Mark Agwonah Fund -- discussion

[Guest]

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[Alaska Pack]

What a beautiful picture and an awesome choice, Oli. 
I clicked on the loan to add but alas, Jennifer was funded.

   Bernice

[wind5001]

It just seemed like an obvious choice to me...thanks for sharing that!

Also, Jane, I believe Henry is proud of himself. I have never known him as an unproud man (and I mean that in a good sense. Seriously!)...

I also wanted, after having checked with him, announce that it is our new, but already very thoughtfully established KF Paul (aka iampaul) who made that contribution. To me, a wonderful thing, since it shows that Mark's story and history still touches people, just as it touched those of us present in 2007. Thank you, Paul!

[Diane R]

I promised everyone a summary of how the Mark Agwonah fund has done since its inception, so here is that summary.

The Fund has made 121 loans so far.  1 loan is still Raising Funds, and 1 is Raised but not yet disbursed.  Of the remaining 119:
36 = Paying Back
26 = Fully Paid Back
49 = Ended with Loss
 8 = Refunded

$3,025 = Total Amount Lent (including re-lending)
$1,474 = Total Amount Repaid
$841.16 = Total Amount Lost
$49.48 = Current Kiva Credit in the portfolio

0% Delinquency Rate
44.86% Default Rate
0% Currency Exchange Loss Rate

Sadly, with so many defaults after the post-election violence in Kenya, and as a result of several MFIs there which did not succeed, the Fund has lost a significant amount of money.  BUT, the remaining funds are still circulating and still helping support more and more working individuals, and as a result their families and communities as well. 

Thank you all for your contributions and support, and thanks also to Charmaine and Alan who are now fully capable of lending for the portfolio (along with Oli and me) in Kenya to continue Mark's legacy well into the future.  Please continue to make loan suggestions and lend your support and care.  Thank you, everyone.


--Diane.

[Diane R]

The Mark Agwonah Fund received this update today on the loan made to Jacob Odungo Onam.

Jacob Odongo Onam deals in metal works. This he does in Kisumu, KENYA. As a first loan from K-MET by Kiva, he used it to purchase metal materials for his metal workshop and kept some as savings for a rainy day in the business. He says his business is doing well and his customer base has increased.

This he says has resulted in self reliance and better management of records for his business. He says the workshop held before reception of loan is very beneficial. He would like to expand his business in the near future. His main difficulties include loss of materials through theft and fluctuation of prices. He plans to move to a better location.

--Diane.

[reb-mar]

What a wonderful update.  Thank you for sharing!

Rebecca

[alan]

This one really caught me, because of her goals for her income:

Merab Atieno Okech


Merab Atieno Okech is 50 years old. She is married with six children and lives in Nyalenda, Kisumu, Kenya. Merab was a housewife depending fully on her husband’s meager earnings until 1990 when she began selling fish. She now also does tailoring. A determined and hardworking woman, Merab goes as far as Busia to purchase her tailoring materials on a weekly basis.

Merab would like to expand her business in order to earn enough income to open a community-based organization (CBO) to support widows, orphans and vulnerable children (OVCs) and also people living with HIV-AIDS (PLWHAS). She is requesting a loan of 20,000 KES to increase her material stock.

Still $75 left.

[cjp1973]

A great pick

[Alaska Pack]

Fabulous find, Alan!!! 
We would have liked to have been a part as well but Merab is funded.  Great for her!

So, we will share a part through the fund.
Bernice 

[Jan & John]

Some wonderful loans from Kenya posted right now...

I can't resist the milk producers... and now they are *insuring* cows.

(Nancy has been practicing mixed farming)


and Premal clicked "like" on this one on Facebook, but so far I haven't seen that he made the loan
(Joyce sells eggs and also rents out her residential houses)


-jan-

[cjp1973]

In going through the credits for Mark's fund I wanted to note here that on the 15th the defaulted loans in the portfolio from Action Now:Kenya all repaid between 10-15 cents.  While not large sums, I thought it was a development in a positive direction.
Charmaine