How Launching Before Being Perfect Helped Kiva Change The World. – The Premal Shah Interview
on Apr 9, 2009 - 3:29 PM PSTDo you know people who too much time on the details of their ideas instead of just launching?
Show them this Mixergy program with Premal Shah, President of Kiva.org. Kiva is a microfinancing non-profit that allows you to lend money to entrepreneurs in developing countries.
In these edited excerpts, you can get some good suggestions on how to launch:
Get past the PowerPoint stage quickly.
I think the thing is, if you think you’ve got a good idea and you think it ought to exist, I wouldn’t spend too much time asking for permission. I would spend a lot of time trying to build it out, get past the PowerPoint and mock up stage and really try to get it on the web and see what kind of serendipity hits you.
If it’s not working, then you’ll learn and you’ll figure out the biggest constraint to it not working and you’ll run like hell against that next constraint. And keep your iteration cycles really short. Too often we spend so much time going through projections and business plans when we’re starting companies, when all that really matters is traction.
That’s something that Kiva did pretty well. Which is: get the idea out on the web, see who finds it, keep iterating. As we hit constraints, we iterate against the constraints. And here we are 3.5 years later with a site that’s raising a million a week.
That’s the big thing. Quit asking for permission and start building it and get it live.
Kiva launched before every detail was figured out
The site basically had 7 businesses that we had our friend in Uganda, a pastor named Moses, find for us. And the money people lent those businesses on our web site went to my business partner’s personal bank account. Then we wired it out to Moses in Uganda and he handed out the loans to 7 entrepreneurs. One was a fish monger. Another was a fruit seller.
I think it wasn’t all throught through how we were going to get the money back and how the billing and payment systems worked. But the simple concept was something that we just wanted to prove out. When I came to Kiva, we didn’t have a PowerPoint presentation or things like that. But we had a Web site.
When you launch, be aggressive
When we started, our belief was even if we were doing something inadvertently illegal, we should be really aggressive. Because we’re just trying to help people. And I think regulators are human, and people understand.
I think we were probably a little more aggressive–and thank god we were. If we tried to get our heads around all the rules, I think it would have totally killed a lot of the innovation. There’s a great quote by Peter Thiel, the founder of PayPal, he said, “If you’ve never missed a flight, you spent too much time in the airport.”
Kiva, like a lot of companies, does the analysis of probability of detection multiplied by probability of enforcement multiplied by penalty size. I think that’s the right attitude when you’re trying to start something that is hopefully going to change the world. Because it’s impossible to figure out all the rules and apply them all.
The infrastructure comes later
As Kiva grows, there’s more to protect. Just like when PayPal grew there was more to protect and things slowed down. I think it’s starting to look like a more well-managed, better governed company. We do have a general council here going around and making sure we are in compliance with the long list of regulatory bodies that govern what we’re trying to do.
We’re trying to close the gap, and I think we’re pretty mcuh there. But in the beginning, your biggest risk is no one knowing you and no one using your site. And keeping that as your #1 constraint–that no one gives a damn about what you’re doing–if you focus on that, instead of “oh a regulator might shut us down,” I think that’s the right way to go.
Even if you run into major problems, you can solve them
Prosper.com, they’re right now being shut down the by the Securities and Exchange Commission. And they are a for profit, person-to-person lending site started right here in San Francisco. And they did some regulatory work when they started–apparently not enough. And they ended up raising over $180 million. They have 180,000 users. They were first to market with domestic, person-to-person lending. They really established a brand–and then got shut down with a cease and desist order from the SEC.
So now when you go to the site, you can’t make a loan. They’re waiting for a government official to approve an application. Meanwhile, their users I believe are engaged in a class action lawsuit, so it’s getting a little dangerous for them. But my gut on this one is that five years from now, ten years from now, by Prosper being so aggressive and getting out way out in front and being a first mover, that they will be the market leader when it comes to domestic person-to-person lending because they got upfront and they’ll figure out this regulatory issue. Because fundamentally what they’re doing is good.
Don’t fear the regulators. Fear not getting traction.
The full program includes:
- Ideas for launching your business quickly.
- A great story about a bike entrepreneur.
- Premal’s feelings on earning less than his old PayPal friends.
- Andrew’s shameless excitement for Kiva’s power to change the world.
[Thank you Sloane Berrent for caring enough about Kiva & Mixergy to make this program happen. The focus on "just launching" was inspired by this Mixergy interview with Guy Kawasaki. And thank you Jay Tillery for matching my Kiva gift!]
Give your feedback
What do you think about launching quickly? Add your opinion to the comments. One commenter will be given $25 (via PayPal) to lend to an entrepreneur on Kiva and experience how Kiva can change the world.
Get the full program
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April 9th, 2009 at 5:02 pm
Andrew, Premal: great interview. Kiva is truly exciting and it really gives every one of us a simple and easy way to do good. The “ease” is key in our busy lives where we want to do things but don't get to them. We created KivaAlerts.com as a way to make it still easier and as our small little way to contribute doing good. I hope Kiva sees the same growth as Wikipedia and more!
April 9th, 2009 at 5:08 pm
Andrew – thanks for the opportunity. The amount of work you put into this really shows and hopefully our conversation inspires other folks to start / ramp new successful, change the world, ventures.
April 9th, 2009 at 5:58 pm
Great interview!
Andrew – I love the way you extracted portions of the interview as text in the blog post. Makes it much easier to determine interest and get excited about the video.
April 9th, 2009 at 5:58 pm
I really liked the interview and love kiva. I have a suggestion for Premal Shah and Kiva. You should expand your website to have a section for sponsoring students. I'm not sure if this already exists but I couldn't find it when I searched. The concept is to have a section where you could either donate to students so they can go to school or lend to them to go to school and after they graduate and get a job they can pay you back… If you did do the lend one they probably wouldn't have nearly as high a stat for paying back.
April 9th, 2009 at 6:23 pm
I just clicked to your site.
Great idea Vaibhav. Helps people find entrepreneurs to support.
April 9th, 2009 at 6:24 pm
Thanks for caring enough to suggest it.
April 9th, 2009 at 6:30 pm
hmmm – Would've appreciated him more without the F-bomb.
Do words count anymore? Oh well.
April 9th, 2009 at 6:34 pm
Thanks Scott.
I'd like to do more of that, but many interviews aren't as quotable. Also,
it takes me FOREVER to do all this.
April 9th, 2009 at 6:37 pm
I know it will.
In that email to Guy Kawasaki that you CC'd me on, you told him how helpful
his ideas were to you when you launched Kiva. A few years from now, someone
who heard you on Mixergy will tell us how much what you said meant.
Thanks for doing this Premal!
April 9th, 2009 at 6:40 pm
I can only imagine how much work these interviews are – and I have no idea how you manage to put out so many quality videos as it is!
Keep it up!
April 9th, 2009 at 6:40 pm
It was the one time he said it in the whole interview. Hope it doesn't keep
you from learning from the overall message here.
Thanks for the feedback.
April 9th, 2009 at 7:03 pm
I've spent some time in under developed countries, and while i do agree there is a distinct lack of capital, i think there is a distinct lack of access to knowledge and information.
Just really simple things, that we take for granted here in the west such as business planning, managing our finances, understanding marketing.
Much of this is missing in these countries because these people are working hard on a day to day basis to survive, yet this very knowledge could empower them to really transform their lives. At least in my humble opinion.
I'd be interested to learn if there was scope to facilitate the transfer of knowledge as well as providing capital.
Just a thought.
April 9th, 2009 at 7:13 pm
Great question buddy.
Maybe 1 Laptop Per Child can help.
April 9th, 2009 at 7:29 pm
Interesting take, but I think Premal/Kiva have a distinctive advantage that isn't addressed (at least in the short clip, heading over to the extended cut after this)…
Kiva's a non-profit with GOOD intentions. Sure, regulators and the powers that be will be much more forgiving/accomodating if you're out to save the world, but what if your startup appears/is LESS than honorable or pushes the boundaries of legality/good taste/social acceptability/copyright in some novel way?
If the regulators don't get you, you can bet that the eager-to-crucify media will (if there's any edginess or questionable legality whatsoever).
THAT BEING SAID, I think erring on the side of “caution to the wind” is the only true way to get anywhere and beat the next guy. I love Kiva. Kudos. Thanks for the perspective.
April 9th, 2009 at 8:36 pm
Tom, great point!
Premal actually said in the interview that it was a big help.
My feeling though is that being a non-profit means it's harder to take risks
because there's more scrutiny. In the interview I said I felt that the
reason he could take risks is that he was on a mission. When you're on a
mission, you can always find a way to make things work and obstacles don't
stop you.
April 9th, 2009 at 8:38 pm
you definitely have to just launch. we lauched full of bugs (still a few lingering) and if we had not have taken a “get to market now” approach, our growth would have been severely hindered and our ability to raise funding would have been shot. having a live beta to demo is highly beneficial for funding pitches
April 9th, 2009 at 8:49 pm
Thanks Ryan. Your business looks great.
April 9th, 2009 at 9:11 pm
What a great interview…really inspiring. I'm going to have to re-watch this.
I applaud Premal's initiative for launching aggressively before everything was figured out. I think the key in humanitarian ventures is momentum. If you've got a worthwhile cause, people tend to understand, and they'll forgive mistakes and do whatever they can do to help you out.
I orchestrated humanitarian assistance missions for the Navy during Pacific Partnership 2007 and 2008, and I know from experience that sometimes you've got to go ahead and try to get the job done before you've got all your ducks in a row. It's amazing how potential showstoppers like getting medication and supplies stuck at customs can be solved within minutes once the officials know what it is you're trying to do.
April 9th, 2009 at 9:22 pm
I couldn't have said it better myself. Thanks for participating Jeff.
April 9th, 2009 at 9:31 pm
This is great!!! I know Kivak from Harish Rao (EchoDitto) which put Kiva's site together. Ask Premal Shah if he knows Harish. I met Harish through Andrew Hoppin (@ahoppin) who is now the CIO for the NY State Senate, after we co-founded with some Brazilian entrepreneurs, DEA Brasil, to bring to Brasil's political and social sectors, all the experience, methodologies, strategies and technologies from the US Internet Politics initiatives. We deployed Wiredforchange (April and Chris) platform Salsa in Brazil's municipalities' election last year and since, we've been adapting and shaping our model that would work for Brazil. Let me tell you, it is so complex with regulatgory and political barriers, including dealing with entities that may carry different values than yours, and there are so many instances that makes you walk a fine line, or even beyond the legal borders. This vid was very encouraging cause now, there's no stopping…
April 9th, 2009 at 9:35 pm
I think it's an awesome idea to launch quickly. The book by 37 signals “Getting Real” is an awesome way to learn how to get started quickly as well. To the winner of the $25 I'll match that with another $25 to lend to an Entrepreneur on Kiva.org
April 9th, 2009 at 9:36 pm
Wow! Very cool blog that I will be recommending.
I love what Premal Shah has achieved with Kiva and really do hope it soars. However I disagree a little with his viewpoint on dealing with regulators and rules. Yes, you should go ahead and launch even if you have a few bugs or an imperfect business model. But if legal transgression results in the cost of interminable litigation or destruction of shareholder value, this seems counterproductive.
When we launched iWantMyName we were careful to operate within the regulatory frameworks established by ICANN. This may seem like a conservative approach but the market for this particular product is already highly competitive and mature. The good news is that we are paving the way for potentially more edgy products in the future by first building trust with our audience.
April 10th, 2009 at 10:40 am
Thanks for this video. It's inspiring for me to hear Premal talk about “Just Launching” because I did exactly that with Lend4Health (http://www.lend4health.org) almost a year ago, inspired by Kiva as a way to help people with health-related expenses. I literally just sat down and started it as a blog bc that's the only thing I knew how to do.
My understanding was that Kiva (and Lend4Health) would not be regulated by the SEC because we are facilitating interest-free loans, but this post makes me wonder. Is Kiva regulated by the SEC? And what other regulating bodies are there that Kiva is trying to stay compliant with?
Thanks! I like your site!
Tori Tuncan
Founder, Lend4Health
http://www.lend4health.org
April 10th, 2009 at 12:47 pm
Hi,
I haven't used Kiva yet, but I definitely plan to.
An inspirational chat for the budding entrepreneur, and really nice to see someone that isn't motivated by the money, but rather the social impact.
As an idea, instead only giving the opportunity to give loans, why not allow lenders to buy some equity in the products, too – or a combination of the two. This probably makes sense for larger amounts.
I.e. Someone requires $2000; They get $1000 as an interest free loan and the remaining $1000 as an X% equity in the new business.
If you buy equity in a business you are much more interested in that business being successful – indeed, you'll give ideas, introduce new people and concepts just to help it to be a success.
If you lend for an expected interest-rate based return, irrespective of how the business performs, then you get a lot less buy-in. If there is one thing that this banking crisis has taught us, is that when banks don't care or take an interest in their clients, things just go wrong.
Good luck with Kiva!
April 10th, 2009 at 1:00 pm
Wow, thank you so much for this interview. It is my first time to your site and I will definitely be coming back. I was inspired and found the insights and perspectives shared during the discussion to be really valuable. I did watch the summary video first and then when I saw your description of the additional points that you touched on in the full video I had to see it. Great job!
April 10th, 2009 at 4:38 pm
I knew about Kiva but I didn't know who was behind the company.
This was a great promo for the site, imo.
Andrew, may I suggest you put a small bio on your homepage, and when users click on the read more link, make it jump to your about page where we can read a bit more information about you. I'm not sure if other people care about that, but I do and I lack the time to start looking for it.
I did notice Premal Shah wasn't all that comfortable answering your question about the economy and he side stepped or misunderstood the data question, I think.
For some people this interview will serve as a reminder that not everything's about the money. It's about helping other people.
I don't have the time to listen to all your interviews (short and long), although I must say it's good you give us the option + text. I wouldn't make any changes right now.
What made me listen to the interview was seeing the words “Kiva launched before every detail was figured out” (I guess this was the reminder I needed)
I skipped everything else and started listening to the entire interview because last time I listened to the short version of an interview I ended up listening to the entire interview and I didn't regret it.
April 10th, 2009 at 6:43 pm
2% default rate? If that's not enough to kill the notion that micro-lending works nothing else would. Years ago I heard about micro-lending and i was floored! i could not believe that a simple idea like that could change the world. It sure change my thinking about world poverty. My basic feeling before was, this is a huge problem and there is not enough ressources in the World to solve it…Boy I was wrong! Rich countries cannot solve the problem but people in those “poor” countries could absolutely do it (with just a little help)! That was an eye opener for me at that time. It is nice to see that a company like Kiva is able to do so much good around the World. I love that Primal was able to accomplish and that is able to share his experience.
No now I may appear “heartless with the next comment but here it is anyway:
If Kiva was actually providing a small % return on investment to people who contribute, I believe he could X100 the amount raised. A lot of people have money seating at the bank getting 1-3% at max. If they could get the same (or just a little bit more) I think more people who love the opportunity to get the same return that their AND they will do go at the same time. Of course Kiva cannot guaranty returns (you can lose everything) but that's ok if you are in it mostly for the good it does around the World and that you are putting in only the amount you can comfortably lose (with a default of 2% — I would lose sleep over this).
Still I think people would put MORE of their money into helping Kiva than they would otherwise. In the other side of this coin is of course the entrepreneur. For now, he/she is getting a free loan. which is alright with me. Still I also think that the entrepreneur would become prouder of his/her accomplishment if he/she is able to not only return the orginal money but also HELP the original “rich investor”. It become a two ways street. It may seems cruel to charge interest but i think if someone gave me money to grow my business, I will feel much better if I could not only repay the money but add some extra value.
Now, they do not have to charge a small interest on all loans. Maybe it has to reach X dollars to trigger interest (at maybe different rate for different amount level)
Still even without interest this effort is more than worth the support. I was just trying to help think of ways to increase even more the reach of this idea.
Thanks Andrew for bring another superbe interview. Thanks Kiva for changing the World one person at the time.
Mo.
April 10th, 2009 at 6:53 pm
Oops! I forgot about the SEC regulations of interest loans…!
Mo.
April 10th, 2009 at 9:52 pm
Really is tough.
I looked you up online. Did you work with Uproar.com years ago?
April 10th, 2009 at 9:52 pm
Great idea starting out with a blog.
I'm no sure about their regulation. Good question.
April 10th, 2009 at 9:52 pm
Jay, that's very generous of you.
How about *you* pick the winner? We'll do this together.
April 10th, 2009 at 9:52 pm
I don't mean for this post to make anyone feel like they should ignore all
the rules. I just mean that they shouldn't bog you down.
How's your business going?
April 10th, 2009 at 9:56 pm
Yousef, thanks for the comment.
I think the goal is to make them self-sustaining. So they don't have to
depend on us.
Also, these are very tiny loans. I think $2,000 is way more than most of
them need.
To give you a sense of how little they need, here's a woman I made a loan
to. (She paid me back.)
http://bit.ly/1rEmaz
April 10th, 2009 at 9:56 pm
Thanks Daniel.
Those summaries take me a long time to do, but I think they're helpful. I
figure if I was going to try to decide whether to invest an hour of my time
to listen/watch a full interview, I'd want to know what I was getting into.
Glad you found this site! Looking forward to getting to know you through the
comments in by email.
April 11th, 2009 at 3:06 pm
great interview, the video made it more personal. typically I listen to Mixergy while conducting other tasks so I'm not really watching the video as much as I'm listening to the conversation taking place.
I think Premal is a “GameChanger” since hes defining the rules by moving forward without validation and taking educated risks to “change the game”. This interview is a great example of someone who understands business improvisation.
I was surprised by the 97% repayment rate, that's probably a better repayment rate then these sub prime mortgages we have out here, hahaha!
April 11th, 2009 at 10:05 pm
In the intro video, you ended it saying, “Thanks, i'm Andrew… ”
I think as part of your brand, you should go as “Andrew Warner”… since thats how you've always introduced yourself in your videos… feels odd when you call yourself just “andrew”.
April 11th, 2009 at 11:55 pm
I second that!
Mo.
April 12th, 2009 at 3:34 pm
FYI: The borrowers are paying an interest rate to the Microfinance Institutions in the developing world who are partnered with Kiva. That is how the MFIs stay in business.
April 12th, 2009 at 4:05 pm
Hello Tori.
I realize now that my idea was half baked… thanks for pointing out the way MFIs are rewarded for their work. It makes perfect sense. Do you know by any chance the average % they are getting. Just curious.
Thanks again Tori.
Mo.
April 13th, 2009 at 1:09 am
Deep Patel made a couple of good points. P2P financial services will continue to find life difficult as long as regulators hammer them. But how ironic this is when you consider how ineffective the regulators have been monitoring the big guys. Perhaps they prefer low hanging fruit.
The reality is that the financial “establishment” don't want to entertain “game-changing” business models because it undermines their position. Of course Kiva could be the thin edge of the wedge if they can sneak in under the radar on the basis that they have altruistic motives.
April 13th, 2009 at 1:23 am
Sometimes it is good to push the boundaries and I really do hope that Kiva and others will make some headway (see my comments below re the financial “establishment”)
As for our own company, iWantMyName is gaining traction slowly but surely. For us it is primarily a demonstration of capability because we plan to spin off other projects in the future that leverage the technology in other ways. We see future opportunities in different verticals as well as with the new TLDs and internationalised domains. I guess our approach differs from Premal because knowing the rules and being able to write software to manage processes within those rules is actually part of our competitive advantage.
Watch this space!
April 13th, 2009 at 1:32 pm
I hope others feel the way you do about the interviews. I don't want people
to feel obligated to listen to every one of them–just the ones that fit
your needs.
I intentionally asked him about the money issue because it's so easy for any
of us to feel less than our friends. I'm hoping his answer will reverberate
in our heads next time we care about our friends make.
April 13th, 2009 at 1:33 pm
You picked a great name for your company, by the way.
April 13th, 2009 at 1:36 pm
I was amazed when I got my money back after lending it on Kiva. I knew I was
*supposed* to get it back, but it's still amazing.
I wonder how this will work out in the US.
April 13th, 2009 at 1:39 pm
I wonder if we'll ever see big banks like Citibank facilitate
person-to-person loans. Or will they miss out on it the way they lost online
payments to PayPal.
April 13th, 2009 at 1:40 pm
Not half-baked at all. Thanks for posing the question.
April 13th, 2009 at 3:51 pm
That's exactly right. Same thing as the 4-minute mile . . . once you know it's possible, you just go out and make it happen for yourself too.
Thanks for Kiva, Premal. Thanks so much for Mixergy, Andrew (and for videos! Really makes is so much more personal!)
Do either of you think it's possible to use a not-for-profit service that people love, like Kiva, to drive awareness to a for-profit endeavor that provides the kind of service people are glad to pay for? So that you can “do well” while “doing good?”
Keep up the great work, both of you. It's much appreciated.
April 13th, 2009 at 8:58 pm
Thanks Brenan. Olivia, my fiance, just talked to the founder of Ethos Water.
He's a big believer in the combination you're suggesting: doing well and
doing good. He created a non-profit to go along with his for profit. Ryan of
Causecast did the same.
April 14th, 2009 at 6:38 am
Some people claim to be trying to save the world whilst living on a completely different planet!
Not Andrew Warner or Premal Shah. These guys live in the real world, and they’re using their talents, time, energy, love and enthusiasm to make a difference.
I’m grateful.
Grateful that Andrew constantly gives us access to the best information from the best people. Grateful he doesn’t “show-off” or boast about his own considerable achievements.
Instead Mr. Warner asks the most relevant, insightful, and practical questions. And what we learn we can apply right away and see real improvements and results in our own businesses and lives.
I’m grateful too to Premal. Because he reminds us “there’s the currency of money and the currency of meaning”. And whilst we absolutely need to build strong businesses, make money, and help others, perhaps its our desire to “make meaning” that will help us find the greatest rewards in life.
April 14th, 2009 at 7:30 am
Andrew, thank you very much! That one came right in time. Launched my product yesterday!
Greetings from Germany,
Wolfgang
April 14th, 2009 at 1:56 pm
Wasn't that a great line about money?
I'm really glad I got to meet Premal.
April 14th, 2009 at 1:56 pm
Congratulations. I'm on your site now. It looks great. You must be proud.
April 15th, 2009 at 3:27 am
Hey Andrew, you have been my first visitor from overseas. I am now starting to build my tribe…this is going to be a uphill battle…but it'll be hopefully worth it!
Your interviews are a great source of motivation when working on my project after my daytime job in the evening. Keep on the good work!
April 15th, 2009 at 12:11 pm
Andrew and Premal – You both know how passionate I am about Kiva. That's why I'm so thrilled the two of you connected.
When I first learned about micro-lending and the roles of MFI's in developing countries it was through Muhammad Yunus' book Banker To The Poor. I was floored at how a small gesture could make such a huge impact simply by man helping fellow man. When Kiva came on the scene, I immediately was attracted to their mission and raising awareness of how Americans can help people in other parts of the world.
Recently, Kiva announced that they were going to be launching American-based lending. I think this is a brilliant next step. In a city like New Orleans for example (where I am currently on an extended volunteer trip), people are still really struggling post-Katrina. Job creation is a key component to revitalizing this city and in low-income neighborhoods around the country we see people struggling to get out of poverty and I believe this new Kiva initiative could really help.
Keep up the amazing interviews Andrew!
April 15th, 2009 at 3:00 pm
Thanks!
Let's help you get waaaay more visitors from all over the world.
April 16th, 2009 at 3:58 pm
Andrew, thanks for this interview…you clarify a lot of questions and I decided to join today. I started with 2 loans and hopefully will keep helping others in the future.
April 16th, 2009 at 6:04 pm
[...] called: Online Giving Marketplaces: Changing the Face of Philanthropy (see his recent interview on Mixergy). After being laid off, I remembered reading about the Kiva Fellows program and really connecting [...]
April 16th, 2009 at 9:06 pm
Thanks.
I emailed a copy of that nice note you sent me the other day to Premal
so he can enjoy the impact his work is having.
April 17th, 2009 at 3:24 am
Daniel – There is a non-profit based out of Seattle, Vittana Foundation, that is looking to launch a P2P platform (similar to Kiva) exclusively for funding of student loans in developing countries. Check out their site. I just signed up to get e-mail updates for when they go live.
http://vittana.org/
Andrew – Vittana's founder and CEO, Kushal Chakrabarti, has a similar background as Premal Shah. He was formerly with Amazon.com before leaving to pursue the nonprofit world. Kushal would be a great subject for a future interview. Just came across your blog and will be adding it to my RSS feeds. I look forward to seeing more of your interviews!
Regards,
Ronan
April 17th, 2009 at 3:41 am
Tori,
Kiva is not regulated by the SEC because the funds are not invested in securities and lenders acknowledge through Kiva's “Terms of Use” that they will not receive a return on their funds.
I'm not aware of any government agencies that require compliance (other than the IRS for maintaining 501c3 status). I know that Kiva does disclose its financial information to nonprofit watchdog organizations, such as Charity Navigator.
Regards,
Ronan
April 17th, 2009 at 3:49 am
Mo,
Kiva publishes the interest rates each of its Field Partners charge:
http://www.kiva.org/about/partners/
You will need to click on the specific Field Partner's page to find the information.
Regards,
Ronan
April 17th, 2009 at 11:50 am
I never heard of them. Thanks for the heads up!
And welcome to the Mixergy mission. I'm going to find as many successful
people as I can and ask them to come teach us what they learned.
I won't be successful in this mission unless *you* are, so keep telling me
what you need to know and who you want to learn from. I'll hunt them down
and ask them to come here to help.
April 18th, 2009 at 6:19 am
Khuram,
Many of the microfinance institutions (MFIs) that provide loans through Kiva also provide business training and support services to their borrowers. In fact, many of them require that they receive training as a condition of receiving a loan. The MFIs have a vested interest in seeing their clients succeed since they want to be paid back.
Many of the Kiva field partners have their own websites that contain information about the types of services they provide in addition to microloans. I've listed a few below.
Regards,
Ronan
Sinapi Aba Trust (Ghana):
http://www.sinapiaba.com/links/areas_of_exp.html#
http://www.sinapiaba.com/links/services.html
ASKI (Philippines):
http://www.aski.com.ph/bdss.html
http://www.aski.com.ph/community.html
Esperanza (Dominican Republic):
http://esperanza.org/us/index.php?option=com_co...
April 19th, 2009 at 10:14 pm
Great interview! Thanks a lot for sharing it, so much to learn from this! Kiva totally rocks, and the story of how they took off is amazing.
April 20th, 2009 at 12:09 pm
Thanks for adding this info Ronan.
April 20th, 2009 at 12:09 pm
Thanks Ramin.
Got your email, by the way. Looking forward to chatting about your site.
April 21st, 2009 at 6:52 pm
[...] Shah. Just launch is his advice for entrepreneurs wanting to start a company. Check it out here at Mixergy.com, this site has loads of great interviews with entrepreneurs all for FREE. Share [...]
April 24th, 2009 at 12:37 am
Excellent interview with an inspiring human being and idea. Thank you for this!
April 24th, 2009 at 12:57 pm
Thanks Curtis.
And the ideas he talked about can be used by anyone in any business, even if
it's not a non-profit.
I really appreciate your comment Curtis.
April 24th, 2009 at 2:58 pm
Great stuff Andrew! I will be telling people about Kiva and using it myself! Really really great cause.
April 24th, 2009 at 3:09 pm
I introduced some people to it on Twitter last month. One of them lent money
and told me that a part of her loan was already repaid. (She won't get it
back in her account until the whole loan is repaid.)
Very impressive org.
April 24th, 2009 at 9:40 pm
[...] How Launching Before Being Perfect Heped Kiva Chante the World: Some advice that we still need to adhere to. Good story! [...]
June 17th, 2009 at 2:07 am
It's 2a.m.!! Where are all the AMBITIOUS upstarts at? lol. Andrew and everyone on here rocks!
October 30th, 2009 at 10:45 pm
[...] and poke around. If it doesn’t sound interesting, start with the interviews of Derek Sivers, Premal Shah and Yossi Ginsburg. If you don’t find those interesting and inspiring, I don’t know [...]
January 26th, 2010 at 9:49 am
[...] reason of why I am in New Orleans and if there is one thing I’ve learned from friends like Andrew Warner, you can get introduced to some pretty amazing people when you ask to interview them. They loved [...]
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