A loan per concert?

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u2search

War Child
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May 30, 2007
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Perhaps this is the wrong place to post this, but I didn't see a better one.

Yesterday I stumbled upon an organisation called KIVA.org which brings together people in poor countries seeking a loan with more fortunate people like us to borrow from. I was totally not surprised to find a U2 community there!

I used the money from a spare GA ticket sale to get myself started there and I read that quite a few members of the U2 community there were making a loan for each concert they visit. I think that's a great idea so I thought I'll post it here.

If this type of links are not allowed here, please remove:
Kiva - Loans that change lives

Just search for U2 on the community page and you'll find it :)

Added: Oh I found this link in an interview with Dambisa Moyo about her new book, "Dead Aid", which sort of is about anti-Bono methods :)
 
What a great idea. I just registered with the site--thanks for bringing it to my attention!

With all the schemes out there to fix problems around the world I'm glad that microloans are starting to gain attention. I truly believe that this is one of the greatest ways to improve lives and start to build up local economies.

Go U2 fans!
 
Lets spread the debt, as if these people were not poor enough.

2 cents.
 
Thanks for your support DontExpect!

@ vaz02: Great attitude! Now that will help people who want to develop their own business and actually do something about their circumstances!
 
u2search said:
Thanks for your support DontExpect!

@ vaz02: Great attitude! Now that will help people who want to develop their own business and actually do something about their circumstances!
Click to expand...

How exactly does going to a U2 concert help with someone's circumstances if they're poor and out of a job? :scratch:
 
Have you even read the original post Galeongirl?

One thing may not have been clear for those that didn't click the link: the site is about people in poor countries that actually have their own businesses and need a load to improve on that. It's quite a success story.

Going to a U2 concert in itself doesn't help them, but spending some extra money for each concert you go to does. This is not my idea, I read it on the Zootopians team page on the Kiva website. (Sorry can't link to that, you have to log in first).
 
A better idea is to be a venture capitalist to these businesses - u2search
 
This is the closest to being a VC as you can get, without going to visit those countries and personally select the businesses you're lending to, in my opinion.
 
Great idea! I'm not huge on aid and charity, but I know that microloans DO change lives. Like U2search says, I do think this is the closest/best thing you can do short of traveling to these countries and getting in business personally. I've met people IN east Africa who have turned their lives around with a microloan, or even something as simple as a single goat or a bicycle.
 
vaz02 you may not be familiar with the work of Muhammad Yunus (Nobel Prize winner 2006). His work on micro credits has been instrumental in changing the lives of many people in Bangladesh.

He came to MIT last year as the commencement speaker and his speech is below.

Commencement address by Muhammad Yunus - MIT News Office

I'd strongly recommend you to read it if you actually want to know a little bit of what you are talking about. Then read more about it. It can be inspiring.
 
vaz02 said:
A better idea is to be a venture capitalist to these businesses - u2search
Click to expand...

Since when is loaning money to someone who wants to start a business a bad thing?

Not everyone can afford to be a venture capitalist.. micro-loans just open the door for more cash flow. And in case you didn't notice, these aren't typically businesses that will produce a huge amount of $$ from investments and go public. They're usually small, individually run businesses meant to provide a solid income for that individual and their family - specifically to pull them out of poverty.
 
I have used Kiva lots and currently have 10 loans out to people all over the world. Its a great easy way to help others, and I highly recommend it. I had no idea there was a U2 community there! Thanks to the OP for letting me know. More of us U2 fans should get involved with Kiva. Now I'm off to go check out the U2 community over there. :wave:
 
Thanks for posting to all the supporters. I encourage all readers to go check the site and see for yourself. You can find the U2 community by clicking "Community" and then search for U2 or Zootopia.

Kiva - Loans that change lives
 
Are you suggesting that we join Zootopia's group on Kiva? What about starting an Interference Group to compete?
I'm on board either way, but I love the thought of competition.


Mark
 
Welcome on board. Feel free to start a competing group, I might join :) But why split up the U2 community on Kiva? Maybe it's better to join forces.
 
u2search said:
Welcome on board. Feel free to start a competing group, I might join :) But why split up the U2 community on Kiva? Maybe it's better to join forces.
Click to expand...

I'm open to whatever. I was just thinking a little competition in fund raising (fund loaning?) would be good.

Anyone else have an opinion? Join forces or make an Interference group?


Mark
 
Wow, that's great!. Hi Mark, I hadn't made the connection yet between the new 'Mark' on Kiva and you here.

And welcome to kellyahern as well, of course!
 
kellyahern said:
I just joined too. It's a really cool place.
Click to expand...

No kidding. I actually get tingly reading through the people's business plans and then funding them.

The maps are cool, too. Seeing the links between lenders and the business people is neat.

Checking out the teams and what different people compose them is interesting, too.


Mark
 
u2boy_nl said:
Interesting idea.

There's no interest?

If i lend 200 euros, i'll get my 200 euros back but no interest?
Click to expand...

That is the idea. No interest for the lenders. You should get your money back but they don't guarantee it. Their track record so far seem to be very good though. If you lend in euro's, you have a risk/profit chance with the dollar/euro ratio.
 
:bump:

One last shout for anyone who might be interested in lending on Kiva for their North American concerts.

Each of my borrowers are fully funded now and due to start paying back next month. It really is a cool process.


Mark
 
Another :bump:

Anyone looking for year-end donation ideas, check out:

Kiva - Loans that change lives

The loans are loans, but don't return interest for you. You have the option to donate to Kiva to pay their administrative costs. It's very interesting and rewarding so far.
I made a loan to a couple in Cambodia that needed $300 to expand their business. $300!!! How can you not help them out? $300 doesn't even cover office supplies for my small business this year.


Mark
 
I'm a member of the Zootopian Kiva team but was participating in Kiva before the team was formed. It has been a very positive experience for me even though several of the loans defaulted. You can check on the funding group's track record to get an idea of the risk of default. My defaults were in countries that recently underwent significant turmoil so I was not shocked by the defaults. 99% of the time my loans were promptly repaid and I was able to roll the money over into new loans.

I have been funding loans recently in response to each time I bought tickets for the U2 360 tour - it's a good way to help others and have a great time, too. I have been inspired by the stories about the borrowers and the struggles they face every day. I recommend the site to anyone with an extra $25.00 to spare.
 
:bump: again.

The Zootopian Team on Kiva is funding great things through micro-lending. I thought I would bump this up again and ask if anyone is interested to join Kiva and pledge one loan per U2 show you are going to. You can lend as little as $25. You are not paid interest, but you have the satisfaction of choosing what country and what business venture you are willing to help.

Kiva - Community

You also can donate to Kiva to fund their field offices and help facilitate the micro-loans. This type of donation is tax deductible in the U.S. (and elsewhere?).

It's really satisfying.
 
I'm actually just hearing about this site now, which surprises me since I've read up on micro-lending in the past. I'm gonna have to check it out.
 
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