Minutes: Kiva Bigshots Meeting

I’m not sure if we had a quorum or not, but a bunch of KIGsters showed up and we threw around some ideas and it was a good thing. Here’s what we said:

Everybody present agreed it would be cool to fund Kiva borrowers as a group in addition to our private investments. Two ideas came out about how to do it.

1. We agree on one entrepreneur (at a time) and then, as Paula put it, we all “just madly fund that person.” Simple, clean and we retain our independent investor status.

2. We establish a KIG Paypal account. Everybody puts what they want in the account and we fund our people as the Kiva Investment Group. We could completely fund one loan or diversify and loan as a group to many borrowers just as we do now. I found a group that is already working this way – there are probably others too.

If we go with Idea 2, Ari suggested when a loan is repaid we donate the money directly to Kiva. Makes sense to me: good to do, a substantial donation to a great organization, and it would vastly simplify our bookkeeping.

Other Ideas:

Ramon wants us to invest with our minds as well as our hearts. He thinks we should pick businesses that have a chance of succeeding, and presented some simple principles to help us do that. Leo pointed out it might be hard to apply principles that make sense in the developed world to a country as culturally different as Togo.

Pig suggested we focus on people who are having trouble raising loans – and, if a business that’s not getting any bites looks sound, take it on as a group. We could use our combined muscle to help the losers not be losers. He doesn’t think this needs to violate Ramon’s business principles. Greg and Julia agreed. (Notetaker Pig adds: We would be doing something as a group that’s different from how we invest individually, and using our group power to fund viable businesses that can’t get funding. We’d be like a mini-Kiva inside Kiva.)

I think that’s it. Any additions or corrections? New ideas?

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8 thoughts on “Minutes: Kiva Bigshots Meeting

  1. I have to agree with belledonna- I don’t like the group funding thing. I don’t see the point in it as loans get funded regardless. And the loans that don’t get funded quickly- ie most of the Azerbajian ones- I personally don’t have a lot of interest in funding as the descriptions all say things like “this is an internally displaced person from the Armenian occupied territory of…” I find that to be prejudicial irrelevant information which I don’t like to see in a loan request. I find it disturbing and don’t want to fund a political point of view. (The Armenians don’t see themselves as occupying the country, but rather that the Azerbajians took the land away from them and that they are just taking it back- it’s a long ongoing war/dispute). My point is that we all have our own reasons for funding a loan or not funding a loan. I think that the KIG PIG is best left as an awareness thing.

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  2. I haven’t been contributing comments – to busy baking the pies – but find all your ideas interesting. It’s great to have a place where people can explore ways to be even more effective, share thoughts safely and encourage each other.I like the idea of getting 100% funding for an entrepreneur quickly, but since most of us seem to have our own ways of deciding whom to lend to, I’d prefer to be alerted when one of the KIG members notices a particular prospect and then as many members who want to can act immediately. Being alerted might speed things up for the borrower. And since KIG is simply a group of supportive like-minded folks, we can participate in such a mass effort only if we want to!

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  3. Now Patrushka’s idea I like- however, if such a thing were to be done, Pig would need to find a different page to use for it- this Pondering Pig blog has been getting a little bit Kiva heavy as of late (no offense Pig).

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  4. Another goal could be to have at the very least one KIG member in every country Kiva lends to. Assuming our map is correct, we don’t have anyone in Samoa, Togo, or Tajikistan. Vidadi Aliyev in Azerbaijan has been on kiva for a while now and still needs $475. Seems like he’s paid back five loans in the past 6 years… seems like microloans are working for him? should we all fund him like mad?

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  5. I take it all back! we’re already in Togo and Tajikistan (just didn’t see them on the map, they’re so small!) But I don’t see any green where Samoa is on the world, so maybe we aren’t lending there?

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  6. You guys are way ahead. I just funded 3 businesses last night and just started a group to create awareness about Kiva in Singapore. In case you are wondering….No there are no pirates in Singapore.

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  7. “Only economist and madmen believe exponetial growth can continue in a finite world.”

    The world economy just collapsed because of compunding debt at a relatively low interest rate.

    Kiva loans carry anywhere from 20% to 86% interest. Kiva loans inject only principal in a community. When the loans are repaid the principal is then removed from the 3rd world community. The usury interest payments then concentrate a large portion of the communities pre-existing money in a few hands. The newly created banking class. A kiva banker making hundreds of loans now collects 20% or more of each person labor.

    Even if the new bankers on the scene spend all that money back into the community they end up with what they really want whichs is the land and material wealth.

    Please think a little deeper on this matter. You are empowering a great evil enterprise.

    Many previous not for profit micro lenders are now large for profit lenders.

    These micro lending outfits introduce the 3rd world to debt slavery that the developed countries has been living under for years.

    Google and watch “Money as Debt” to beter understand how money and banking works.

    If you followed God’s plan for lending you would lend at zero interest and not expect a return. See Luke 6:35 also all other religions also teach not to charge interest, to foregive debts and return foreclosed property(see Jubilee year)

    Check out new domestic project http://justmoney.zapto.org/bbbl coming soon.

    Just sit down and do some simple math. Multiple you loan by millions of others and compund thse interest payments over a few years. You will see how much damage you are doing.

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