Jul 5, 2018
Hi, I'm new here and I'm amazed and surprised that there are loans of 10$ or there about.
Does this 10$ really make a difference? I mean, 10 bucks it's two coffees for me...here, in the rich west...
I find it hard to believe.
I did lend someone the requested amount, of course.
I'm intrigued....can't wait to know how my lender will be doing.
Gabriel Fenili, Su Rono, S. E., Duo Neka and John Chapewa like this.
Jul 19, 2018
I have been with Zidisha as a lender for quite some time. I have seen loans of 10.00 make a big difference in someones business. Some borrowers sell used clothing or shoes. 10.00 gives them an opportunity to add new stock. It does not sound like it would have a hugh impact but it truely does. I encourage you to loan what you can to help folks make a difference in there commumities. Read the stories, ask questions of the borrowers and offer encouragement when you can. Life is not easy in many parts of the world. Zidisha is a helping hand up and a lifeline for many. Welcome aboard!
Fitri Fauziyah, Su Rono, S. E., Julie, Duo Neka, Mimin Munawaroh and Nathan like this.
Sep 21, 2018
I have totally agreed with TC from Belgium,the starting loans are just too little and nothing really one can do with it at all.Especially now its almost nothing $1. its just give headaches! Its better $30,$40,$50 in this range.
Noord Brabant, Netherlands
Jul 7, 2018
The loans of every new borrower will start with a (relative) small amount. They must first build creditworthiness by repaying small test loans over a period of time. If they repay their loan on time then their credit limit is increased. So by working hard and sharing their story about what they were able to do with the loan they are able (and allowed) to get a bigger loan with a max of 10.000$
10$ Is worth a lot less is Belgium then in other parts of the world. In Indonesia a low monthly salary starts with 140$ so 10$ is 2 days of salary. (). In my country (the Netherlands) I can buy 1 pizza with 10$.
More useful info is available her goyimei.info/faq
And if you want to see some of the project updates you can check this page goyimei.info/project-upd...
You could also check our blog
Betsy writes great stories about how Zidisha changes the life of our borrowers and their family/neighborhood.
Gabriel Fenili, Su Rono, S. E., dave2319, Julie, Duo Neka, Mimin Munawaroh, Adu-buabeng Dominic and Nathan like this.
Jul 8, 2018
Thanks for the info.
I was getting the feeling it was like that, starting with a small amount and if all goes good the amounts can increase.
I don't find it in the FAQ's though.
What I find annoying in the FAQ's is the different names lenders or entrepreneurs or applicants or borrowers have.
That's four different words for the same? Makes it all a bit confusing.
Not the biggest problem in the world of course, I know, just a small annoyance.
Gabriel Fenili, Su Rono, S. E., Duo Neka and Joost like this.
Jul 9, 2018
Entrepreneurs, applicants and borrowers are all terms for the people asking for a loan, and 'borrowers' is the most-used term.
Lenders are different though. Those are people like you, who lend the money.
Also, welcome here, Thomas!
TomF925, Su Rono, S. E., Duo Neka and Mimin Munawaroh like this.
Jul 21, 2018
You can see how far your money goes in each country here:
In Ghana, where most of my borrowers are, Accra (the capital) is expensive and $10 doesn't go far. However, outside the capital city, it can be 3 or 4 days' wages. What buys a cup of burnt coffee from Starbucks here can buy a big bag of beans and rice for resale/prepared food.
Fitri Fauziyah, Su Rono, S. E., Duo Neka, Mimin Munawaroh and Joost like this.
Jul 27, 2018
Thanks to the lenders. hopefully cooperation can be more familiar to help the developing economy.
Translated by Google
Terima kasih kepada para pemberi pinjaman. semoga kerjasamanya bisa lebih akrab untuk membantu perekonomian berkembang.
Julie likes this.
Aug 5, 2018
A month ago I lend $10, and the result?
I sort of got the $10 back but nothing from the entrepreneur or applicant or borrower.
A dissapointing experience.
John Chapewa likes this.
Aug 5, 2018
Some borrowers are great with updates; others you rarely hear from. If you check the updates or their discussions from previous loans, you can usually tell which is going to be which. We each lend for different reasons. If you check profiles of lenders, you can sometimes tell. If you're interested in watching your money make a difference, choose borrowers that consistently post updates.
Please keep trying. My loans are small, but I know that they do make a difference.
Fitri Fauziyah, Gabriel Fenili, dave2319, Joost and Catherine like this.
Aug 26, 2018
They're not here to give you emotional support TC. Borrowers have a business to run and not all of them can afford frequent internet access. Further, we're not buying their time, we're investing in their success.
Karijn, Jan de Wit and Catherine like this.
Sep 21, 2018
wow, if there is one matter-of-fact, completely accurate, response that I have seen, it is this one!
TC, I too get disappointed when I don't get any response from borrowers. But Liz is absolutely on the mark about it. I would even add further to say that maybe they didn't even read your comments!! But I can assure you that overall, you will find the experience of being a lender here very rewarding. Do read Dave's comments below.
Aug 5, 2018
Thomas, I've seen the borrower you're talking about and I notice they didn't have any repayment history at the time. I would recommend choosing borrowers with at least a 90% on-time repayment score and a figure of at least 10 in brackets, which indicates the number of expected payment dates that have been reached before their loans have been repaid. This means they've been proven over a longer period of time.
In the Browse Projects area the default setting is for them to be sorted by best repayment rate, and I think it's a good setting to keep it on.
Seeing all your loans you've made so far, I would also recommend not lending to borrowers with blurry profile photos.
Aug 8, 2018
I prefer to help someone who is starting with something.
It's like in the job market, companies ask for people with expirience, but if you just out of school, how can you have expirience? a catch 22 situation.
I re-loaned the money, and one has a good trackrecord, the other is just one dollar, a new borrower with blurry photo )))
Wait and see.
Gabriel Fenili likes this.
Aug 8, 2018
Well, it depends what you're looking for with lending. If it's not important whether you receive the money back or not, and you regard it as a bonus if you do, by all means give it to people who have very little or no repayment history. But, if getting your money back is important to you, it's not a good tactic to lend to those people, because borrowers with small credit limits (and therefore very likely to have less in the way of repayment history) have the highest default rates.
Aug 6, 2018
When you say you "sort of got the $10 back", I saw you chose to receive an advance repayment from the Members Loan Fund because the borrower hasn't made any payments yet.
Regarding sorting loans by best repayment rate, the downside can be the requested amount is likely to be higher and therefore the loan duration longer, but in terms of getting your money back I'd much prefer to tie it up for longer with someone who's likely to be a lot more trustworthy, so that's why I now look for borrowers who meet that above criteria.
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