As I shared in my first post on the Kiva topic, I am starting slowly with the funding process from today. To archive that goal by Dec 31st, I have to fund, on average, $1,000.00 per month, or $250.00 per week. Because I haven‘t deposit any fresh fund into Kiva for such a long time, this first week will be a warm up week with a lump sum deposit. Therefore, I deposited $1,100 today and distributed that fund to 44 projects.
Stats after 1st week:
Amount funded: $1,100.00
Amount distributed: $1,100.00
Projects funded: 44
Updates of funded and currently funding projects are posted on the team page: https://www.kiva.org/team/highway_happiness
Your contributions will help borrowers behind those projects to reach their goals sooner.
Right now, there is only me and the “Highway Happiness” project. But I hope that very soon, I will meet new friends who will also share the aim to support the lives of less unfortunate people through Kiva, and the future posts will become “we” instead. Each $25 (minimum amount) you lend to somebody will be returned to you at the end of the promised period. It’s your choice to continue the circle and lend it to somebody else or withdraw it back to your PayPal.
In the best scenario, you won’t lose anything (except the inflation and the fee(s) that PayPal and your bank/card provider might apply). Remember, life is not pink. There are always chances that borrowers and the microfinance institution behind them might default, and you will never see your money back. That applies to mine as well! Think before you lend any amount of your money, and risk only the money you are ready to lose.
Your money is not an investment nor donated to a charity activity. Consider having the right mindset and attitude before you start. Research more information on Kiva and how it works will help you too. Talking about money is sensitive. Because of its sensitivity, I have to describe it as much as possible to avoid any conflict/misunderstanding in the future. If, after all, you still decide to start with Kiva, then I wish you good luck and be happy for supporting other people.
