Kiva.org - developing world microcredit - heard anything about it?

[Sibling Lambicus the Toluous]

I just recently found out about Kiva.org.  It's a third-world microcredit clearinghouse of sorts: it provides a service whereby individuals lend money to entrepreneurs in the developing world.

It's an intriguing idea, but I realize that there's a fair bit of potential for misuse in a system like this if it's not being run honestly.  Anyone heard anything about it?

Because you get your money back, loan money you put in doesn't count as a charitable contribution, but I've been thinking about putting something in anyhow just because I like the idea.

Opinions?  Thoughts?

[Alpaca]

Haven't heard about it, but checking out the site, it seems like a legitimate and, more importantly, worthy place. (By my standards of worth, of course. Personal opinion disclaimer, yadda yadda.) I like the idea that individuals can donate small amounts which get funneled through a bigger organization. Protects the individual's personal information, and allows anyone to lend within their means. Also, if it turns out that the Nigerian Ex-foreign-minister's second cousin who needs to unlock his funds somehow slipped by the pre-screening, there's a large, tech-savvy, lawyer-enabled, generally well-equipped organization to kick his ass.

[Aggie]

Kind of curious from both a humanitarian and an investor's perspective on how loan repayment is enforced - and these are not compatible perspectives, I suspect. 

From an investment perspective, this doesn't look like it provides a return on investment (usury ), nor should it from a humanitarian perspective.  I'm pretty interested in it as a way to make a measurable difference in someone's life without simply handing a donation to a strictly humanitarian organization (short term relief), while my investor's brain says that as long as this is secure (small chance of loss), it's not a bad way to park some cash over the short-to-medium term.  I am definitely an advocate of microenterprise.

If anyone participates in this... keep me posted!

[Sibling Lambicus the Toluous]

Also, if it turns out that the Nigerian Ex-foreign-minister's second cousin who needs to unlock his funds somehow slipped by the pre-screening, there's a large, tech-savvy, lawyer-enabled, generally well-equipped organization to kick his ass.

I don't think he'd have any need for microcredit now.  I don't want to brag, but I helped him out: I already cashed his "unlocked" cheque and sent his money order off to him (minus a rather generous fee to me, though! ).  Unless - and this is a real long-shot scenario - the bank released the money before the cheque actually cleared because of the huge length of time that it takes to clear a Nigerian cheque, and it bounces after he cashed my money order and disappeared, I'm golden!   

If anyone participates in this... keep me posted!

I'm planning to... I'll let you know.