Friday, January 23, 2009

No available Kiva loan requests!

I was going to fund another micro-loan through using the money that has already been repaid on some of my loans from last month, but the Kiva Web site reports that they have no available loans to be funded! In other words, there is actually an over-supply of money to be lent relative to demand for new borrowing. Part of the issue is manpower on the ground in these developing countries to rapidly but properly process loan requests from the local micro-entrepreneurs. Not to complain, because we lenders depend on those local lending partners to properly vet loan requests. The local requests also need to be translated into English.

The list of available loans is updated every hour. I hit refresh a few times and eventually the "no loans" page is replaced with a loan page that has one new loan that was funded even before I clicked "Lend."


But it just goes to show that despite the "recession" and all of the people who have lost jobs, there is still a vast amount of free cash sloshing around in the economy.

I'll check back at a slower time of day, like maybe early tomorrow morning.

I just hit refresh again and another single loan is available. I clicked refresh again and it was actually still available. A couple more refreshes and it is at 72% funded. I could fund it, but this is an experiment to see how quickly a fresh loan is getting funded. ... 78% ... gone ... and yet another loan comes and goes in a single refresh ... now three loans available ... now gone -- fundraising page says four, but all have been funded! Kiva needs a better real-time database interface. Still, that is a "good" problem to have in today's economy.

Wait... a new loan appeared and still needs another $25 ... click "Lend" ... oh well, "Due to the overwhelming demand of other users, it was not possible to fulfill your loan." Maybe tomorrow.

-- Jack Krupansky


At 4:36 PM , Anonymous Cheryl Mahoney said...

How inspiring is that--too many donors, not enough loans requesting money! It's nice to see something good about donations during this recession. I applaud your dedication trying to find someone to loan money to. I thought you might be interested in another resource for helping those in need as well--I work for UniversalGiving, an online non-profit designed to connect individuals to reputable projects to donate to or volunteer with. Check us out at if you're curious.
Once again, thanks for an uplifting post with some good news from the world of giving!

At 12:06 PM , Blogger Karen said...

Thanks for posting about this. I was starting to think there was something wrong with the site. And I agree, it's great that there are still so many people who want to help even in these tough times.


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