If you’re a Kiva supporter you would have received this news in an email, but I thought I’d post it here in case you missed it as it’s an important change:
Everyone comes to Kiva to make a positive difference in the world, but sometimes life gets in the way. Right now, there is more than $30,000,000 in repaid loans sitting in Kiva accounts—most of which has been waiting to be re-lent for over a year. And we get it! We want to help make sure your funds continue to make the difference you intended when they were first lent. That’s why we are enhancing Kiva account settings to help put your funds to use, even if you don’t have time to re-lend.
Based on your current account settings, if you have enough funds to lend but haven’t made a loan yourself after 90 days, the funds in your account may be auto-lent for you. The first auto-loans from this new setting will be made on May 21st. Please note that auto-loans will also include our standard 15% optional tip to help cover the cost of the loan.
We’re excited that this change will unlock opportunities for more borrowers and make more effective use of your funds.
Questions? Check out our FAQ here.