In 2011 we won an award for Best New Community Project. Our goal is to enable people without access to traditional banks (including many women) to expand their businesses, support and 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 $25. 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. ($25 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!

20 March 2012

The How and Why of Auto-Lending (Tuesday's Tip)

Here is another tip for 'Genealogists for Families' Kiva team members.

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.

It's easy to do. Just log in to Kiva, go to 'Account' then (in the drop-down list) 'Auto-Lending', and select your preferences.

From then on, if you have $25 in credit but don't log in within a certain time (which you specify), Kiva can allocate that credit to a new loan. You can (if you wish) control this by setting criteria such as gender, country, sector, star rating, etc.

The first part of the page where you set your preferences looks like this:


Check your account settings now. Do they suit the way you use Kiva?
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Join Genealogists for Families. Together we can make a difference!
Posted by Judy Webster

3 comments:

  1. Comments from team members prompted me to change the original post slightly. It now says, '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.'

    ReplyDelete

  2. Thanks for pointing out the autolending option. I've been in and updated my settings accordingly. (I hadn't thought about 'afterlife lending' but what a good idea.)

    ReplyDelete
    Replies

    1. Diane, I like your term 'afterlife lending'. What a shame I didn't think of it when I was explaining the auto-lending settings. :-)

      Delete

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