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Ariah from Trying to Follow writes about one of his Kiva loans defaulting with $12.60 due. He took time to track down what went wrong and explains it in his blog post.
The default rates on Kiva loans are extraordinarily low, considering that few – if any – of the people have any experience with credit in the past.
The loans I’ve issued are currently up to date. If you haven’t given Kiva a try, it’s worth lending $25 just to understand what Kiva is all about.
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Thanks for posting a link. Kiva does great work and any bank knows defaults are a part of the process, Kiva has a default rate most banks would die for (it’s so low).
Keep it up
[...] July 2008 I described a defaulted Kiva loan that was partially funded by a fellow Minneapolis [...]