In 2011 we won an award for Best New Community Project. We enable people without access to traditional banks (including many women) to expand their businesses, educate their children, save for the future and raise themselves out of poverty. Through Kiva, a non-profit organisation working with microfinance institutions, you choose a borrower to support with a loan of just $5 via Kiva Zip or $25 via Kiva. Similar loans by other lenders are combined until the required total is reached. As your money is repaid (often in monthly instalments), you can withdraw it or lend it to someone else. Money that is loaned over and over again does more good than a one-time donation. Join 'Genealogists for Families' - together we are making a difference!
14 September 2013
The How and Why of Auto-Lending (updated)
Many Kiva loans are repaid in monthly installments, but there may be times when you cannot check your Kiva credit on repayment day (for example, if you are travelling, ill or just very busy). To avoid leaving money sitting idle when it could be used for another loan, or to control what happens to your Kiva credit when you depart this life, you can, as a precaution, set up Auto-Lending.
This means that if you have $25 in credit but don't log in within a certain time (which you specify), Kiva can act for you to allocate that credit to a new loan. You can (if you wish) control this by setting criteria such as countries, sectors, risk rating, repayment term, gender, etc, as shown in the example on the right.
It's easy to do. Just log in to Kiva, select 'Settings', then (in the drop-down list) 'Credit'; scroll down to 'Auto-Lending Settings', set your preferences, and click 'Save'.
Check your account settings now. Do they suit the way you use Kiva? Did you choose an appropriate option for 'Inactivity settings' and 'Auto-Lending settings'?
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Join Genealogists for Families. Together we can make a difference!