Laserfiche WebLink
Kiva Zip | Frequently Asked Questions <br />https://zip.kiva.org/faq[8/27/2013 9:42:15 AM] <br />29. What loan terms are available to borrowers on Kiva Zip? <br />30. What interest rates does Kiva Zip charge? <br />31. What happens to the borrower if he or she doesn’t pay back a loan? How about to the trustee? <br />32. How can borrowers qualify for larger loans on Kiva Zip? <br />33. Will the borrower be able to communicate with their lenders? <br />34. How do I apply for a Kiva Zip loan? <br />35. How can I increase my fundraising speed? <br />36. What happens if a Kiva Zip loan is not funded? Does Kiva Zip have expirations? <br />37. What are group loans? <br />Questions for and about Kiva Zip trustees <br />38. What is a trustee? <br />39. What is a vendor trustee? <br />40. What are the qualifications to become a trustee? Can anyone become a trustee? <br />41. What financial involvement do trustees have in the loan? <br />42. What happens to the trustee if a borrower they endorsed doesn't pay back a loan? <br />43. How do I apply to be a trustee? <br />Questions relating to Kiva <br />44. What is Kiva? <br />45. What is microfinance? <br />46. How are Kiva and Kiva Zip related? <br />47. Why did Kiva launch Kiva Zip? <br />48. How will the project interact with Kiva.org? <br />General Kiva Zip Questions <br />What is Kiva Zip? <br />Kiva Zip is part of www.kiva.org . Kiva Zip is a small project, whereby lenders make microfinance loans directly to borrowers in the US and <br />Kenya via the Internet. Kiva Zip was launched as a pilot in November 2011, and moved into Alpha testing phase in September 2012. <br />What are the aims for Kiva Zip? <br />There are three principal aims for Kiva Zip: <br />1. Expand financial opportunities and access for borrowers who otherwise lack them <br />2. Reduce the cost of capital for borrowers who need it <br />3. Enhance the connectedness between lenders and borrowers <br />Where will Kiva Zip be located? <br />Kiva Zip will be starting by making loans to Borrowers in Kenya and the US. Kenya was chosen because of the high penetration of the M-PESA <br />mobile payments technology, which facilitates making direct payments to Borrowers; and because there is already a Kiva office in Nairobi. The <br />United States was chosen because Kiva is headquartered in San Francisco. <br />For the first few months of the pilot, Kiva Zip Lenders were all United States residents, but now users outside the United States are also able to <br />make loans. <br />What are the principal differences between the main Kiva model and the Kiva Zip model?