Kenyans for Kenya on Zidisha?

Discussion in 'Open Forum' started by Shehi, Sep 7, 2014.

  1. Shehi

    Shehi Gold Member Volunteer Mentor

    Hi Guys,

    I was alerted by a friend of a loan that was funded to 100% ENTIRELY by 'Kenyan' lenders a while ago.

    Are we seeing a new trend that Kenyans can register as lenders to support their own OR is it just a matter of gaming the system to accellerate the credit limit rise only to leave the borrower with NO interaction history with ANY frequent lenders lonely on a $1,000+ loan application months later?
  2. questionmark

    questionmark Forum Member

    At zero % interest no less! I sure look forward to Kenyan lenders starting to support loans around the world :rolleyes:
    Are all the Kenyan lenders on this loan also borrowers on Zidisha? Because I was surprised to see that the biggest lender on this loan, is also a borrower with an outstanding loan
  3. Shehi

    Shehi Gold Member Volunteer Mentor

    I appeal to 'Kenyan' lenders to save some loan applications that have already filed TWICE with no success.

    I don't want to mention some likely discouraged borrowers.

    Your support will be much appreciated.
  4. Ahmedhussein

    Ahmedhussein Forum Member Zidisha Volunteer

    Dear Shehi,
    I wish you success in your business. Everyone can be a lender in Zidisha to support Kenyan clients.

    Best regards
    hassan mlala and Shehi like this.
  5. KirstenShute

    KirstenShute Gold Member

    Paul Kamande seems trustworthy; I don't know the other lenders. But I see no reason why borrowers can't become lenders as well, as long as they're not allowed to fund their own loan (that just seems absurd to me!)

    As for myself, I should admit I'm lender on Zidisha and a borrower elsewhere, since I'm still repaying my father money he lent me for education. It's a matter of balancing different obligations.
    Last edited: Oct 6, 2014
  6. Denise

    Denise Gold Member

    My suspicion is that it was done by the "invite" money, which means all the money was from that lender who loaned Zidisha money for giving incentive to invite new lenders.
  7. questionmark

    questionmark Forum Member

    ? what do you mean?
  8. questionmark

    questionmark Forum Member

    I'm also a bit surprised to see he is a VM with a quite bad on-time repayment track
  9. aeroplane

    aeroplane Forum Member

    I think she means the $25 credit for inviting people to the site.
    KirstenShute and Shehi like this.
  10. questionmark

    questionmark Forum Member

    yes I know about the invite money, but even if you get 25$ it does not make sense to then fund a loan for $296 (or part of it).
    It's really a strange (and bit shady) case, or I'm too stupid to understand it (like so much of what is going on on this platform :confused:)
  11. Denise

    Denise Gold Member

    Yes, that is what I meant. I think maybe some of them invited each other (you can make a lender account without making any loans) and then each of them got new lender credit, which they could use.
    This, mind you, is entirely speculation on my part. I know that one of them is actually using some of his own money, too.
  12. questionmark

    questionmark Forum Member

    ahh thanks! I forgot about lender invites and thought you were referring to borrowers invites
  13. KirstenShute

    KirstenShute Gold Member

    That's interesting. The credit for new invited lenders and the ones inviting them (as far as I know) is $25, but the money returns to Zidisha once repaid. So while lending might help a borrower in a "you scratch my back, I'll scratch yours" kind of way, they won't be able to re-lend the repayments made with that credit because it won't come back to their account. Eventually, if they want to keep lending, they'll need to use some of their own money.
    jairo wainaina likes this.
  14. Esther Kanini

    Esther Kanini Forum Member

    This is a good move
    jairo wainaina likes this.

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