kiva now returns microloan amounts as they’re repaid so you can keep lending
I’ve been meaning to post this one for a while: Kiva, an amazing nonprofit that lets anyone loan small amounts of cash to business owners in developing nations, now returns loan repayments to your account as soon as the borrowers make them. Previously, you had to wait months until the entire loan was repaid before you got your share back.
We are happy to announce that Kiva will now return repayments to lenders as soon as those repayments are received by Kiva. Because of this change, you’ll be able to re-lend funds right away instead of waiting until the end of the loan term.
As a result of this change, $33.32 in Kiva Credit has been released to you and is now available for you to use. You can re-lend these funds, donate or withdraw them.
This is a great move because it means you can get your money back into circulation quickly — ideally by loaning it to another entrepreneur who needs it. When that entrepreneur starts to pay back the loan, you can apply those payments to yet another loan — and on and on, helping several people in one or more developing countries all with the same base amount of $25, or $50, or $200…
