Any new info on giving lenders Kiva credit whenever $25 are repaid?

[Guest]

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[Ulli]

Awhile ago, somebody mentioned that Kiva might consider to return money to lenders (give Kiva credit) whenever a lender reaches $25 in repayments instead of waiting for a loan to be repaid in full and then distributing the money.
Do we have any new info on this?

Ulli

[Dottie b]

Haven't heard a thing!

And given how few loans they posted in early January, it's probably just as well they hadn't implemented it!

But I'd love to see it happen.


Dottie B

[AccountAbility]

Since right now repaid loans are running around 30% of new loans (so only 70% are needing "new" loan monies), I don't think we will see that for a while. 

There are two other factors which need to be dealt with. Kiva makes interest on the credits. So this would be a cut in their income to support their operation. 

Secondly, the regular payments lenders see are computer generated.  The MFI is set up to use the exception method of correcting any errors in the posting.  But as many of us have experienced, often the correction comes afterward as a "take back".  If those funds had already been turned into credit and either reloaned or withdrawn, the correction would turn into a mess.  I think they will need to have a higher degree of accuracy in this before they will provide credit for each payment.

Dan

[Ulli]

Thanks for your insight, Dan.
I had considered the interest issue, but not the accounting issue.

Still, it would be nice to get our hands on the money at some point. I am whining here, because I have about half of my Kiva investment tied up in active, but not completely repaid loans 

Ulli

[abc]

Sorry if there is a more current thread on this topic.
I know it gets talked about a lot. I know you all are probably
tired of thinking about it. Sorry sorry sorry.

BUT: Is there ANY word on when/if Kiva is going to start
releasing these funds for us to use?

We keep saying/hearing "Soon, soon.." but it doesn't seem to be
happening soon, does it? (And, frankly, just between you and me,
I could give not one guinea pig's little bitty behind about the new Team
project that is getting all the hype, but I will dance in the street -- well,
I'll jump around frantically out in the y ard -- the  day Kiva lets me use
these repaid funds.

I'll jump around and then I will make more loans. Aarrgghh.

[saabnet]

BUT: Is there ANY word on when/if Kiva is going to start
releasing these funds for us to use?

I understand Premal gave a talk awhile back and mentioned something like by October, but if not by October, it would not be released during the holidays/Q4 which would mean not until January... so that kind of soon, possibly.

-Scott

[cpbailey]

While Ann is dancing in the street celebrating, the rest of us will be making loans before the loans are picked over...

Colette

[abc]

Well, Colette, let's not start holding our breath just now.
Rats.
I was hoping it would be a lot sooner.
And then I realize this is already August.
Heck, October is just around the corner.
Better start looking for my dancing shoes...

[khang]

I know that it's coming very soon, like next week 
K.

[Sengbe Pieh]

I know that it's coming very soon, like next week 
K.

I certainly hope you are right Khang. This would "Good News" indeed; Xmas in August/September!!! 

                         

G

[Canadian Here]

Khang:

Do you mind citing your source for that information?

Thanks!

Lorna