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Discussion in 'Kiva | Loans That Change Lives' started by jbcarioca, Feb 16, 2012.
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or trickling, as is my case.
Yesterday, Kiva crossed $1 billion in loans to students, farmers, women, refugees and so many more entrepreneurs around the world.
This milestone wouldn’t have been possible without our passionate community of lenders, volunteers, partners, staff and supporters like you. Your dedication to creating a better world and your willingness to share Kiva’s mission powered this movement from day 1 to make this moment a reality.
New country on the list (Bhutan). I didn't catch a loan -- at least not yet -- but I know Bob Harris did.
Two days to credits!
Thanks for the reminder!
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Repayment day went well -- picked up new loans today. Two days before I leave for the Kiva Lender Summit.
Enjoy the Summit. Say hi to everyone there, especially Taylor!
Looking forward to your report when you get back.
Mid-day Summit Update -- there's unlikely to be another Bhutan loan unless the existing social enterprise needs more funds after paying off the first.
I've spent much of the morning talking to Taylor -- she was one of the staffers on the Kiva Lender (Mexico) Field Trip in February.
Of the 1.6 million Kiva lenders, a disproportionate amount of lending is done by a very small fraction of lenders. The number of folks lending $10,000 or more is measured in the "few hundreds". One of the big pushes is taking dormant lenders / one-time lenders and encouraging those folks to become more engaged.
There's a filter to see loans favorited by the volunteer translators. It's not a selectable option on the website, so a user has to know how to browse/link directly.
That's absolutely key. I think the teams can help (and do) but I'd be interested to hear how Kiva plans to encourage more engagement.
Really, with the magic of relending it's not hard to get to a substantial total, especially if a lender puts in a little new money regularly. $10,000 is 400 loans, and over time that's achievable for almost anyone.
Heck, even an infrequent "low-dollar" lender like me is almost $4K; Peach probably isn't far behind.
"Almost $4k" isn't an infrequent, low-dollar lender. When I went on the Lender Field Trip, you wouldn't believe how astounded the entrepreneurs were that many folks they didn't know chipped in $25 (or more) to front the funds to make their lives better.
Curious what the median is for lending. If $10k is top 1%, $4k is definitely way up there. It's definitely a healthy portfolio, and has helped change many lives.
Whatever the median is, the average Kiva portfolio is $379.44 lent and $34.13 outstanding.
Next month, I will hit 17 as the number of times my funds have been lent on Kiva. That is, every dollar I've put in will have been lent 17 times (and repaid 16). My favourite kind of recycling.
I'm just shy of 10x on recycling (I like that term!)
Means are really distorted by the higher frequency lenders -- I would be willing to wager some donuts that the median and modal portfolio is $25. For instance, I'm far from the biggest lender on the team but a grouping of me plus 250 one-time lenders still exceeds the "average" portfolio.
Looking forward to Credit day in just 2 days.