Auto lending on Kiva

Discussion in 'Kiva | Loans That Change Lives' started by MissBurrill, Sep 24, 2011.  |  Print Topic

  1. MissBurrill
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    MissBurrill Gold Member

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    I have been looking at the auto lending settings and it had me thinking I should set it to reloan if I don't log in for a year. I know I'll keep reloaning but I've heard that eventually we will all die. I'm thinking auto loaning would be a great legacy we could all leave.

    MissB
     
  2. jbcarioca
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    jbcarioca Gold Member

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    I never thought of that. However, I am putting Kiva in my will as I have already done with MSF/DWB. My assets will be better used by these two than I suspect they would be by my relatives, who do not need more money anyway.
     
  3. miles and smiles
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    miles and smiles Gold Member

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    Since this topic has come up in the past few days, I am posting some info on Kiva's auto-lending feature. Hopefuly those who have used auto-lending will chime in with more info and experiences.
    All info below comes from http://www.kiva.org/help

    What is Auto-Lending?
    Kiva’s Auto Lending tool ensures that you never have unused Kiva Credit sitting idle in your Kiva account when instead it could be loaned to a Kiva borrower.

    When you turn on Auto Lending, our system automatically makes loans for you using the Kiva Credit already in your account. The loans it makes are only triggered by another Kiva Lender making a loan to a borrower that matches the criteria you select. This puts your idle Kiva Credit to work, but ensures that people are still the driving force behind loans made on Kiva.

    You can turn on Auto Lending by logging into your Kiva account and clicking "My Portfolio" and then "My Account". At the left of the page under "My Account," you'll see "Auto Lending". Click on this link which will take you to the page where you can enable Auto Lending.

    Then, use the tool below to add your criteria. You can add criteria as follows:

    Keyword: This is a space where you can enter any keyword, just like you would in the search box on the “Lend” page. For example, entering “widow” would select any loans that contain the word “widow.”

    Country: To add a country to your preferred search criteria, click the “Select Countries” link. Check the box next to any of the countries you prefer and then click "Ok" to finish.

    Business Sector: To add a business sector to your preferred search criteria, click the “Select Sectors” link. Click the check box next to the sectors that you prefer and then click "Ok" to finish.

    Minimum Risk Rating: Click minimum risk rating of the loans the Auto Lender can make. For example, clicking on the second star, will ensure that the Auto Lender will make loans that have a risk rating of two stars or more.

    Gender: To select your preferred gender, click the radio button next to the item which matches your preference.

    Below the selection criteria, you will see an example loan and the percentage of all fundraising Kiva loans that match the criteria you selected. The higher the percentage listed, the quicker you can expect your Auto Loans be made.

    When you're done selecting your criteria, click "Save Preferences."

    Will the Auto Lender automatically make a donation to Kiva's operating expenses?
    Kiva relies on the support of lenders like you to help cover the cost of running Kiva. Every time you make a loan on Kiva, we ask if you’d like to donate to help offset our operating expenses. This step is included on loans made via Auto Lending as well.

    Click the drop down box beneath "Donate this amount to Kiva's operating costs with each loan:" and select the amount you’d like to contribute from the list. You can select 0%, 5%, 10%, 15% or 20%.

    When you're done, click "Save Preferences" at the bottom of the page to save your changes.


    Can I have the Auto Lender lend more than $25 at a time?
    The Auto Lender will make loans in $25 increments by default. However, if you would like the Auto Lender to make loans larger than $25 you can do so by going to the Auto Lending page (under "My Portfolio" and then "My Account").

    Under the header "Limit my Auto Loans to:" you'll see a check box next to "Only $25 per loan." Uncheck that box to ensure that the Auto Lender can make loans in increments of more than $25.

    When you're finished, click "Save Preferences" at the bottom of the page to enable this setting.


     
    IDGflygirl, jbcarioca, nime01 and 5 others like this.
  4. MissBurrill
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    MissBurrill Gold Member

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    After starting this thread in September I have finally turned on auto lending. I set it to loan when I have not logged on for one year. I chose agriculture which is one of my favourite sectors.

    Has anyone else turned on auto lending?
     
  5. nime01
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    nime01 Gold Member

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    I have activated auto lending for Nepal loans.
     
  6. canucklehead
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    canucklehead Gold Member

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    Nepal for me too! I also included loans to Haiti.
     
  7. jbcarioca
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    jbcarioca Gold Member

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    I have turned it on, but only for several children for whom I am managing their loans. The criteria are so flexible that it does work easily. For me I really want to make more specific choices, but then my portfolio ius a bit larger than are theirs. I think auto-lending is a great way to ensure not letting idle balances build.
     
  8. YULtide

    YULtide Gold Member

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    I autolend to Nepal, too. I just need to remember to keep some credit in the account. :D

    Using it after a specified time is an excellent idea.
     
  9. MissBurrill
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    MissBurrill Gold Member

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    That's a good idea. I was looking at auto loaning from the perspective of a legacy but to catch expiring loans is a great idea!
     
  10. jbcarioca
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    jbcarioca Gold Member

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    We should start a thread for suggestions to be promoted at the DO. This is an excellent idea, I agree.
    and so does MissBurrill...
    I'll start the thread now.
     
  11. horseguy

    horseguy Gold Member

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    I use auto-lending extensively. Some months I'll let auto-lend take care of reloaning all the month's repayments. The only filter I have is the field partner can't be in the bottom 25% or so.
     

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