Kiva Lending Team: Late Loaning Lenders
We loan because...
We hate to see loans being left unfunded on
Kiva. Although most of these loans are
pre-funded by the Field Partners, the Field
Partners lose out on the capital if a loan
doesn't get funded on Kiva. We believe that
this will damage the Field Partners in the long
term and impair their capacity to make loans to new borrowers.
We can't save every red loan, but we try to
make a difference as in the Starfish Story:
Help us fund loans we're already supporting:
We invite you to join us and make a difference, too. Please check the team board at 2 am Kiva time, 7 am Kiva time, 1 pm Kiva time and 6 pm Kiva time to coordinate lending.
See our team fund page:
Alan's account of the founding of LLL is on the team board @Alan re: #260143. Loans that are nearing expiry won't get funded if they don't get noticed. We look for loans that are about to expire by using the Sort By:
"Expiring Soon" option instead of the default "Popularity", and then work to get them funded.
See our team FAQ, linked below (the "check out" link).
A Team LLL glossary (contributed by team member Tony):
Red Loans: Loans that have less than five days to be funded, identifiable by the red box
with the notice that says "Only x days left!" or
"Only x hours and y minutes left!"
LLL - Late Loaning Lenders: this team, where
lenders work together to keep loans from
SFDD - Starfish Daily Dozen: Under current
practice, one of these lists is prepared and
posted for each day, to help LLL lenders focus
and coordinate their lending on a targeted
group of loans (the Starfish or SF). The lists
are prepared by a group of volunteers who
seek to be objective in selecting the loans to
be included in their lists. They also seek to
spread out the loans in each list over a 24 hour
period and to share the joy among the Field
Partners with loans expiring during that period,
but their efforts are always constrained by the
choice of loans that are available for inclusion
in the list. Loans with larger amounts needed
will be included in the period immediately after
each Credit Day, when lenders are feeling
flush, but the lists will become less ambitious
when the LLL lenders are feeling poor.
GG - Gorgeous Group: The SFDD list-makers have the option of adding one or two of these
loans after their SFDD lists. As the name
implies, only group loans are picked. When it is
first posted, a typical GG loan will expire two
days or more after the list is posted. It will
usually be retained as a GG until it becomes
Fully Funded or moves into Starfish range. The amount needed when the loan is selected as a GG will vary depending on the time of month.
RTR - Reduce the Red: These lists are
prepared and posted when there are large
numbers of loans slated to expire in a short
period of time, typically at the end of a calen-
dar month. "Red" is a reference to the red
boxes that are added to a loan description
when the Loan is about to expire without full
Bulge: A short period in which a great many
loans have their scheduled funding expiration
times. Bulges come about primarily when a
Field Partner (FP) submits an amount of loans
to Kiva during a given month than is greater
than the FP's quota for that month. The loan
descriptions are prepared for posting by
translating the loan descriptions (if necessary)
and editing them, and they are then held to be posted at the beginning of the following month. Bulge loans are prize candidates for inclusion
in Reduce the Red lists.
FF - Fully Funded: This is LLL code for a loan
that has received all the loans required for it to be removed from the list of loans that are
fundraising and to move into repaying status.
Lars Ratio: the average funding per hour that is needed for a loan to become fully funded.
(Developed by team member Lars)
See a ratio list of current red loans: kivany.vijayr.net/expiring_loans.php
kivalive.com (older version)
Lists are posted on the LLL Team message
board. Join us!
Location: Anywhere Team website
99+ messages. Join the team to get in on the action!
Mohammad received a loan from Hansje to buy a new video camera and another one for photography pictures.$650 to goLend Now
$275 to goLend Now
$925 to goLend Now
Chuluuntsetseg received a loan from 2 team members to buy an electric car for personal use.$750 to goLend Now
$575 to goLend Now
$650 to goLend Now
Fredy received a loan from 2 team members to buy fixed assets (shelving and a cooler) and wholesale stock (dairy products, meat products, cleaning products, cookies, grains, pastas, oil, sugar, rice, and brown sugar among other basic products).0% repaid
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