReplyQuote
Posted : February 16, 2012 11:54 pm
miles and smiles
(@miles-and-smiles)

MLW20, post: 1214117, member: 1249 wrote: Are there mistakes to be made when lending on Kiva? I've been hearing some mixed opinions since starting my contest.

I didn't pay attention to the risk factor of field partners when I started. If I had I might have been able to avoid a default. Also, check out kivalens.org. It allows you to search with some different criteria.

Relax .............. smile.............. enjoy................... and be grateful 🙂

ReplyQuote
Posted : February 17, 2012 12:32 am
kellio
(@kellio)

Michael Thank you for being one of the bloggers that supported the Kiva blogger challenge!

ReplyQuote
Posted : February 17, 2012 12:41 am
MLW20
(@mlw20)

kellio, post: 1214203, member: 163 wrote: Michael Thank you for being one of the bloggers that supported the Kiva blogger challenge!

You're welcome! My contest ends tomorrow night. I was hoping that more MPers would've entered!

Gold Ruby
Check out my blog- MichaelWTravels

ReplyQuote
Posted : February 17, 2012 1:16 am
spesalvi
(@spesalvi)

MLW20, post: 1214283, member: 1249 wrote: You're welcome! My contest ends tomorrow night. I was hoping that more MPers would've entered!

better chance for ppl like me;):p:D

ReplyQuote
Posted : February 17, 2012 4:11 am
MLW20
(@mlw20)

spesalvi, post: 1214892, member: 39014 wrote: better chance for ppl like me;):p:D

I like your thinking! 🙂

Gold Ruby
Check out my blog- MichaelWTravels

ReplyQuote
Posted : February 17, 2012 4:14 am
jbcarioca
(@jbcarioca)

MLW20, post: 1214117, member: 1249 wrote: Are there mistakes to be made when lending on Kiva? I've been hearing some mixed opinions since starting my contest.

Especially with improvements in Kiva processes it is hard to say there are mistakes. From the "How to Choose..." thread and on Kiva itself there is lots of information about risks and other factors to consider. Some of us are quite anal-compulsive about this process and others are fans of auto-lending with minimal criteria. Neither is 'wrong' but the risks and direction is different. Thus between Kiva and Kivalens you have some quite exhaustive criteria that you can use if you wish to.

I tend towards the anal-compulsive side of lending, but that comes from being in the micro-lending arena for 45 years.

ReplyQuote
Posted : February 17, 2012 6:51 am
MLW20
(@mlw20)

jbcarioca, post: 1215020, member: 4208 wrote: Especially with improvements in Kiva processes it is hard to say there are mistakes. From the "How to Choose..." thread and on Kiva itself there is lots of information about risks and other factors to consider. Some of us are quite anal-compulsive about this process and others are fans of auto-lending with minimal criteria. Neither is 'wrong' but the risks and direction is different. Thus between Kiva and Kivalens you have some quite exhaustive criteria that you can use if you wish to.

I tend towards the anal-compulsive side of lending, but that comes from being in the micro-lending arena for 45 years.

Thanks for the info! I am very new to this so I am really not too sure how it all works. Maybe you could take a look at who I loaned to and let me know what you think?

Gold Ruby
Check out my blog- MichaelWTravels

ReplyQuote
Posted : February 17, 2012 12:05 pm
jbcarioca
(@jbcarioca)

MLW20, post: 1215202, member: 1249 wrote: Thanks for the info! I am very new to this so I am really not too sure how it all works. Maybe you could take a look at who I loaned to and let me know what you think?

You have established clear and logical criteria for your loans. You thought about how you wanted to do it. The good thing about Kiva lending is that such criteria are likely to be successful for you. All the rest of the criteria in the thread are about adding supplementary credit and risk analysis. Not everyone wants to or needs to do that. As time passes you'll probably continue to refine your approach. Good.

Above all, don't become anxious or think you must know things you do not know. That is not true. As with all of life, the more you do something the better you will become at doing it. That is true for Kiva lending too. Time will help you know more. In the meantime you are exercising good discipline and thinking about how you want to do this. Now, what's not to like about that?

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Posted : February 17, 2012 12:22 pm
MLW20
(@mlw20)

jbcarioca, post: 1215239, member: 4208 wrote: You have established clear and logical criteria for your loans. You thought about how you wanted to do it. The good thing about Kiva lending is that such criteria are likely to be successful for you. All the rest of the criteria in the thread are about adding supplementary credit and risk analysis. Not everyone wants to or needs to do that. As time passes you'll probably continue to refine your approach. Good.

Above all, don't become anxious or think you must know things you do not know. That is not true. As with all of life, the more you do something the better you will become at doing it. That is true for Kiva lending too. Time will help you know more. In the meantime you are exercising good discipline and thinking about how you want to do this. Now, what's not to like about that?

Thanks for checking out my loan and the encouraging words!
I see that the loan I chose has already made it a lot closer to their goal!

Gold Ruby
Check out my blog- MichaelWTravels

ReplyQuote
Posted : February 17, 2012 1:09 pm