Kiva is one of those sites that I had heard about but didn’t do anything about. Today, I took up Mike’s challenge to support a couple Kiva entrepreneurs. One of the things I appreciate is that Kiva keeps the donation separate from their operating costs. Though it’s something I haven’t looked into, my guess is that their operating costs will be slightly lower than the traditional non-profit because they’re running a virtual business. Most non-profits have about 20% operating costs, whereas Kiva asks, but does not demand, for an additional 10% of your donation to cover their costs. Thanks for the challenge, it got me off my butt.
Update on Feb. 20, 2007
An email from Kiva:
Dear Jon Silvers ,
The business you have loaned to, AKOABA , has made a repayment of $100.00. The total amount repaid up to now is $100.00. The payment was collected and deposited by Joseph Kossi Akogo. This repayment will be divided amongst all the lenders who helped to fund this business, depending upon the percentage each lender contributed. Note that you cannot actually withdraw or reloan these funds until after the loan term is complete.Comment:
Akouété thanks sincerely KIVA and all those who have contributed to his project funding which allows him today to increase his activities and automatically his incomes to his proper living conditions improvement and those of his family. May Almighty and Merciful God bless you, and rendered it to you everlastingly!!!
). Met some interesting folks last night at STIRR. The Bay Area has really turned into an entrepreneurial “scene.” Journalists and bloggers have reported on the scene in Silicon Valley, but still it’s something that has to be experienced to be totally understood (the standard Burner line for non-Burners). And that couldn’t be truer about the Bay Area in the 21st Century. It’s like watching bands play in Hamburg in the 1960s, wondering which one will change the world forever.
