ZIDISHA INC.
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June 18, 2013
I was pointed towards microfinance a few years ago as an alternative to charity donation - more sustainable, more interaction, not simply pouring pounds (I am British) down the drain. It was about the time of the shake up in microfinance and people were realising that sites like Kiva took a significant cut along the way.
I came across Zidisha in Jan 2012 via a websearch and it was very well reviewed. I find it very rewarding as it is very explicit about how it works and you decide exactly who you support - it's a direct line to the real people trying to make a living in developing countries. To be honest, I don't worry too much about whether I gain or loose money as I see it as a "leveraged" charity donation. I don't look for a significant return but there is a 2-3% default rate that I loosely try to offset and overall I think I'm up slightly.
This is a great organisation. I check it every now and again but I fully expect to donate through it in the medium to long term.
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Was your donation impactful?
Definitely
How likely is it that you would recommend that a friend donate to this group?
Definitely
How likely are you to donate to this group again?
Definitely
When was your last experience with this nonprofit?
2013
2 people found this review helpful
February 28, 2013
2 people found this review helpful
I love the concept of microfinance. I used to lend through Kiva until I discovered the middleman fees could end up costing borrowers interest rates up to 40% on money that I had loaned interest free!!
I searched for an alternative and stumbled upon Zidisha in October 2012. I love this organization. I know exactly where my dollars are going and how much interest is being charged (because I set the rate myself). Zidisha takes a very minimal amount in transaction fees (5%) and charges a flat rate of 12.41 new borrower registration fee to cover the costs of the credit check. Lenders and Borrowers are able to communicate directly with each other. I can't say enough good things about Zidisha. They truly support entrepreneurship in developing counties to build independence.
To date I have not had one borrower default on a loan repayment : )
More feedback...
Was your donation impactful?
Definitely
How likely is it that you would recommend that a friend donate to this group?
Definitely
How likely are you to donate to this group again?
Definitely
When was your last experience with this nonprofit?
2013
2 people found this review helpful
January 13, 2013
2 people found this review helpful
Zidisha is a microfinance organization that allows lenders to loan directly to borrowers at reasonable interest rates, plus a borrower transaction fee. The borrower sets the rate ceiling, not Zidisha or another third party organization or Microfinance Institution (MFI). Actually, a lender has the option of lending at a 0% interest rate, which is a big plus as is the ability of lenders and borrowers to interact directly with each other. The ability to control rates while lending, transparency of Zidisha (e.g. disclosure of rates & fees), and having no intermediaries are the three main factors that attracted me to Zidisha. I intend to keep lending here as long as the three main factors remain.
More feedback...
Was your donation impactful?
Likely
How likely is it that you would recommend that a friend donate to this group?
Definitely
How likely are you to donate to this group again?
Definitely
When was your last experience with this nonprofit?
2013
December 27, 2012
By allowing me to lend directly to recipients, Zidisha ensures there are very few costs involved. This makes the interest rates paid by the recipients low, while encouraging donors to set realistic rates. This isn't a charity so much as a method of sensible economic stimulation. I am happy to make a modest profit on my loans so that money can be lent out again and again. After more than a year, I have had no bad debt and am lending to about 30 recipients with amounts of about $10-20. Charity should be about all of us really, and Zidisha social lending is close to this ideal.
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Was your donation impactful?
Likely
How likely is it that you would recommend that a friend donate to this group?
Definitely
How likely are you to donate to this group again?
Definitely
When was your last experience with this nonprofit?
2012
November 21, 2012
Zidisha is the one nonprofit microfinance organization out there that is created to help poor business owners throughout Africa. Zidisha's main strengths our it's transparency which encourages the lowest interest rates possible and full communication with the borrowers themselves! It's a testament to the fact that technology will be able to connect us personally to the poor's business, and allow us to have profound impact on the daily lives of others from the comfort of our PC.
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Would you volunteer for this group again?
Definitely
For the time you spent, how much of an impact did you feel your work or activity had?
Life-changing
Did the organization use your time wisely?
Very Well
Would you recommend this group to a friend?
Definitely
When was your last experience with this nonprofit?
2012
1 person found this review helpful
November 5, 2012
1 person found this review helpful
Zidisha offers the unique opportunity to loan directly to African individuals who are seeking small loans in order to start new or expand existing businesses. In addition to the interest paid on money loaned, this peer to peer model also includes the bonus of personal communication. It is a unique life-changing experience for the borrower who receives they funds they need and the lender who gets to experience first hand the effects of the money they lend. I love this concept and look to be lending for many more years to come. Go Zidisha!
More feedback...
Will you volunteer or donate to this organization?
Definitely
How much of an impact do you think this organization has?
Life-changing
When was your last experience with this nonprofit?
2012
1 person found this review helpful
September 21, 2012
1 person found this review helpful
Zidisha is a peer to peer microloan service, funding loans to small business owners in countries like Kenya and Senegal. On their site, http://zidisha.org, you can view photos of prospective borrowers and brief descriptions of the amount and purpose of the loans requested. When you find one you like, you can see a detailed description of the business, the credit rating of the borrower, and the proposed rate of interest. You can then bid on all or part of the loan. Loans I have made range from $25 to $50 of an average $500 loan. So far, I have received monthly repayments on time, and have simply put the funds into new loans. I like Zidisha because it gives me a connection to the borrowers through email updates, and a feeling that I am making a tangible contribution.
More feedback...
Will you volunteer or donate to this organization?
Definitely
How much of an impact do you think this organization has?
A lot
When was your last experience with this nonprofit?
2012
1 person found this review helpful
September 10, 2012
1 person found this review helpful
Zidisha is amazing. I am completely addicted to helping people here -- and the best part is, it is a loan. So when the folks are successful with their business and pay you back (with interest) you an take the moneya nd loan to the next entrepreneur!
More feedback...
Was your donation impactful?
Definitely
How likely is it that you would recommend that a friend donate to this group?
Definitely
How likely are you to donate to this group again?
Definitely
When was your last experience with this nonprofit?
2012
What specific problem, purpose, priority, or project prompted your gift?
Helping other agricultural entrepreneurs -- being one myself, I feel very connected to other like me around the world.
Why did you make your donation at this time?
I just can't say no!
What would you tell others about this organization?
It is such an amazing way to make a difference -- a real hand-up not a hand-out.
1 person found this review helpful
August 12, 2012
1 person found this review helpful
The interest rates in many African countries are double digits and they really kills of the private sector. This initiate would be very helpful in the growth of the private sector. We just need to put the word out there because not so many people know about this. I be willing to promote the initiative as much as I can.
More feedback...
Would you volunteer for this group again?
Definitely
For the time you spent, how much of an impact did you feel your work or activity had?
A little
Did the organization use your time wisely?
Okay
Would you recommend this group to a friend?
Definitely
When was your last experience with this nonprofit?
2010
2 people found this review helpful
May 13, 2012
2 people found this review helpful
I find Zidisha to be easily accessible and I feel that it is reliable. All lender risks are clearly explained, allowing lenders to feel confident that they understand their commitment. Furthermore, I think the model is an important one: providing businesspeople in developing countries who need loans with low-interest loans is a tool that facilitates self-empowerment and promotes entrepreneurship.
More feedback...
Was your donation impactful?
Likely
How likely is it that you would recommend that a friend donate to this group?
Definitely
How likely are you to donate to this group again?
Definitely
When was your last experience with this nonprofit?
2012
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