He’s already played softball in Las Vegas, parachuted out of a plane with his sister, and flown a glider, but Kiva lender Peter is excited to check one particular item off his bucket list:
The 38 year-old school admissions officer has set a goal of funding an astounding 1,000 loans through Kiva—and at 991 and counting, he’s going to hit his target within the next month.
“I know it’s going to happen very soon,” says Peter over a lively Zoom chat from his home in the U.K. “I like to make sure things are achievable.”
Growing up in Chichester, on the South Coast of England, he began his inventory of “must dos” as a teenager and has been adding to it ever since, finding satisfaction in both crossing things out and thinking of new ones.
“Having a bucket list gives life meaning,” he explains. “Especially when it helps make a difference in the lives of others.”
‘I can see the actual benefit’
Peter joined Kiva in 2019 after a close friend shared on their Facebook page the way Kiva works, by lending and relending the same amount of money to new borrowers. Inspired by his experience of sponsoring a child in Uganda (where he visited with his younger sister, Joy, in 2010—another item checked off the bucket list!), he saw how effective it could be to directly support an individual.
“I liked the fact that you’re able to help multiple people with the money that is being loaned, and it feels like you can help more people in the long run than just a standard donation,” he muses.
“I can see the actual benefit of how the loan is going to help them build up their own finances and get to a point where they no longer feel they need help.”
By automatically posting US$50 a month to his Kiva account, he has deposited a total of US$5,550, which through the relending process has resulted in over US$25,000 in loans.
While other people might scroll through news headlines or their social media accounts when they can’t sleep, Peter checks his Kiva dashboard several times a week to see what repayments have come in and how many more new loans he can add towards his goal.
“I can see the actual benefit of how the loan is going to help them build up their own finances and get to a point where they no longer feel they need help.”
“One of the things that excites me about it, is that by lending $25 per person, I can continue to split what I have across different people,” he says, adding that he tends to favor loans that are ending soon and need only a small infusion to “push them over the finish line”. He also looks for loans that are repaid monthly, in smaller amounts rather than one lump sum.
“This allows me to loan out that money again sooner, and it also feels like there is less risk of loss on a shorter-term loan.”
While there is always risk of not being repaid, Peter looks to Kiva’s low default and high repayment rates as security that his contributions are protected. In a novel perspective, he also sees how the money serves as sort of a savings vehicle for himself.
“It’s not only helping people, but I can get the money back if I was struggling or lost my job or something big happened,” he points out.
“If I was donating money to a charity, it only helps one time and is gone.”
‘Looking out for the illustrious seven’
Peter confesses he doesn’t delve into the full background behind every loan he funds, though borrowers who are setting up or expanding a business tend to catch his eye.
“Sometimes a story will grab you, and I lean towards where I feel there is potentially more benefit,” he says. “If someone is wanting to get another vehicle to expand their taxi service, I can see how this will benefit them versus some of the other loans. I like the idea that the ones I’m loaning to might not need another loan.”
He also surveys loans by activities such as growing food or raising cattle, checking for new ones in each category every month. He’s lent to 157 of 163 activities listed on Kiva thus far, and is looking to complete all of them.
However, his favorite “Bingo card” approach to achieving the 1000-loan mark is to lend by country: Of the 76 countries where Kiva lends through its trusted Field Partners, Peter has checked 69 off the list.
“I keep looking out for that illustrious seven,” he laughs about his eagle-eyed hunt for loans in Belize, Bhutan, Chile, Guam, Lao PDR, South Sudan, and Zimbabwe.
‘I enjoy reaching targets’
Peter regularly updates his list of personal goals he’d like to achieve, reflecting his zest for life: Visiting Iceland to see the Northern Lights, finishing Route 66 in a convertible Mustang, and running a marathon (well, maybe he’ll start with just a half).
As he approaches his goal of funding 1,000 loans, however, Peter has no plans to kick lending on Kiva off his bucket list.
“I’ll just have to set a new goal, maybe five thousand this time,” he affirms.
“I quite enjoy reaching targets and setting new ones.”
What kinds of loans are on your bucket list to lend to?
Explore our categories of Kiva loans today.
