Then, only a day or two later, I spotted a post on Carl Galloway's blog to say that he was having great difficulty in finding an entrepreneur who needed a loan. He did eventually manage to find one refreshing constantly.
I found it hard to believe, but sure enough a day or two later (speedy is my middle name) I went to the Kiva site and saw this.
All loans funded! One loan made every 24 seconds!
Whether this was the impact of an influx of new members on the 101 Cookbooks team, I really don't know. I do know that for a few weeks I was seeing widgets displaying 100% funded around the blogs I was visiting.
Then things changed again. As I write this there are 12 people looking for loans of various sizes, though at the current rate of one loan every 29 seconds, it won't take long for them to be filled. Nevertheless the rate of lending has decreased and there seem to be more people with loans not yet filled.
I'm wondering about the timing of this. Were people put off by the fact that there loans are being filled so easily? New projects are being continuously added, so it shouldn't be an issue. But could it be the economic situation? I hope not.
I'm finding it quite frustrating at the moment. Every time I try to loan to someone, I find I can't do it. So, for the time being, I've decided to withdraw all my money from Kiva, because I can make better use of it at home.
ReplyDeleteOn one hand, I think it's really good that people are being helped so quickly. On the other, I'm finding it annoying that I can't join in. :D
Its hard to believe, but also good for them I think.
ReplyDeleteI love to see projects like this take hold around the World. It gives me hope.
ReplyDelete@Solomon, yes I have mixed feelings too. Let's face it, there must be plenty of people who need the help, so it's a shame Kiva aren't able to reach out more. Perhaps they are a little overwhelmed.
ReplyDelete@Renny, true, hard to believe.
@yanjiaren, it really is a good project. Another very similar one is Babyloan but it's almost all in French.