Journals

[Guest]

.

[Spartan]

Personally I would like to see the journals updated with text and pictures by the people that receive the loans either directly or indirectly.  This is so because I believe that if lenders feel a personal connection to the client they would likely find more value and reward in their efforts and probably be even more generous.

Currently I dont think the journals really serve a functional purpose in any meaningful way. I do understand however that as Kiva is able to send more people on visits to local communities that they will assist in updating the journals on behalf of the MFI and the client.

[AccountAbility]

I am very glad for this thread.  As it now stands, the Journals are the weakest aspect of Kiva from my vantage point.   We get all hyped up to make loans to individuals with specific stories--and then there is nothing.  In another post, I said that for me the "interest" that I as lender charge is the journaling and communication I expect in return for the loan.  I would far rather hear more of the story and continue to forgo other "interest".  So far over the last 5 months on two dozen loans, there have only been two journals.  And these were minimalist and standardized at best.  Maybe things are changing, what with "Fellows" and so forth.  I actually received a real journal on one of my loans this past week and it felt like Christmas.

[AccountAbility]

I have become increasingly concerned about the level of journals being published for loans through Kiva.  Over 85% of our loans have never had a single journal entry (after the initial disbursing entry) and only one loan has had two journals.   Based on the total pages of journals, it would seem that this ratio is pretty typical.

For us, journal entries are our interest payment--and makes lending to a specific business meaningful.  Is there anything we can do to encourage more journal entries?  Do comments have any impact?  Is there a way to reward MFIs who post more journals?

I fear that without ongoing journals, interest in Kiva will drop off for existing lenders,  especially as loan terms are getting longer for many new loans.

[AccountAbility]

So, has everyone given up on Journals, or have we just moved into passive mode?  I remember a thread awhile ago wondering what a "recommendation" meant for a journal.   

The funny thing is -- you can't easily make a recommendation on a journal for a loan you funded, because the "recommend" buttons are only available in the chronological listing of Journals, not on the listing of journals found on the borrower's page.   And finding Journals for your own loans in the Chronological listing is like finding a needle in a haystack.

So maybe we should recommend each others loans?

[Joe]

I've also been disappointed in the lack of journal entries but have to admit I haven't checked them in ages. Probably from just assuming there is no update.

Seems like it was a good idea on Kiva's part, but most of the MFIs or people on the ground don't seem to have the time (or technology?) to post updates on the business when they collect payments. I'd love to know if the money I contributed to a young woman in Mexico earlier this year actually helped her little street corner shop succeed. She was able to pay the loan back, so it must have worked, right? I'll probably never know the details, unless I took a trip to her city and tracked her down myself

Maybe we should put some pressure on the MFIs to start posting updates.

[Julia]

I've been getting some great journal entries from my Prisma lenders; been reading them to my husbands. As usual, that MFI is leading the pack...

Julia
ps, Joe - I got on this morning to kivafriends without problems. Lets see how long it lasts...

[Joe]

Hmm. I wonder if that'll make more people gravitate to Prisma listings.

I hope the connection problems are solved.

[RichardF]

I've been getting some great journal entries from my Prisma lenders; been reading them to my husbands.

Funny, I was just thinking these journals would make great bedtime stories too! 

[AccountAbility]

I guess the addition of new loans that are extending out almost two years makes the "interim" reports (aka "Journals") more important.  When it's a short loan period your imagination can kinda connect the dots.

But since the whole premise is to connect a specific real borrower with the lender, the more journals the more connection.

[Henry]

I have yet to get into reading the journal entries.  I attempted it, didn't see how it all correlated to me and my loans. Seemed like a bit much at the time for me. (of course getting from the kitchen to my computer is a bit much on certain days)

It would be nice if one could read only journal entries pertaining to one's own loans.
It would be nice if MFI's completed all the fields when makeing a payment entry.

and on a good day, it would be nice if a nice wind would speed up that boat to the Somoa's  !

I do have a question, Accountability posted once: 

I remember a thread awhile ago wondering what a "recommendation" meant for a journal.   

Did you ever figure that one out?  is it recommended reading?