Frequently Asked Questions
Q. Is the money loaned directly to you?
Nicole: No. I do not make a profit from a loan nor do I handle any monies from a loan. Kiva helps to connect you to an entrepreneur so that you can help. Lenders like you browse profiles of entrepreneurs in need, and your money goes directly to an entrepreneur but counts as part of the BC Team. When you join the Kiva BC Dream Builders Team, you become apart of a community of lenders but you use the kiva account when you sign up to lend to an entrepreneur of your choice. When the entrepreneur repays the loan, it goes directly back to your Kiva account. Click HERE to visit this page and you will get an idea of what a lending team looks like.
How Kiva helps you to help an entrepreneur:
When the loan needs of each entrepreneur you have sponsored are met, you will receive an email containing the exact date the loan term is beginning. This may take a while after your individual loan transaction was made, as we may need to wait for other lenders to contribute before the total requested loan funding is raised. Generally speaking, loans begin at the beginning of each month.
During the Loan Term:
Throughout the course of the loan term, you will receive repayments from your sponsored business which you can retrieve, re-lend or donate.If, when you created your Kiva profile, you opted to receive updates about Kiva entrepreneurs, you may also receive periodic emails informing you on how things are going with your loan(s). Or, if you opted not to receive updates about Kiva entrepreneurs, you can always read the online journal for your business.
If you change your mind about your current preferences, you may update your profile at any time on the Kiva website. We encourage you to post your own comments in response to the journal updates posted, as the partner representatives will be able to read and respond to these comments.
At the end of the Loan Term:
At the end of the loan term, you will receive a final email update with a summary of your sponsored business's overall performance and success in completing the loan repayment, as well as a complete list of options for you to retrieve, re-lend, or donate any repaid loan monies.
Q. Is it safe to lend money online?
Nicole: I have been doing transactions online and I have never had my financial information jeopardized. Many individuals from all around the world use a reputable company like Paypal - a global leader in online transactions.
Q. Why did you decide to create Kiva BC Dream Builders?
Nicole: I have always had a passion to add significant value to the lives of others and when I saw how a small loan of $25 made a difference, I wanted to get others onboard so I decided to start with my community. I wanted to work together with my community to make a bigger impact.
Q. Are you affiliated with Kiva or the entreprenuers?
Nicole: No. I have no affiliation with Kiva and I do not personally know any of the entrepreneurs. Kiva qualifies each entrepreneur and they work with reputable microloan institutions on the ground in each community to disperse and collect money.
Q. I want to help but I don't want to join the team online. How can I get my money to you?
Nicole: The great thing about a team is that you can lend on your own but it counts towards making an impact as a team. If you really want to help, please take the time to do your own research so that you can feel safe knowing that your information is proctected online.
Q. How did you make your first loan?
Nicole: I joined as a member at the Kiva.org site. Next, I searched for an entrepreneur to loan my money to. It only took a short while before I decided to loan to the Sykymoou woman's group. Once I decided to make my loan of $25, I followed the directions to lend my money using my paypal account. My money was paid in full within a short time directly back to my Kiva account. I now have the choice to withdraw my money or relend it to another entrepreneur in need.
More questions for Nicole? send your emails to: nicole@kivabcdreambuilders.com
