Faith Sloan Gray Matter: Making Cash, Advertising/Marketing, and Ramblings – faithsloan.com

I was reading this NY Times blog article on peer-to-peer lending at

http://bits.blogs.nytimes.com/2008/10/16/is-peer-to-peer-lending-working-for-you/#comment-59103

Yes, I know this article/discussion is referencing ‘peer-to-peer’ lending. But an excellent example of a successful and meaningful lending site is kiva.org.

There are hundreds of thousands of folks like you and I who provide loans to individuals, groups, and entrepreneurs in countries such as South Africa, India, Dominican Republic, etc to “lift them out of poverty”. What joy!

We are not rewarded financially with our loans. The cash goes to kiva who is a non-profit organization which sends the money to micro-financing institutions in various countries who in turn lend the money locally.

Months ago, there were always hundreds of people awaiting financing. Kiva held the payback until all funds were paid back. But since Kiva made the decision to pay the lenders back as the money came in, many of us simply ‘recycle, if you will, the cash right back in to finance others. The result of this has been a shortage of folks seeking cash, but they are working on remedying this ‘good problem’. In the past month, there were only 4-5 folks awaiting funding.

I just took another look at the site and there are 137 awaiting funding so it appears that they have found a solution.

http://www.kiva.org/lender/faithsloan

I do not receive any financial compensation for promoting kiva.org. What I do receive is music emanating from my heart and yes, it feels wonderful.

God Bless
Faith

http://faithsloan.com

Kiva.org is a well-established non-profit organization that provides funding for groups, individuals, and entrepreneurs in developing countries “for the sake of alleviating poverty”. Basically, you are lending money to that person, and Kiva makes sure that they return it. Kiva works with other non-profit organizations in that particular country that ensures the entrepreneur doesn’t default on monthly payment.

How it works:
Quote:
1) Lenders like you browse profiles of entrepreneurs in need, and choose someone to lend to. When they lend, using PayPal or their credit cards, Kiva collects the funds and then passes them along to one of our micro-finance partners worldwide.
2) Kiva’s micro-finance partners distribute the loan funds to the selected entrepreneur. Often, our partners also provide training and other assistance to maximize the entrepreneur’s chances of success.
3) Over time, the entrepreneur repays their loan. Repayment and other updates are posted on Kiva and emailed to lenders who wish to receive them.
4) When lenders get their money back, they can re-lend to someone else in need, donate their funds to Kiva (to cover operational expenses), or withdraw their funds.
END QUOTE

When I first joined and started lending, there were hundreds of folks seeking funding. The bad news is that since Kiva has changed its policies from holding our repayments to giving lenders their money back immediately when repaid by the entrepreneurs, there are only 4-5 folks seeking funding at any one time now. Why? Because everyone receive their repaid loans and immediately fund others! That is the good news!

They are working as I write to bringing in a whole gaggle of entrepreneurs who need cash to expand their small businesses.

Kiva is a finalist in the American Express Members’ Project, a competition for a $1.5 million prize. This money will help Kiva reach 60,000 more developing world entrepreneurs. It takes one minute and no money to vote for Kiva’s project “Loans that Change Lives.”

Just this week, 2,771 new lenders joined; $1,053,250.00 lent; 564 loans repaid; 12,687 lenders made a loan;709 gift certificates purchased. No wonder they have a hard time getting more entrepreneurs. But remember, if you are an American Express Card holder, then vote for Kiva so they can reach more of these developing countries entrepreneurs on board so you and I can loan them cash to build their dreams!

Check it out at http://www.kiva.org/lender/faithsloan

God Bless
Faith

Good Works: Monks build multimillion-dollar business and give the money away Now this is what I call a REAL charitable class act. SF Chronicle article highlights LaserMonks and the monks of Our Lady of Spring Bank Abbey By Rob Baedeker, Special to SF Gate Monday, March 24, 2008 Article Thursday, March 27, 2008

Posted by email from Faith Sloan’s Ramblings (posterous)

Good Works: Monks build multimillion-dollar business and give the money away
Now this is what I call a REAL charitable class act.

SF Chronicle article highlights LaserMonks and the monks of Our Lady of Spring Bank Abbey

By Rob Baedeker, Special to SF Gate
Monday, March 24, 2008

Article

Thursday, March 27, 2008