Kiva FAQs
From Kivapedia
The following are some frequently asked questions, and their answers.
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[edit] Q: How do I create a Kiva account?
A: Visit the secure Kiva Registration Page, and fill in the information, and sign up. It's that easy!
[edit] Q: How does Kiva process my money?
A: Kiva uses payday loan to process all transactions. You can use Paypal to pay for one or more loans that are in your basket, buy gift certificates, load Kiva credit onto your Kiva account, or to withdraw funds that are available.
[edit] Q: How do I get my money back?
A: When your loan is fully paid back by the borrower, you will receive your funds back into your Kiva account as Kiva credit. You can then re-loan this money or withdraw it via Paypal. You cannot withdraw or re-lend your funds until the loan is complete.
[edit] Q: Are the borrowers charged interest?
A: While Kiva does not charge any interest, the MFIs (Category:Microfinance institutions) that Kiva partners with (Field Partner) to actually execute the loan on-site, does charge an interest rate to the borrower. This rate is typically much lower than the average rate available to borrowers via other local money lenders, and is a very fair rate in that area. The interest rate charged by an MFI can be viewed on their Field Partner page.
[edit] Q: Does Kiva guarantee my loan?
A: While the repayment rate for all of Kiva's loans is around 99%, there are many risk factors including political unrest, that can cause a borrower to be unable to fully repay a loan. In these cases, lenders are sometimes paid back a portion of the loan or none at all. Kiva does not guarantee the amount you have contributed to a loan.
[edit] Q: Do I earn interest on my loan?
A: At this time, lenders do not earn any interest on their loan. However there has been some mention by Kiva that they are investigating this option for the future, in line with their long term plans for Kiva.
[edit] Q: I'm having a problem, how do I get help?
A: The Kiva Help Center contains help and contact information, including a 1-800 phone number for Paypal support. The KivaFriends.org website is also a good place to ask questions and share ideas with other lenders.
