My Life as a Banker: An Update

[kiva logo]

As I've described before, I signed up almost a year ago with Kiva to fund micro-loans for people in need. I started with two loans totaling $200 and have now expanded that to eight active loans totaling $475. I mention the amounts to show that a modest investment can really make a dfference to the people seeking these loans. I'm funding eight loans because I really like the micro-loan concept. You can start with a single loan and much less money and still make a difference.

You can view my loan portfolio and find out more about the businesses and people I've lent to here. While there is always a risk of default, the current default rate on my loans is zero, as is the delinquency rate.

As loans are repaid into my Kiva account, I retarget the money to other outstanding loan requests, helping other people. Having made the decision to put my money into the Kiva system, I like the idea that I can use it indefinitely to help more people over time.

If you would like to learn more about Kiva, go here. For more information about microfinance, go here.


Comments:

How do you guarantee that the affiliated lending institutions aren't charging too much interest?

Posted by Curlyman on April 16, 2008 at 03:04 AM EDT #

Curlyman, thanks for the question. The funds are dispersed by a variety of aid and development organizations. They do not charge interest on the loans.

Josh

Posted by Josh Simons on April 16, 2008 at 03:09 AM EDT #

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