Shanti’s Dispatches

The great thing about Kiva (and micro-credit in general) is its great historical repayment rate, usually 96% or higher.

One of my loans has been repaid. Just pledged another one to Namig Farzaliev, a shoe salesman/vendor in Sumgayit city , Azerbaijan.

Note: the above banner will switch to a random Kiva entrepreneur once Namig’s loan has been fully funded.

Azerbaijan on Wikipedia (Yeah, had to look that one up)

When Kiva first launched, I sensed a bit of skepticism from people who I talked to about the idea/website.

Since launching one year ago, Kiva.org has:

• Become the most trafficked website in microfinance with over 250,000 visitors
• Raised $430,000 in loans in $25 increments from more than 5,400 users
• Provided capital for 750 micro-enterprises in 12 developing countries
• Grew its partner network to 14 partners in Africa, Asia, Eastern Europe, the Middle east and Latin America
• Achieved a 100% repayment rate on 28 completed loans thus far. Kiva expects the long term repayment rate to match the 97% microfinance industry average.

Via Kiva’s press page. PBS Frontline also just did a special on Kiva. Hopefully it’ll be up on YouTube eventually, so you can see Kiva in action.

I’ve lent $100 so far. And dang, it feels good to be a micro angel investor.