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Kiva Zip | Frequently Asked Questions <br />https://zip.kiva.org/faq[8/27/2013 9:42:15 AM] <br />Borrowers must have made at least one comment updating their lenders on their progress. For example, letting lenders know what they <br />spent the first loan on, and/or the impact it had on their business. <br />Borrowers must complete a post-loan survey, answering some questions for Kiva Zip about their experience over the course of the loan. <br />Will the borrower be able to communicate with their lenders? <br />Borrowers (and trustees) are able to use the same Kiva Zip Conversations feature to communicate directly with their lenders – whether this is to <br />update lenders on their progress, market their business to lenders, or thank lenders for their support. <br />How do I apply for a Kiva Zip loan? <br />Prospective borrowers in Kenya or the United States can apply for a loan for their business by following this link and selecting "I want to be a <br />Borrower". <br />How can I increase my fundraising speed? <br />There are some basic things that borrowers (or trustees) can do to speed up fundraising speeds: <br />1. Most significantly, you can invite friends and family to make loans to them by following this link to invite people directly through an email <br />invitation. <br />2. Post comments and updates in the conversations tab of their loans. This will help to earn them connectedness badges, which will help <br />them to appear responsive and communicative to lenders. <br />3. High quality profiles and photos are key drivers of fundraising speed. <br />4. Once your loan is approved and is fundraising, post a link to your loan on twitter, facebook, linkedin, etc to rally your network. On your <br />loan page, you can click the Facebook "Recommend" link. <br />5. If you are a trustee, having a proven repayment history of other endorsed borrowers shows lenders that you choose good borrowers. <br />Stats for trustees show on the loans and lenders can sort by repayment rate on the Trustees tab and find loans from trusted Trustees that <br />way. <br />What happens if a Kiva Zip loan is not funded? Does Kiva Zip have expirations? <br />If a Kiva Zip loan has not been fully funded after 90 days, it will expire. <br />This means that the loan is taken down from the website, any lenders that funded it are refunded their money, and the borrower will receive <br />none of the money. <br />What are group loans? <br />Group loans provide a way for borrowers to operate a single unit and reduce risk to lenders. <br />Unlike Group Loans on Kiva's main site, Zip group loans are posted as separate loan profiles rather than bundled as one single loan <br />profile. <br />All loans must fully fund raise or all will be refunded to lenders even if other loans were fully funded. <br />Borrowers will not be able to graduate to the next level of loan amount unless all group members pay back successfully. <br />If a loan that is part of a group defaults, other members of the group can optionally pay the remaining balance so that they can graduate <br />to the next level. <br />All loans in a group will have the same terms (grace period, length and repayment frequency). <br />Questions for and about Kiva Zip trustees <br />What is a trustee? <br />A trustee plays a crucial role in the Kiva Zip system, and is responsible for both recommending borrowers for a Kiva Zip loan and ensuring that