2009.111: Kiva to offer US businesses loans? Why I'm skeptical
I've been into Kiva in a big way for over two years. In the heady days
when Talkshoe.com paid podcast hosts, I put all the funds gained into
Kiva. Today I've funded over 200 loans. I've given away a lot of
certificates and I'm pleased that young children are discovering with
their parents how we can help others in the world to help themselves.
Occasionally, I get a comment in a blog post that we should be focusing
on our own country's poor. I don't agree, nor do I see Kiva as "helping
the poor". One of the most beautiful aspects of Kiva is that each loan
helps a business grow, which in turn usually will help a lot of people
including the beneficiary of the loan, possible employees but especially
the family they are supporting and their entire community. I don't see
this as a possible result in the United States for various reasons
including the relative size of such communities.
Kiva generally works best with groups of people: 8 women who know how to
sew, for example. These women generally promise each other to be
responsible and pay back the loan, in effect vouching for each other.
Again, I don't see this happening in a big way in the USA. Last time I
looked at the microlending site Prosper.com - which is currently closed
waiting for SEC approval - many of the loan requests were frivolous, a
new TV compared to a new cow on Kiva. Because we have the choice of who
we lend money to, I'd choose the farmer or the ladies selling their
sewing skills and I'm happy to get as interest the potential goodwill
or, if nothing else, the knowledge that I've made a small difference.
Kiva's slogan is no exaggeration:
Loans that Change Lives
Now back to my erratic memories.