Curious. I'm waiting on eight from AMK.
AMK is done for the day. They'll need to raise or wire us more moolah before additional settlements will come through.
To help clarify why we most credits come in on the 15th of the month, I'll give a bit more detail on the process.
First, we don't actually guarantee the credits will come in on the 15th. It happens this way because of our billing schedule.
The 15th is when we bill our partners for repayments in the previous month. Once we bill for a repayment, the repayment is eligible for what we internally call "settlement." Thus, the 15th is when a months worth of credits become eligible to be returned to lenders. However, we don't actually return the credit until the field partner gets the money to Kiva.
As a month progresses, our partners are raising funds on the site and building up their balance with us. So, when the 15th hits, most partners have a substantial balance with which to settle their newly billed repayments immediately. Some partners don't have quite enough, and need to continue raising funds throughout the month to settle their outstanding repayments. In other cases, the partners will need to actually wire us funds before their account balance becomes high enough to settle their repayments. The have until the end of the month to get us the cash one way or another before we begin considering repayments delinquent.
This morning, AMK had enough in their account to settle out about half of their outstanding repayments. They do pretty high volume on the site, and will likely continue to settle as the month continues.
To wrap up, the fact that most settlements occur on the 15th is really a side effect of our billing cycle, not a hard and fast rule or promise as to when money is returned. Here's some data from February that shows how the settlements continue to trickle in after the spike on the 15th:
| settled | day |
-------------------------------
| 2893283.18 | 2009-02-15|
| 20755.74 | 2009-02-16 |
| 18849.19 | 2009-02-17 |
| 120253.52 | 2009-02-18 |
| 114268.92 | 2009-02-19 |
| 25907.41 | 2009-02-20 |
| 175937.89 | 2009-02-21 |
| 10632.76 | 2009-02-22 |
| 10678.58 | 2009-02-23 |
| 47596.88 | 2009-02-24 |
| 31927.48 | 2009-02-25 |
Hope that's helpful,
-Jonathan
ps - we settle repayments in chronological order: oldest repayments first. For example, a loan with a borrower repayment due to AMK on June 2nd will settle before one due June 23rd.
