Forum > Open Forum > Call for Restructuring of Zidisha Framework
From the statistics, zidisha has done quite well over the few years it has been in operation but the borrowers seem to have escallated in ranks to a higher level that requires larger amounts. Of course, as a human nature everyone will want to have maximum of everything except pain. In this case, having most borrowers in level 5 of the loan hierachy attracts at least a $500 loan proposal that need to be funded within 14 days.
From the statistics, zidisha has so far transacted approximately 13million dollars with a pool of 25,000 lenders. This translates to a contribution of about $500 per lender.
Currently i see about 700 projects awaiting funding. From my quick calculations i see the average for the 700 projects is about $500 per project. This means the lenders need $350,000 at this point to fund the projects fully assuming none goes to expiry.
From my previous loan of $362. The individual lenders were 136, giving me a quick calculation of approx 2.5 to $3 per lender. With this rate of funding where by demand is rising but funding seem to be constant, Zidisha has to face more expiries than full funding in time.
What if zidisha establishes a cosolidated kit whereby, a lender commits to fund the kit with a certain amount of money at a given period of time and he is saved from going through the 700 projects looking for what to fund and what not to. Having the kit will simplify the lending process as a lender may be willing to give but has limited time in going through projects giving $3 to the one that pleases him or her. Then zidisha will have a panel and central office to scrutinize projects and find which one to fund and which one does not qualify. A philantrophist such as rockafella can decide to grant zidisha a cheque of 1m dollar. Corporates like cocacola may decide to come on board with a cheque on a collaborative projects to fund small businesses.
The pannel will be able to decide which one to fund and which one is not.
The kit will also accomodate corporates and philantrophists who are able to fund even all projects at a go but have no time to study and realize how zidisha operates inorder to fund projects individually in small amounts distributed accross the projectd.
This will also cut the web traffic by half. The frequent downtimes, platform errors,i guess is caused by massive traffic from both lenders and borrowers.
Having this kind of framework, zidisha will be able to even acknowledge and award the best on both sides,to encourage clean books from borrowers and more lending from lenders. Questions like "i am a lender and id want to lend more to this particular project" will not arise as the more a lender is willing to give, the more the projects will be funded with ease.
Thats my own opinion tho.
I am curious now. I know of five large lenders on the site, but I think most lenders are just "regular folk" looking to make a difference, however small. There are students, college professors, a fast food worker, families, homeschool groups, businessmen, and homemakers. I'm sure Julia is working on recruiting more large donors, but these days most corporations are already being inundated by requests. December was a tight month due to holidays and January is typically spent paying off those bills, so I understand why it might be frustrating to watch loans go unfunded. Hopefully it will get better in February.
Part of the beauty of Zidisha compared to other organizations is the interaction between lender and borrower. If that is removed in favor of automatic-lending or panel-chosen loans, it kills one of the most wonderful parts of the organization; that of the exchange of ideas, information, and social contact between the two.
Just my humble .02
(Below is just my thoughts as a lender)
I don’t like the idea of a kit. I carefully select the people who are going to get a loan from me. I don’t want this process to be changed. It’s the borrowers job to make a good loan proposal and to do his/her best to keep a good track record.
Besides that I like to learn something about the culture and life of people in your countries. So I like if a borrower writes comments about what he/she was able to do with their loan and how it changes his/her daily life. The following comments are good examples. www.zidisha.org/project-upd...
The contact with the borrowers and the ability to choose the loan requests is the reason why I decided to join Zidisha in the first place. I hope that I, as a lender, am able to improve the life of a borrowers so he/she is able to pay it forward and improve the life of someone else.
And I hope this way all borrowers and lenders together are able to make the world a better place one step at a time.
If I look at the projects page then I first look at the profile picture. If there is a nice one then I look at the title. What does this borrower want? A good profile picture is one with the borrowers business on the background. So it’s immediately clear what for type of loan request this will be,
If I see an attractive project then I click on that project and read the loan request. I want to know the following things. What is the borrower going to do with the money, and how is he/she able to repay it. Then I look at the repayment score and I check the comments page to see if the borrower is posting comments and photos about what he/she was able to do with the previous loans. If I am satisfied then I fund that loan partially.
Ps. If you want to improve your own profile then please check the tips on this page. www.zidisha.org/feature-cri...
That's great Joost ,however, I was thinking is it possible to stop the invite new borrowers? Because new invitees haven't learnt much and a small discouragement really breaks their hearts especially if they pay an MLF then the loan expires.My opinion would be,we pause to invite new applicants and deal with those who are in first as the organization replenishes the accounts. Just a thought.
Julia posted a new topic in the announcement section.
This is motivating us borrowers.
I will ever post comments on my current loan. Well said from your heart.Thank you
I feel that zidisha implementation is good and good now, but zidisha definitely do socialization in lender country, so people there interest to join zidisha to become creditor, with more creditors so loan application can be easily financed , and zidisha must apply zidisha member registration in tighten, to avoid cheating so that the lenders become safe and comfortable. here it is clear that, Zidisha no office and no employee in the countries of the borrower, zidisha assisted by volunteer staff online in this link, need to be read and studied carefully. www.google.com/url?sa=t&sou... there is already explained that the requirement to become a member of zidisha must, Have regular Internet access, to fill the borrower"s history and application forms on Zidisha"s website. and why the borrower"s condition should have internet access regularly, it is to communicate with the funders in Zidisha, I think that"s enough.
Translated by Google
Yang saya rasakan, implementasi zidisha saat ini bagus dan bagus, hanya saja, zidisha pasti banyak melakukan sosialisasi di negara pemberi pinjaman, sehingga orang di sana minat untuk bergabung dengan zidisha untuk menjadi kreditor,dengan bertambah banyak kreditur maka pengajuan pinjaman bisa di danai dengan mudah , dan zidisha harus menerapkan pendaftaran anggota zidisha di perketat ,untuk menghindari kecurangan supaya pihak lenders menjadi aman dan nyaman . di sini sudah di jelaskan bahwa,
Zidisha tidak ada kantor dan tidak ada pegawai di negara-negara para peminjam ,zidisha di bantu oleh volunteer staff secara online
di tautan ini,perlu di baca dan pelajari secara teliti .
di sana sudah di jelaskan bahwa syarat untuk menjadi anggota zidisha harus ,Memiliki akses Internet secara teratur, untuk mengisi riwayat peminjam dan formulir aplikasi pada website Zidisha. dan kenapa syarat peminjam harus Memiliki akses internet secara teratur, itu untuk berkomunikasi dengan para pendana di Zidisha,
saya rasa itu sudah cukup.
The idea of zidisha not having a head office is not going down well with me. There are critical administrative functions and decisions that need to be made especialy on any insitution handling funds. Volunteers may not do the job as fully committed since after all its a volunteer. Right now i just know one volunteer ;Dave and may be you, Su Rono(not sure), where are the others? Projects pends approval for several days yet no compesation on days spent on queue awaiting approval. Sometimes pend approval but no communication on why only when a borrower asks on forum is when its then communicated that may be ID was not to standard, This comes after 6 days from posting. I think This could be done easily by a team of staff stationed somewhere. You mentioned about zidisha liaisoning with lenders across the globe, well but who is doing so apart from Julia if all others are just volunteers? Corporate desk and Public relations desk i think cant be established on volunteer bases.
I agree that as more borrowers are able to request larger loans it's important to make sure there's enough lending funds available.
One thing that already exists is the option for lenders to have their funds lent automatically when they get repaid, which saves them the time of having to look through the available projects.
I agree that paying all members of staff, instead of having volunteers, would probably result in much quicker response times, certainly if we could employ as many people as needed. The big downside, however, is it would significantly increase the cost to borrowers.
Apart from the one-off registration fee, the charge is only 5% per loan, but this is only possible because there's just 2 paid members of staff (Julia and the one other person on the Technical Team) and the rest are volunteers, and there's no physical office. If these things weren't the case it would probably be more like a 35% fee, like other microfinance organisations.
Sorry about the issues, but we're always working to improve these things. Unfortunately with the current number of volunteers it takes a bit of time.
How does zidisha currently accomodate grants from corporates and philantrophists? How does zidisha motivate lenders and borrowers to give more and pay intime respectively.
I believe and believe zidisha will give the best for the people in the world. I believe the zidisha staff are skilled and competent in this regard. My hope zidisha gives the best to help the People in the World.
Saya percaya dan yakin zidisha akan memberikan yang terbaik untuk masyarakat di dunia.
Saya percaya staf zidisha mempunyai ahli dan berkompeten dalam hal ini.
Harapan saya zidisha memberikan yang terbaik untuk membantu Masyarakat di Dunia.
I do agree with u.Dave,l have submitted my loan application again. I hope u will active it for me.Thank you .
Am from Kenya and am not a happy lot.Have been servicing my loan without delay on the payment day.but to my surprise,am always told I have a balance to clear of which I don't know where it comes from.can someone help me understand this? am overcharged to be precise!!
I saw that your third and your fourth loan active at the same time. On last October and early November few account got a bug that made the system detected some of them as fully repaid loan when in reality it wasn't or if it was fully repaid loan, the payment unrecorded.
I suggest you to try check all of your third loan payment history. If there are payment that hasn't credited to your account, please make a ticket and report it to zidisha. I have 3 assigned members whose having the same problem as yours.
zidisha is working well according to me and lenders select polite borrowers my advice to the borrowers is be polite use polite comments this will create good understanding between you and zidisha and lenders remember the lenders trust zidisha and by this loans are offered due to how comments by using politeness I believe and believe zidisha will give the best for the people in the world. I believe the zidisha staff are skilled and competent in this regard. to my hope zidisha gives the best to help the People in the World and the best micro lending company in world.
Join us at
© 2009 - 2018 Zidisha, Inc. • Zidisha is a 501(c)(3) nonprofit • Terms and Privacy • Contact