Learn More About Kiva Microloans

The Network of Networkers knows how to attract good people. It is equally true that great causes attract the best people. We are building a successful global social network and helping others is at the core of our values. For nearly a year and a half, John Hall, owner of The Network of Networkers has been a part of Kiva.org, the world’s leading organization that funds microloans to small businesses that could benefit from a helping hand. John recently founded The H.O.P.E. Project to help global entrepreneurs through Kiva. After making his 41st Kiva loan, Mr. Hall wanted to really get some momentum behind this project.

“After I made a couple loans, I couldn’t stop,” Hall said. “I mean there’s charity, and then there’s Kiva!”
Hall points out the difference between charities and the way microloans work is that most often people are reluctant to give to charities for two reasons. First, people don’t always know where their money is going and they don’t know exactly how it is going to be used. Second, they feel they can’t afford to give and don’t know what organization to choose. The best part about the program is that Kiva makes it really easy to help others.

100% of the loan goes to the designated entrepreneur – donating to Kiva’s operating costs is suggested, but purely optional. Each lender receives periodic status updates from their entrepreneur, letting them know how the business has benefitted as a result of the loan.
John points out, “…for the technology savvy lenders, Kiva even has RSS feeds for each loan that allow us to get real time updates as they are sent out to the field.”
As far as losing your money, the total amount of funded Kiva loans since inception is over $200M with a default rate lower that 1.37%. Hall states that his repayment rate since he started the program has been 100%, including 0% loss due to currency conversion rates.

“Each lender eventually gets paid their money back, so it is even better than charity.” commented, John Hall.
“I have made so many loans now over the past year and a half, that now every single month my loan repayments total enough to fund new loans and even help new lenders become a part of Kiva through gifting my loan repayments,” adds Hall.
“It is really picking up momentum and I know that this can exponentially grow with the help of a few people that are truly committed.”

The Network of Networkers is dedicated to helping entrepreneurs around the globe. We have set a collective goal to fund $10,000 in new loans by Jan 2012.  Hall urges that everyone learn more about Kiva and how a small one time loan of $25 can start a snowball effect of dozens of other lenders and dozens of new loans – all from your initial $25. “Kiva is the most rewarding thing I have ever been a part of and this is going to be the best year ever,” says John Hall.

Please take a look at The H.O.P.E. Project - Learn More

See Hall’s other lending team and view loan history - Team AllofUsAreOne