Comments on: Nerdfights and Microloans: Make a difference in the US economy with $25 and your social network http://www.socialmeteor.com/2009/06/15/how-you-can-make-a-difference-in-the-us-economy-with-25-and-your-social-network/?utm_source=rss&utm_medium=rss&utm_campaign=how-you-can-make-a-difference-in-the-us-economy-with-25-and-your-social-network Make an Impact with Social Media Sat, 28 Jan 2012 21:33:00 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Facebook Philanthropy: Using Social Networks for Social Change | Social Meteor http://www.socialmeteor.com/2009/06/15/how-you-can-make-a-difference-in-the-us-economy-with-25-and-your-social-network/#comment-1762 Facebook Philanthropy: Using Social Networks for Social Change | Social Meteor Mon, 27 Sep 2010 12:03:21 +0000 http://www.socialmeteor.com/?p=2359#comment-1762 [...] year ago, I blogged about NerdFighters. This is a timely update. John and Hank give a brief overview of the first three years of the [...] [...] year ago, I blogged about NerdFighters. This is a timely update. John and Hank give a brief overview of the first three years of the [...]

]]> By: Troy Janisch http://www.socialmeteor.com/2009/06/15/how-you-can-make-a-difference-in-the-us-economy-with-25-and-your-social-network/#comment-677 Troy Janisch Wed, 26 Aug 2009 23:50:28 +0000 http://www.socialmeteor.com/?p=2359#comment-677 I recommend contributing small amounts ($25) to several loan requests, instead of funding one loan request with a larger amount. This mitigates your risk. Almost all Kiva microloans are repaid -- but some aren't. I experienced the first default recently, which was accompanied by the following notice from Kiva: <blockquote>"Thank you for supporting an entrepreneur in Dominican Republic. Your loan to the business or businesses above will not be repaid in full and is now considered defaulted. To learn about the reasons for this default, please visit FSMA’s Field Partner page. We have done our best to provide comprehensive details about why your loan defaulted and what Kiva is doing to help prevent situations like this from happening in the future. A vast majority of our Field Partners are healthy organizations that are very capable of administering your loans with the highest integrity."</blockquote> <strong>Note: </strong>The entrepreneur wasn't at fault with the defaulted loan. Kiva’s Field Partner, FSMA, is ceasing operations and is unable to repay debt to Kiva. Therefore, all of FSMA’s active loans have been defaulted and the partnership is now closed. If Kiva is able to collect further funds, they will be repaid proportionally to affected FSMA lenders on a pro-rata basis. All lenders will be notified of any repayments by email. I recommend contributing small amounts ($25) to several loan requests, instead of funding one loan request with a larger amount. This mitigates your risk. Almost all Kiva microloans are repaid — but some aren’t. I experienced the first default recently, which was accompanied by the following notice from Kiva:

“Thank you for supporting an entrepreneur in Dominican Republic. Your loan to the business or businesses above will not be repaid in full and is now considered defaulted. To learn about the reasons for this default, please visit FSMA’s Field Partner page. We have done our best to provide comprehensive details about why your loan defaulted and what Kiva is doing to help prevent situations like this from happening in the future. A vast majority of our Field Partners are healthy organizations that are very capable of administering your loans with the highest integrity.”

Note: The entrepreneur wasn’t at fault with the defaulted loan. Kiva’s Field Partner, FSMA, is ceasing operations and is unable to repay debt to Kiva. Therefore, all of FSMA’s active loans have been defaulted and the partnership is now closed. If Kiva is able to collect further funds, they will be repaid proportionally to affected FSMA lenders on a pro-rata basis. All lenders will be notified of any repayments by email.

]]> By: Troy Janisch http://www.socialmeteor.com/2009/06/15/how-you-can-make-a-difference-in-the-us-economy-with-25-and-your-social-network/#comment-409 Troy Janisch Thu, 18 Jun 2009 09:42:59 +0000 http://www.socialmeteor.com/?p=2359#comment-409 Jeremy got his microloan too: "This is an update on your loan to Jeremy in United States. Thank you for your loan. It has been disbursed to Jeremy by Opportunity Fund in United States. We are excited to watch this business grow. Over the 36 months of this loan, Opportunity Fund will be collecting repayments from this entrepreneur and posting progress updates on the Kiva website." Jeremy got his microloan too:

“This is an update on your loan to Jeremy in United States. Thank you for
your loan. It has been disbursed to Jeremy by Opportunity Fund in United
States. We are excited to watch this business grow. Over the 36 months
of this loan, Opportunity Fund will be collecting repayments from this
entrepreneur and posting progress updates on the Kiva website.”

]]> By: Troy Janisch http://www.socialmeteor.com/2009/06/15/how-you-can-make-a-difference-in-the-us-economy-with-25-and-your-social-network/#comment-397 Troy Janisch Wed, 17 Jun 2009 11:08:45 +0000 http://www.socialmeteor.com/?p=2359#comment-397 Joseph got this microloan: "This is an update on your loan to Joseph in United States. Thank you for your loan. It has been disbursed to Joseph, consisting of Joseph by ACCION USA in United States. We are excited to watch this business grow. Over the 15 months of this loan, ACCION USA will be collecting repayments from this entrepreneur and posting progress updates on the Kiva website." Joseph got this microloan:

“This is an update on your loan to Joseph in United States. Thank you for
your loan. It has been disbursed to Joseph, consisting of Joseph by
ACCION USA in United States. We are excited to watch this business grow.
Over the 15 months of this loan, ACCION USA will be collecting
repayments from this entrepreneur and posting progress updates on the
Kiva website.”

]]> By: Troy Janisch http://www.socialmeteor.com/2009/06/15/how-you-can-make-a-difference-in-the-us-economy-with-25-and-your-social-network/#comment-378 Troy Janisch Sat, 13 Jun 2009 08:17:34 +0000 http://www.socialmeteor.com/?p=2359#comment-378 You follow the result of the 30-day goal by visiting the social media Kiva team at http://www.kiva.org/team/socialmeteor You follow the result of the 30-day goal by visiting the social media Kiva team at http://www.kiva.org/team/socialmeteor

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