9 out of 9 people (100%) think this is worth doing.
sierrak is ready for some Spring Weather!
Over the weekend, one of my loans to a woman in Azerbaijan was paid off, so I relent the money this morning to Guillermo Gallardo of El Alto, Bolivia. Mr. Gallardo is a taxi driver. He is going to use the loan to help pay for his daughter’s college tuition.
Glad to be of help for such a good cause!
The first one, to a group of ladies in Mexico, who run a convenience store.
The second, to a woman running her own textile shop in Uganda.
Another recycled loan this morning…
Number 38 went to Victoria Kini in Cape Coast, Ghana, who is running out of stock for her pub. It’s a new country for my loan list and I love her robust grin (it’s also appealing since I’ve recently taken great pleasure from having a cold one with good friends). Cheers to Victoria!
Victoria Kini sells clothing materials and shoes and also operates a drinking bar. She is married and has 3 children. She is running out of stock. She is asking to borrow $525 as additional capital to buy more drinks for sale.
5 more loans and I can check this goal off!
Librarian is celebrating a new year.
Two of my loans were recently paid off, so I’m reloaning that money to:
Gifty Aggrey of Ghana for her clothing business
Catalina’s Group of Peru for their various farming and market activities
sierrak is ready for some Spring Weather!
I had another loan paid back this week, so I was able to make a loan to Adamu Imma , who lives in Cape Coast, Ghana. Ms. Imma sells rice and beans. She is seeking a loan to purchase more inventory for resale.
This loan is still seeking more lenders, so take a look!
The re-paid loans are really rolling in this month! Roll in, roll out…
Loan #37 goes to Mari Barr in Ziguinchor, Senegal.
Mari Barr is 52 years old, married and the mother of 6 children. She is the president of an administration committee of a village bank Alwar CMT in Ziguinchor. She would like to purchase palm oil, lemons and netetou (traditional condiment) to sell. The profits she makes will help her have a larger hand in participating in the daily responsibilities of her family and the schooling of her children. She is asking for a loan that will be repaid at the end of six months in one single payment.
sierrak is ready for some Spring Weather!
Several loans which I made last summer have been paid back in the past few weeks!
Today I made a loan to Kimseang Chheng , who lives in a village near Phnomh Penh, Cambodia. For six years, Kimseang has earned her living by weaving silk cloth. She plans to use this loan to purchase more raw silk for her weaving.
Being a fan of handicrafts, I am always thrilled when I find a loan to someone engaged in this kind of activity!
This loan is still in the fundraising mode, I would be honored if any here on 43 Things care to join me in this loan.
Another recycled loan (#36, closer and closer) goes out, this one to Vidalina in Tarma, Peru, to acquire more seeds for flower cultivation and more animals for her animal husbandry business.
VIDALINA is an enterprising woman who is grows flowers inside her home, cares much for their growth and development, and, when these beautiful flowers sprout, sells them at fairs and to her friends. She is also involved in animal husbandry. Now that her son has decided to study in another city, her ability to work and her hopes for improvement have increased. For this reason, she is seeking a loan in order to acquire more seeds and animals to increase her income and contribute to the wishes of her beloved son.
This seemed like a really nice one for spring!
Adar feels like she must be living in a dream.
I’d like to introduce Chicas de la Raza
Esmeralda del Carmen sells catalog products such as shoes, clothing, quilts and other home items. She began her business five years ago with some of her friends and neighbors and now many people know her and ask her for her products. She is 30 years old, the mother of two and belongs to a group called Chicas de la Raza (Girls of Race) 1, along with Mrs. Candelaria (who sells typical Mexican food), Teresa de Jesus ( who runs a grocery store) and Francisca de Jesus (who runs a butcher shop). With their loans, they will invest in the growth of their businesses and in this way be able to contribute to the household economy.
The loan is being made through AL SOL, Alternativa Solidaria Chiapas. The Chicas will get a much better rate than they’d get through the local money lender—and they are still raising funds, if you want to join me!
Adar feels like she must be living in a dream.
A number of loans matured at once on my kiva.org portfolio, and I had the pleasure of doing some reloaning. I took the opportunity to explore the kiva.org site, and I learned a lot.
One of the things I learned is that while I make a “no interest” loan, the people I loan to do indeed pay interest. Depending on the lending partner, they may pay a very advantageous rate for their loan, or they may pay a rate only slightly lower than is available to them through other lenders. (As anyone who has paid off a loan knows, though, “slightly lower” is still a wonderful thing.)
I don’t have a problem with the lending partners making enough money to cover their expenses. However, from here on in, I’m going to choose to lend not only on the basis of the interesting stories and faces I see, but on the basis of my impressions of the lending partners as well, since they are (1) my agents in this good deed and (2) I want the entrepreneurs to get the greatest advantage possible from my gift.
How to check out a lending partner? First, click on an entrepreneur that interests you. Then scroll down, and on the lower right area of the screen, you will see “About the field partner.” Kiva.org rates the field partners with a star system; that seems to be a rating of their reliability in paying back loans. (If I’m misunderstanding this, someone correct me.) Then click on “More on this field partner” and a screen about the field partner will come up.
The item that interests me is 3/4 way down that page: the interest rate borrower pays compared to the interest rate charged by local money lenders. It seems to me that THIS is a measure of the real power of my loan—how much advantage I’m giving them over the local rate. The local rates are really eye-opening, too.
I’m not unhappy with kiva.org. I still think it is a good thing to look into the faces of the people I’m helping. I am just adding another set of faces to the mix: I am going to get to know my lending partners, as well.
