Sunday, November 22, 2015
kiva: the gift that keeps giving
This young woman in Paraguay isn't one that my loans have helped, or are helping. But she sent this video to Kiva to remind the 1.3 million of us at KIVA that we are making a difference in lives around the world, twenty-five dollars at a time.
You heard me right.
Just $25 to be a hero to someone making a difference, not only in their lives, but in the lives of all around them.
You don't even have to join The Nerdfighters in our goal to "decrease world suck", but you would certainly be welcome in our group.
(smile)
I've been a member since July of 2012. Since that time, I have made $25 loans seven times. As a loan is repaid, I reinvest those recovered funds into someone else's dream of a better life.
Currently, I have three loans outstanding, in Ecuador, the Philippines, and Costa Rica.
Curious about the trustworthiness of the loan recipients?
Here are the latest reports.
Funded on Apr 16, 2014
Jesus De Nazaret Group
Ecuador | Perfumes
You Loaned: $25.00
Newly Repaid: $1.58
Total Repaid So Far: $23.26 (93.04% of your loan)
Repayment Status: Paying back on time
Funded on Jun 9, 2014
Elaine Marie
Philippines | Higher education costs
You Loaned: $25.00
Newly Repaid: $0.56
Total Repaid So Far: $2.72 (10.88% of your loan)
Repayment Status: Paying back on time
The Banco Mujer Los Girasoles Group, in Costa Rica, will begin repayments in February.
By that time, the folks in Ecuador will be paid up and I'll have $25 to fund another loan.
Marvelous!
Subscribe to:
Post Comments (Atom)
2 comments:
As of this morning, Elaine Marie - the former student - ha completely repaid the loan I made to her!
I am so proud of her!
https://www.kiva.org/lend/716332?utm_source=transactional&utm_medium=email&utm_campaign=repayment_email_2017
The first two loans on this page were repaid years ago.
That's right: YEARS ago.
However, the one that went to Paraguay, to Banco Mujer Los Girasoles Group is still languishing, only partly repaid, SIX YEARS after the loan was given to them by me and other Kiva supporters.
Today, I learned that the remaining balance will never be repaid.
Here's what Kiva sent to me.
"We're writing to let you know that your Kiva loan to Banco Mujer Los Girasoles Group, facilitated by Fundación Mujer , has ended in default , for the following reason:
Fundación Mujer's final loans with Kiva have been defaulted, and this partnership is now closed. For the last 5 years, Kiva has been working with Fundación Mujer to try to recover the remaining outstanding amounts due to Kiva lenders. Kiva and Fundación Mujer agreed upon a payment plan in June 2016, but Kiva only received $84,561 of a total of $189,446 of payment commitments made in this plan. Kiva’s present assessment is that this Field Partner is unable to make further payments, and thus the remaining $104,885 in outstanding amounts due to Kiva lenders has been defaulted. Fundación Mujer continues to manage grant-funded programs, but no longer operates a microlending program. This means that they are not generating any revenue that could be used to repay Kiva. If Kiva is able to recover any additional funds from Fundación Mujer, they will be applied to lenders' accounts on a pro-rata basis. .
With Kiva loans it's common to work to accommodate repayment when loans fall behind schedule, however sometimes, despite efforts to be flexible, loans do end in default. Kiva loans are defaulted at the point in time where it’s deemed that future repayment is unlikely, or when the loan is more than 180 days past due.
To date, $7.48 has been repaid to you, and the remainder of your loan can be considered a loss.
Thank you for your support of this loan, and other borrowers on Kiva.
Best wishes,
The Kiva Team"
Post a Comment