Kiva Entrepreneur Makes First Repayment
A few weeks ago I joined Kiva and loaned $25 to a micro-entrepreneur in Togo (west coast of Africa) so she could build up her shop's inventory of rice sacks and cooking oil. She was asking for a total loan of $1800. A bunch of us Kiva-ites got together and loaned her the money.
Last night I got a letter from Kiva informing me that Toclaire made her first repayment of $85. The money will be split among all her lenders and when she makes her final payment the funds will be disbursed back to our Kiva accounts. We can then either reinvest or withdraw the money.
Way to go, Toclaire.
If you haven't already done so, go look at Kiva. If you like what you see, make a small loan to some small businessperson of your choice in one of the poorest countries of the world. Being able to borrow funds for their business without paying crippling interest rates (often up to 20% per month from the village moneylender), can make the difference between sinking into worse poverty and rising to a mild affluence - maybe even a roof that doesn't leak.
And let me know how you do - I'll add you to the Pondering Pig Social Investment Group and track your progress.
Last night I got a letter from Kiva informing me that Toclaire made her first repayment of $85. The money will be split among all her lenders and when she makes her final payment the funds will be disbursed back to our Kiva accounts. We can then either reinvest or withdraw the money.
Way to go, Toclaire.
If you haven't already done so, go look at Kiva. If you like what you see, make a small loan to some small businessperson of your choice in one of the poorest countries of the world. Being able to borrow funds for their business without paying crippling interest rates (often up to 20% per month from the village moneylender), can make the difference between sinking into worse poverty and rising to a mild affluence - maybe even a roof that doesn't leak.
And let me know how you do - I'll add you to the Pondering Pig Social Investment Group and track your progress.
Labels: Kiva Investment Group
posted by Christopher Newton at 8:15 AM
5 Comments:
My folks, Nelly Waruguru and Peter Kariuki, both from Kenya, have received their loans for milk cows. I look forward to their success.
Off and running...
moo.
Mazel Tov my friends!
You make a difference!
My sister-in-law cried happily at Christmas, as she opened a card about a World Vision gift to a village in her name...
We joined Kiva, and are loaning to two women in different parts of Mexico...ole!
One of my loan recipients has also began to repay. Makes me feel good to know her business has been successful enough to provide for this.
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