Kiva Louisville -- now a Kiva Zip city program

Discussion in 'Kiva | Loans That Change Lives' started by KyRoamer, Nov 25, 2014.  |  Print Topic

  1. KyRoamer
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    KyRoamer Gold Member

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    Check out http://www.kiva.org/louisville.

    Louisville is now Kiva's 9th Kiva City program. Last night there was a reception attended by the mayor and many members of Louisville's entrepreneurial and charitable communities. Major banks and others stepped up and pledged support. Premel Shah, Kiva's president, spoke.

    Join me in making a loan to Kentucky entrepreneurs. You can find available loans at https://zip.kiva.org/loans/s/louisville.

    This is a Kiva Zip program and Zip is riskier than regular lending. My Zip experiences have been excellent but overall losses run close to 8% vs 1.2% on non-Zip Kiva loans. But even at 8% average loss, the benefits of Kiva Zip shine through. The main benefit is that the loans are interest free and without the high charges imposed by many micro-finance lenders. To me, that benefit to the borrower is worth my added risk.

    The special thing about the Louisville opportunity is that there are matching funds available for most of the loans. Thus your dollars go twice as far.

    One loan I can recommend as I have watched the business grow since it was formed in 2006 is Gelato Gilberto (https://zip.kiva.org/loans/8341. The Gilberts learned gelato making in Italy, opened a small Louisville store front in Louisville for a summer and then returned to Italy with small children to learn more.

    I have had gelato in Italy and elsewhere in Europe. Gelato Gilberto is among my favorites. Please support this and the other Louisville entrepreneurs as well.

    Mike
     
  2. miles and smiles
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    miles and smiles Gold Member

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    Congrats.
    Will you be applying for a loan? :p :D :rolleyes:
    My default rate on Zip is 2.8% I still have a few loans outstanding, but I doubt that my losses will go above 3%.
     
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  3. KyRoamer
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    KyRoamer Gold Member

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    The 8% rate came from Premel. I only have about $800 in ZIP loans but my defaults to date total $62.45 and I have $250 outstanding. So it looks like on $550 in closed ZIP loans I've lost over 10%. BUT $37.50 of my losses are on one early loan. I no longer lend over $25 on any one loan and hope my long term losses will be under 8%.

    I am planning on growing my ZIP portfolio to about $500 outstanding and my Kiva portfolio to at least $1,000 outstanding, likely more.

    From your avatar it looks like you have a new (very new) investment advisor. I hope the two of you will check out the Kentucky lending opportunities. I plan on applying for a loan in early April in time to practice picking ponies before Derby time in May? Think this will qualify as a agricultural loan and be matched?

    Seriously I hope you guys and gals will join me in a few Kentucky (Louisville if available) loans.
     
  4. miles and smiles
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    miles and smiles Gold Member

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    Just don't take any pictures of you with your bookie. :p
    Heck, even pictures of piles of horse manure will attract more lenders.....:rolleyes:
     
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