Hi,
I saw snak.com listed on one of the loans that was funded today. Their pledge:
All Snak registration payments received via PayPal during 2008 will be lent out through kiva.org.On their Kiva pledge page (
http://www.snak.com/KivaPledge.html) they explain the concept and answer questions such as
>>>>>>>>>>>>>
Do you benefit from this ?
No. The net effect is that we defer receiving your registration payment for the duration of the loan, usually 6-12 months. At that point we may decide to lend the money out again or we may decide to withdraw it. Currently Kiva has a default rate of about 2.5% meaning a small portion of the money is lost every time.
We also make direct contributions to the Kiva organization itself to help them pay for staff, rent, administration etc. This money does not come back. <<<<<<<<<<<<<
I am very much intrigued by this concept. Even if they decide to loan the money only once and then withdraw it, it will have already done a lot of good.
I am wondering if other companies would consider using a similar mechanism. The company basically gets paid, but with a delay.
How can we find other companies and introduce this concept to them? Ulli
