USA loans

[Guest]

.

[joanna_h]

Do you think people from Uk, Germany, Australia, Sweden, Norway, Denmark etc should also get loans on Kiva ?
Even if this takes about half the the amount available on Kiva, so that more loans to devloping countries went unfunded ?
Isnt there a great difference between the rich countries with a working financial system and developing countries?

There are some very disadvantaged segments of Australian society (indigenous australians particularly) where well targeted microfinance and business training could go a long way.

What loans get funded and unfunded is entirely up to the users. No-one is being forced to leave developing world loans to expire and put their money into American loans. Kiva users are quite free to leave the developed world loans go unfunded. Then there is also the possibility that both may be able to be funded through the introduction of new kiva lenders particularly interested in developed world loans.

[elisel]

I find it kind of strange that is possible to to loan to so-called non-third world countries. As a European I think it's really odd to loan to US-based persons. On the one hand the US is a truly leading global country, but on the other hand it's a third world country (not meant to be offensive to US-based people on Kiva) with people not being able to access funds that are necessary to be successful in a local/regional/national area.

[Jan & John]

Thanks, Nonny

yes, there are lots of people here in Canada too that fall through the cracks of the social network and can't meet the banking system's requirements...

microfinance could be an answer for many in our country, and I would also love a chance to help in that way.  I believe in lending as being so much more than just feeding the hungry today.

I think it would be awesome if Kiva could grow so big that they partner with *every* microfinance company in the world, and we could lend to *every* person who needed help.

but I'm enjoying the ability to lend to people who touch my heart, and I thank Kiva because I couldn't do even that a couple of years ago...

-jan-

[elisel]

Hi Jan

Isn't it true that you're heart is touched so much more by people for whom it's so much tougher to make a living? Like those people living in countries in which the annual income is way much lower than in ours?

warm regards
Elise

[Jan & John]

Elise, my heart goes out equally to all people striving to make their lives better...

I see no difference between a mother in Canada or a mother in Kenya who have no milk to give their children.  Both of them have an annual income lower than mine.

I cannot help all.
I try to help the ones I feel called to help.

and the best part of Kiva, is the repayments and the opportunity to relend and stretch my own $$$.

-jan-

[tomgray]

Good by me.  I think there are probably people in many developed countries who need help and are willing to help themselves.

That reminds me...I'm ready for Kiva to expand to Canada so I can add it to my countries list...

[DoubleR]

Do you think people from Uk, Germany, Australia, Sweden, Norway, Denmark etc should also get loans on Kiva ?

Absolutely!  Lenders ultimately decide with their lending dollars as to whether these entrepreneurs deserve to be funded.  If the demand is not there, these loans should expire after 30 days like any other loan.

Isnt there a great difference between the rich countries with a working financial system and developing countries?

There's an assumption that financial systems in "rich" countries are truly "working".  Tell that to the underserved populations in these countries who do not have access to financial institutions.  For example, in the case of US loans (or any developed country if such loans were offered), there appears to be a double standard against immigrants who leave their country in order to make a better life for themselves and their families.  New immigrants to the US do not have a credit history established in the American financial system, which is required to access a loan to start a business.

What message are we sending if we say, "We'll fund a Kiva loan to an individual in the developing world, but that same individual does not deserve Kiva funding if he/she moves to an industrialized country"?  This gets back to my personal lending criteria that involves assessing the borrower's individual need.  My only evaluation of a particular loan's country of origin is strictly to consider currency risk and likelihood of repayment, not on whether it is developing or industrialized.

[elisel]

@edit: don't know how to quote your original message

Hi Jan

Fair enough and much appreciated

Regards
Elise

[YowieFreak]

There are some very disadvantaged segments of Australian society (indigenous australians particularly) where well targeted microfinance and business training could go a long way.

I keep seeing things on the website of the company I work for about how they provide microenterprise loans, and keep thinking I should try and talk them into asking Kiva to supply them with some capital.

[DoubleR]

I keep seeing things on the website of the company I work for about how they provide microenterprise loans, and keep thinking I should try and talk them into asking Kiva to supply them with some capital.

When you say "them", do you mean TCU or NAB?  I would hesitate making NAB a Field Partner, since they are a publicly traded company with deep pockets of their own.

However, TCU (Traditional Credit Union) appears to have the "look and feel" of a traditional microfinance organization:

From the Traditional Credit Union website: 

Services

Although our mission statement is to provide personalised quality financial services for the Indigenous people and organisations in remote communities of the Northern Territory there is a lot more to the Traditional Credit Union. We provide the following services to our members and other residents of the remote communities we service.

    * Personal banking products

    * Business banking products

    * Community sponsorship

    * Financial counselling

    * Financial literacy education

    * Employment and training opportunities

History

The idea for the Traditional Credit Union (TCU) was originally developed by a group of Aboriginal Elders to provide financial services to residents of Arnhemland communities who were disadvantaged by a lack of banking and other financial services.

We would not have developed any further if it weren't for grant funding received from the then Government Department ATSIC and the Arnhemland Progress Association. Through the tireless efforts of a number of Aboriginal Elders and the Arnhemland Progress Association we were incorporated as a credit union on the 5th December 1994.

With our first remote branch opened in Milingimbi in 1995 we have grown to a network of twelve branches and one agency throughout the Top End. As a credit union, our members (whether individuals, family groups or organisations) are shareholders and hence the primary focus for us is the needs of our members.

Mission Statement

"Our mission statement is to provide personalised quality financial services for the Indigenous people and organisations in remote communities while respecting and valuing the cultural heritage of Indigenous Australians."

If TCU were to pass Kiva's due diligence screening, I wouldn't hesitate making my first loan to Australia!  Perhaps some our KF's in Oz could start a campaign to make this happen? (Hint, hint)