ABOUT US
Kiva Kiwis is a something we've set up to support the work of an organisation called Kiva. We have formed "Team Kiwi" on Kiva, run this website, give Kiva gift certificates to people, and organise group loans here in Oamaru.
ABOUT KIVA
Check out Kiva's website, www.kiva.org to see exactly how it works (and here for articles and videos about them), but in short what Kiva does is gather together very small loans from people all around the world to create reasonable sized loans that go to low income entrepreneurs in developing counties.
In doing this Kiva acts as a middleman: the money doesn't go to Kiva but through them. Same with Kiva Kiwis, so the money loaned by everyone actually goes to the entrepreneur. And that means all the money, not one cent is taken out for administration anywhere between you and the recipitant.
The loans are used by people to do things like buy seeds, or farming equipment, or more stock for a shop. I’m sure you can imagine the difference these loans make to peoples lives, and to their families.
AN EXAMPLE
As an example here is a recent laon made through Kiva.and Kiva’s description:
Kiva Kiwis is a something we've set up to support the work of an organisation called Kiva. We have formed "Team Kiwi" on Kiva, run this website, give Kiva gift certificates to people, and organise group loans here in Oamaru.
ABOUT KIVA
Check out Kiva's website, www.kiva.org to see exactly how it works (and here for articles and videos about them), but in short what Kiva does is gather together very small loans from people all around the world to create reasonable sized loans that go to low income entrepreneurs in developing counties.
In doing this Kiva acts as a middleman: the money doesn't go to Kiva but through them. Same with Kiva Kiwis, so the money loaned by everyone actually goes to the entrepreneur. And that means all the money, not one cent is taken out for administration anywhere between you and the recipitant.
The loans are used by people to do things like buy seeds, or farming equipment, or more stock for a shop. I’m sure you can imagine the difference these loans make to peoples lives, and to their families.
AN EXAMPLE
As an example here is a recent laon made through Kiva.and Kiva’s description:
Rose Nuhey in Sunyani, Ghana, took a loan to enable her buy raw materials in bulk to facilitate her production of kenkey- a kind of sourdough dumpling which is a staple food in Ghana.
Rose could not hide her joy when she recounted to Kiva her business success. She says she has improved her customer satisfaction because the quality of her kenkey has improve significantly. "I am very grateful to my lenders. Many thanks to all my lenders for their loving kindness."
Rose could not hide her joy when she recounted to Kiva her business success. She says she has improved her customer satisfaction because the quality of her kenkey has improve significantly. "I am very grateful to my lenders. Many thanks to all my lenders for their loving kindness."
Suy Phally, 48, lives in Kampong Cham, Cambodia with her husband, Chea Ionh. They have four children. She works on her farm land each day and makes less than $US 1 . The family is also aided by the support of three of the children. Two of the children are tailors and one works in a local organization. Together, they are able to provide $US 150 each month for their parents.
Suy Phally loaned $US 1000 to make an investment in her children’s tailoring business. She will use the money to purchase more cloth for their business, so that they can make more clothes. This investment will allow her children to expand their current business. She looks forward to seeing the family’s standard of living improved.
Suy Phally loaned $US 1000 to make an investment in her children’s tailoring business. She will use the money to purchase more cloth for their business, so that they can make more clothes. This investment will allow her children to expand their current business. She looks forward to seeing the family’s standard of living improved.
Kiva Journal update on the loan to Mwanahana Munga in Dar es Salaam :
Mambo from Dar es Salaam! The purpose of this journal is to update you on Mwanahana and the status of her business.
As you are aware, your generosity enabled Mwanahana to receive a loan of US$300.. Mwanahana used this loan to buy soda in bulk for her small soda shop at wholesale prices, and then sold these to her customers at a profit. On a hot day such as the one I visited Mwanahana on, her shop is the place to be! Her shop is the kind of place where you kick back on a plastic chair under a tree, with a local beer in hand, the aroma of roasting ‘mishikaki’ (kebabs made on an open fire) wafting around you, and talk to anyone and everyone who happens to wander by. The extra supplies bought with the loan and more than usual customers on account of the delayed rains (and ensuing hot weather), meant that Mwanahana was able to increase her monthly profits from $40 to $70. This loan particularly helped Mwanahana because she just had just established her store when she took out this loan, and the money enabled her to stock her shop. She has used the extra profits from the store to pay school fees for her children, and for household expenses such as utility bills and the purchase of additional food.
Mwanahana has also requested a second loan of $600 – she intends to use this money to build a second soda shop near her home, thus enabling her to increase her income while saving on rent.
Mambo from Dar es Salaam! The purpose of this journal is to update you on Mwanahana and the status of her business.
As you are aware, your generosity enabled Mwanahana to receive a loan of US$300.. Mwanahana used this loan to buy soda in bulk for her small soda shop at wholesale prices, and then sold these to her customers at a profit. On a hot day such as the one I visited Mwanahana on, her shop is the place to be! Her shop is the kind of place where you kick back on a plastic chair under a tree, with a local beer in hand, the aroma of roasting ‘mishikaki’ (kebabs made on an open fire) wafting around you, and talk to anyone and everyone who happens to wander by. The extra supplies bought with the loan and more than usual customers on account of the delayed rains (and ensuing hot weather), meant that Mwanahana was able to increase her monthly profits from $40 to $70. This loan particularly helped Mwanahana because she just had just established her store when she took out this loan, and the money enabled her to stock her shop. She has used the extra profits from the store to pay school fees for her children, and for household expenses such as utility bills and the purchase of additional food.
Mwanahana has also requested a second loan of $600 – she intends to use this money to build a second soda shop near her home, thus enabling her to increase her income while saving on rent.
ABOUT THE LOAN
Now this loan, like all the loans made through Kiva is:
Administered on the Ground by Local Agencies.
In this case the local microfinance agency is CREDIT, who have, in the last 27 months, used funds loaned through Kiva to support 2731 entrepueurs, lending a total of $US 2,014,425.
Almost Certain to Get Paid Back.
The total value of loans made through Kiva is over $US 38,000,000 of which, overall, 98.35% have been repaid. This particular local agency (CREDIT) has a 0% default rate. So it’s a pretty good bet that you will get your money back. But that small risk is there that you won’t- it is after all a loan.
Also it will take time for your money to come back. Suy Phally will pay the loan back to Kiva monthly over eighteen months, lenders get paid back monthy over that time.
All Going to the Person.
All of the money people loan via Kiva Kiwis goes to Suy Phally. Kiva’s administration costs are covered by donations, the local microfianace organisations on the ground cover their costs from donations and the (low) interest they charge on the loans. Lenders don't recieve any interest- but hey, your doing good here. And Kiva Kiwis runs on love, air and the sweet sweet smell of oily rags.
If this seems good, and you'd like to find out how to make a loan, click here
Now this loan, like all the loans made through Kiva is:
Administered on the Ground by Local Agencies.
In this case the local microfinance agency is CREDIT, who have, in the last 27 months, used funds loaned through Kiva to support 2731 entrepueurs, lending a total of $US 2,014,425.
Almost Certain to Get Paid Back.
The total value of loans made through Kiva is over $US 38,000,000 of which, overall, 98.35% have been repaid. This particular local agency (CREDIT) has a 0% default rate. So it’s a pretty good bet that you will get your money back. But that small risk is there that you won’t- it is after all a loan.
Also it will take time for your money to come back. Suy Phally will pay the loan back to Kiva monthly over eighteen months, lenders get paid back monthy over that time.
All Going to the Person.
All of the money people loan via Kiva Kiwis goes to Suy Phally. Kiva’s administration costs are covered by donations, the local microfianace organisations on the ground cover their costs from donations and the (low) interest they charge on the loans. Lenders don't recieve any interest- but hey, your doing good here. And Kiva Kiwis runs on love, air and the sweet sweet smell of oily rags.
If this seems good, and you'd like to find out how to make a loan, click here
