June 2008 Archives

Darren Sudman talkin' 'bout KivaB4B in the news...we're so proud

Accion International comes to Chicago

While at the Harmony Festival, I got a recurring question:  "What about microloans for companies in the US?"

After all, there are many areas - which are struggling - that could use credit (even a small amount).

Actually, this is what Accion International is doing (this is according to a piece in the Daily Herald).  For example, in Chicago, the average microloan is about $7,668, with an interest rate of 12.5%.  Some of the borrowers include:  a printer, jewelry store, hair salon and janitorial service.  What's more, a large percentage of them are immigrants.

So, click here to check out the article in the Daily Herald.

The Kiva Launch Party Video

It's amazing that it's already been a couple of months since the official launch party for KivaB4B. This video is short and sweet, but gives a real flavor of the event which seemed to find a balance between shwanky and home grown. I suppose it was the friends who were visiting from a bunch of different countries and the DJ spinning tribal electronica. Check it out.

Speaking about Microcredit - The language of Harmony

For those of you have never been to a music festival in Northern California, it's hard to put it into words. You have the chance to meet unique people named, 'Noodle,' 'Crystal Head' and 'Bike Hugger.' You may even have a chance to take a 'Hippie Bath,' which I learned is a head to toe spritzing of, in my case, lavender scented holy water. If you are trying to set up a booth, don't depend on finding things very easily. There are good intentions and then there's good organization...and perhaps the two don't always go together.

That said, it was a fascinating experience and we learned a lot about how people respond to microcredit, in general, and Kiva and KivaB4B, in particular.

Our first takeaway was that people love Kiva...see my post 'To Know Kiva is to Love Kiva.'  Talking about KivaB4B and the co-branded card was easy with this group.

However, it wasn't as easy to bridge the gap between some of the other groups we encountered. For example:

1. There were many folks who had heard of Kiva...they would say something like, "oh, yeah...I remember Kiva. I heard about them on Oprah." 
2. Then, there were those who had heard of micro credit, but not Kiva.
   
3. Finally, there were those who hadn't heard of either, but were pulled in by the 'helping entrepreneurs' message.
   

Talking about microcredit and Kiva was easy. We could actually invite people into the experience. However, finding a way to take that step to the credit card will take some creative thinking. 

Nancy Price: modern-day armchair lender

Nancy Price is the cofounder of SheKnows.com (which got its start in 1999).  She is also a big-time Kiva fan.

For example, she has "helped buy cows in Azerbaijan, food in the Dominican Republic, clothing in Kenya and fund construction in Mexico."  And, of course, it was all from her computer.

Yet, as she notes, the process isn't impersonal.  Basically, on Kiva you can easily search for entrepreneurs and read the profiles.  When you make a loan, you'll also get periodic updates.

She also mentions that Kiva gets a lot of help from PayPal, Google and Yahoo! (such as in terms of processing and advertising).

So click here to check out her post.

Why I love Kiva & Advanta

I first heard of micro loans years ago when the Grameen Bank began their innovative program of helping small entrepreneurs in the Third World, and I thought it was a brilliant concept. Then more recently, when I learned about Kiva, I thought that it was one of the very best ideas I had ever heard of, and I realized that it is a great opportunity for me, as just one person, to be able to help in a meaningful way. I was really inspired and immediately picked four women to receive my loans.

It is such a great feeling to know that I can participate directly in the Kiva/Advanta partnership, so that a small loan I give to a Third World entrepreneur can make a big difference in her life and help her advance her business and result in financial security for her and her family.

Poverty is the root cause of much of the world's problems - wars, disease, hopelessness, environmental damage, crime, drug trafficking and more. Now, because of the brilliant partnership between Kiva and Advanta, ordinary people who want to do something meaningful can take direct action.

I hope that when millions of people in the developed world learn about the Kiva B4B Community, they will realize what a powerful force for positive change it truly is, and they will get involved.

I was glad to be invited to Philadelphia to participate in the launch of the B4B program and meet Senerita, one of the women whose small business I had made a loan to. In fact, I was so inspired from that experience that I added another four loans to my list.

I focus on lending to women because when you help women, you automatically help their children, and also because women in Third World countries usually have the least amount of personal power, and building their own business can help change that.

I hope many people will read about Senerita, watch some of the video that Erick took and displays in other parts of this blog, and then go to www.kiva.org and start making some micro loans! -- Karil Daniels

To know Kiva is to love Kiva

At the super groovy Harmony Festival in Santa Rosa spreading the KivaB4B gospel. Although we are not the typical booth here, we 're enjoying the Native American flutes, the thumping electronica and the Aboriginal didgeridoos...although all three at the same time from all directions can be a bit unsettling. Perhaps it's the enthusiasm of the crowd or maybe the inevitable contact high, but there's an amazing thing that happens when people see and recognize the name 'KIVA' on our materials. Not once does someone say anything like, 'Oh, Kiva, they're pretty cool,' rather, there's a twinkle in the eye as they say something like, "KIVA! I LOVE KIVA!!!' It makes it a lot easier when people are so enthusiastic.




yes, that is George Clinton.

Green Festival in Chicago for KivaB4B.org

My co-worker and I, Shirelle James arrived in the Windy City on Friday May 16th for the Green Festival to raise awareness about the KivaB4B.org initiative.  The Festival was being held at the beautiful Navy Pier overlooking Chicago's skyline.  It showcases more than 350 diverse local and national green businesses displaying and selling eco-friendly, fair trade and sustainable products.

 

 

 

 

 

 

 

 After setting up the KivaB4B booth with much success, we decided to get a good nights rest to prepare for our long day on Saturday. 

 

 

 

 

 

On Saturday, Shirelle & I manned the booth from 10 O'clock in the morning until 7 at night.  We had a blast!  We talked to so many people who knew so much about Kiva.org, but not enough about KivaB4B.org.  Once we explained to them more about KivaB4B.org, let's just say they were ecstatic, and couldn't believe a bank was behind this cause. Shirelle and I signed up dozens of people to the KivaB4B blog page, and had many sign up for the KivaB4B Advanta credit card.  Many people were impressed with the KivaB4B initiative, and wanted to be a part of it.  They were impressed with Advanta for not only being socially responsible, but because they knew they could double the impact of a grant by simply using the KivaB4B card. 

 

 The last day of the conference was on Sunday.  We wrapped up the conference with a bang.  We met some wonderful people, and even gave away KivaB4B t-shirts (see our t-shirts above).

The Kiva Connection - Inc.com bloggers highlight Kiva borrower stories

This is a cool idea for a company devoted to entrepreneurship. "This past December, Inc.com embarked on an editorial project to cover the rapidly growing phenomenon of microfinance. As a staff, we contributed a modest sum and became lenders on Kiva.org, sponsoring a diverse group of entrepreneurs that includes Phal An, as well as business owners located in Peru, Ecuador, Uganda, Tanzania, and Tajikistan. Updates on these entrepreneurs and their businesses and how they are using their loans are being posted frequently on a new Inc.com blog called "The Kiva Connection."

The most recent post is a great interview with a rice winemaker from Cambodia. Link here.

We're blushing -- Great post about KivaB4B

Paul Marsden on his ClickAdvisor blog wrote a very flattering post about Advanta's two latest initiatives, ideablob.com and kivaB4B. He referred to them as 'crowdsourcing' and 'crowdfunding' platforms. I hadn't heard the term 'crowdfunding' before, but it definitely describes Kiva well.

I don't think we could have gotten a quote as supportive as this even if we went out a did a pay for blog post kind of program (hmmm....how much do those cost?). Paul says,  "In a nutshell, we think kivab4b is brilliant. We just wish Advanta cards were available in the UK - we'd change credit card providers in a flash for this, it's brilliant marketing, smart use of digital media, and exemplary CSR. Other brands - particularly, financial services brands, could learn from this..."