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View Diary: Microcredit: be a Venture Capitalist. (185 comments)

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  •  Instead of tipping , please click on the link. (4.00)
    Kiva's

    Thanks.

    "The bicycle, the bicycle surely, should always be the vehicle of novelists and poets" , Christopher Morley

    by Chris Kulczycki on Thu Oct 27, 2005 at 04:30:54 AM PDT

    •  Doing both (4.00)
      And hotlisting for future reference.
    •  excellent diary (none)
      thank you for posting this!
    •  Jesus, we funded every single loan availible. (4.00)
      Slashdotting for social justice! Or something like that at least. I just set up an account and there aren't any people left on the site to contribute to. All the loans have been fully funded.

      The power of the net to incite what are essentially benevolent mobs in response to obscure causes still absolutely floors me some days.

      Good diary, should go in the Dkos Hall of Fame if there ever is such a thing.

      To lodge all power in one party and keep it there is to insure bad government and the sure and gradual deterioration of the public morals. - Mark Twain

      by Windowdog on Thu Oct 27, 2005 at 07:51:33 AM PDT

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      •  just sent them a note (4.00)
        Pointing them to this thread so they have some clue about what's going on. Maybe we'll hear from them in a day or two. I love this idea, I've been reading about microcredit for years but I had no idea there was a way for ordinary mortals to play.
      •  one still left (none)
        at 8:28 AM Thursday

        http://kiva.org/...

        •  Nope that one is full (none)
          Just hasn't been moved over yet to active. It is listed as needing $0 for completion.

          To lodge all power in one party and keep it there is to insure bad government and the sure and gradual deterioration of the public morals. - Mark Twain

          by Windowdog on Thu Oct 27, 2005 at 08:47:08 AM PDT

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          •  They've put new ones up now. (4.00)
            I just donated to a hair salon. Really great idea, hope to christ it's legit :-P.

            To lodge all power in one party and keep it there is to insure bad government and the sure and gradual deterioration of the public morals. - Mark Twain

            by Windowdog on Thu Oct 27, 2005 at 10:23:15 AM PDT

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            •  that's the thing (4.00)
              I used to work in nonprofit work and traveled to Africa among other places for my work. The old model of western aid was huge monster projects through the local government. It turned into one big graft machine. The current wave is to fund NGO (non-governmental orgs) which is working out much better as it's easier to disengage if there is a problem and you can pick and choose which orgs to fund based on past performance so it sets up an aid market where the qualified, effective organizations get funded and the graft-riddled ones get weeded out.

              The micro-credit approach is even better. First, most little guys tend not to be very corrupt, in most places, the great majority of people are honest. The beauty of micro-credit is that you're able to reach those folks and bypass the smooth operators. Secondly, even if some of them do turn out to be fraudulent it's easy to cut your losses since your exposure isn't very big with any one individual. Finally, working in small villages, like Kiva is doing, also has advantages for vetting projects - everyone knows everyone else and the scam artists are going to be known to local folks and quickly identified.

    •  Tremendous leap forward ... (4.00)
      I have been (minimally) involved with microcredit for over 15 years.  While I've donated to some of the involved organizations that I trust / respect, the Kiva approach linking individual donors with specific projects is wonderful.

      I assume / hope that they are taking their management costs from whatever 'profit' / fees (e.g., interest) comes on top of the loan.

      And, for someone like myself, they're creating the option where I can 'roll over' the money from one project to another -- increasing my 'investment' level bit by bit.  Thus, perhaps my coming 'investment' might be $100.  A year from now, if I add another $100, then I'll be able to do a $200 program if the loan's been paid back.  And, bit by bit, I could create a position where I could have enough to really have an impact in a specific town / region in the world with years' worth of reporting on how my little bit has helped changed the environment of the town.  

      And, guess what, everyone who deals with Kiva could do the same thing.  This is GREAT!  

      And, thank you very much for posting this diary -- if you get 25 of us linked up with Kiva, think about the long term impact you've had ...

    •  Nice Diary. (none)
      Thanks for sharing this. I've been getting frustrated just giving to causes and organizations that will help people. This is a direct line to small business owners who are ready to put some investments to good use. I'm checking them out right now.

      This ain't yer daddy's Watergate.

      by E Man on Thu Oct 27, 2005 at 10:38:35 AM PDT

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    •  Stop campaigning for Kinky!!! (none)
      oh.  err. wait.  um wrong diary.
    •  FINCA - women (none)
      Please click to learn more about "Village Banking" from FINCA INTERNATIONAL.

      Not just loans (which are paid back), but community development.  

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