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Author Topic: It's a Mystery to Me; Loan Descriptions and Pictures That Leave Us Wondering  (Read 38763 times)
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larion
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« Reply To This #240 on: August 22, 2013, 09:45:00 AM »

I've been with Kiva since 2009. Yesterday, after receiving an email reminder of available funds, I started looking for borrowers. While browsing through available loans, it struck me that many loans to Iraqi borrowers were of the same amount. I was curious and filtered by this country and sorted by loan amount. Out of 30 available loans:

3 for 2,100, 2,000 1,800
9  for 3,000
18  for 2,400

(Today I see 25 loans, I guess 5 were already funded.)

The 9 and 18 loans from the list above were administered by CHF International Access to Credit Services Initiatives (ACSI) Iraq. Most of loan descriptions list similar, even identical needs - install ceramic tiles or blocks on the walls and the floors, buy a motor generator, pay annual rent for a shop...

Does anyone else finds it unusual that:

Loan amounts are well above average
Borrowers request the same amounts
Different people have identical needs
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YowieFreak
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« Reply To This #241 on: August 22, 2013, 11:56:21 AM »

...

Does anyone else finds it unusual that:

Loan amounts are well above average
Borrowers request the same amounts
Different people have identical needs

I don't know about the "amounts above average" part (I guess that depends on the cost of living in the country), but I don't find the rest very unusual.

In order to keep costs down many organisations will have "products" available such as "10000 LCU loan for housing", "20000 LCU loan for housing" "15000 LCU loan for agriculture".  (10000 LCU [local currency unit] might equate to USD$2400 at the moment.  Next month many similar 10000 LCU loans might be posted as USD$2325.)

The customer just comes in and says "yes, I want one of such-and-such product", and all the paperwork is already prepared and just has to be approved and signed.

Picking a pre-prepared amount may not fit the exact needs of the customer, but the customer obtains the benefit of lower administrative costs.

P.S.  I work for an insurance company, and one of our recent (lower-cost) products was an income-insurance product for either AUD$500, AUD$1000, AUD$1500 or AUD$2000 per month.  The customer could obviously also choose a different product which allowed the customer to select a specific amount, but the rates would be higher.
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jennifer
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« Reply To This #242 on: August 22, 2013, 12:02:30 PM »

There are a lot of small loans on Kiva, but these loan amounts don't strike me as unusually high.  It may be that the Field Partner offers set loan products with standard amounts too.  The spaces seem to be pretty bare bones so I can see renovation and better security (rolling shutters?) being desirable. Not sure if all the borrowers are in stalls in the same commercial building? If it's an old unrenovated building, I can see multiple tenants having similar needs.
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charity
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« Reply To This #243 on: April 01, 2014, 07:28:23 PM »

http://www.kiva.org/lend/691428
"Currently Ivana is requesting a loan in order to purchase a machine to irrigate their land as well as artificial garbage for the land to better till it."  I am definitely not a farmer, but I am at a loss as to what is meant by "artificial garbage"?!  Huh?
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