08-14-2018, 02:14 PM
No, there’s no IRS tax write-off for any losses on Kiva loans.
I don’t view it as ‘charity’, but more of a hand-up.
I’d rather have my money “used” for someone to work their way out of poverty or be more productive, than see it enrich the banks - because I sure am not getting any other decent return on it anyway...
I have a bit over $5,000 invested in Kiva. This has now been lent out a little over five times. I’ve helped about 1,000 borrowers over the past five years.
I’ve lost $133 in defaults and $85 in currency losses in total - out of roughly $25,000 that was lent out.
I’m much happier with this use of my money. I view it as “social capital” - a small investment for a world of good.
The lastest Kiva loan that I made in Hawaii was to a young farmer who needed to replace equipment that was lost in the April floods on Kaua’i. I’m sure that the interest-free loan is making a difference for her family farm’s recovery.
Edited to add the link to Sierra-Lynn’s Kiva loan, with Slow Money Hawaii as trustee: https://www.kiva.org/lend/1549507
I don’t view it as ‘charity’, but more of a hand-up.
I’d rather have my money “used” for someone to work their way out of poverty or be more productive, than see it enrich the banks - because I sure am not getting any other decent return on it anyway...
I have a bit over $5,000 invested in Kiva. This has now been lent out a little over five times. I’ve helped about 1,000 borrowers over the past five years.
I’ve lost $133 in defaults and $85 in currency losses in total - out of roughly $25,000 that was lent out.
I’m much happier with this use of my money. I view it as “social capital” - a small investment for a world of good.
The lastest Kiva loan that I made in Hawaii was to a young farmer who needed to replace equipment that was lost in the April floods on Kaua’i. I’m sure that the interest-free loan is making a difference for her family farm’s recovery.
Edited to add the link to Sierra-Lynn’s Kiva loan, with Slow Money Hawaii as trustee: https://www.kiva.org/lend/1549507