Journal entries that make an impact

[Guest]

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[charity]

Those updates from Aness are very nice, thank you guys for sharing!

[Amy-in-PHX]

The quote below is part of a post made on the Fans of EDAPROSPO message board, by new lending team captain Eduarda (who is the Kiva fellow currently working with the MFI).  She supplied a link to a blog entry that explains what "facilitation of savings" means for EDAPROSPO clients.  It works differently than I had realized (neither a bank nor EDAPROSPO itself holds the members' savings). 

Eduarda has been asked by EDAPROSPO management to establish communication between the MFI and lenders, so if you want to know more about the effect of expiries on an MFI, or ask questions about other subjects from the MFI perspective, please join the Fans of EDAPROSPO team to have access to Eduarda's posts on the message board.  The team is found here:  http://www.kiva.org/team/team_edaprospo .  The link to the blog post that explains the savings method is in this quote:

You will see that most of them [Edaprospo's loans] are group loans since Edaprospo dedicates to lending to the poorest through the "alcancias comunales". I will introduce you to some of these group loans in the next few weeks, but for now I suggest you to have a look to a great post by Sarah, a previous Fellow in Edaprospo, that explains how the system works:
fellowsblog.kiva.org/2010/12/12/demystified-communal-banking-groups-in-peru/

[Diane R]

Another update today directly from Aness in Zambia:

Am just hambled to you my leanders that you take your precious time and watch the video of me and my baby am want to open another one by the market.

Its just that i want to do something for my community like payin back for there support i wil send the photo of my community soon.

Thankx for jacobson family and Linda for you interest in my baby i promise you i will rise her to be a fighter i have nickname her kive may God bless you all waitin to hear from you soon love you all family!Anes

This messages was sent from Aness via SMS from Chirundu on 13-August-2012

--Diane.

[Amy-in-PHX]

Kiva Fellow's post about the BRAC organization, and BRAC Uganda in particular:
http://www.kiva.org/updates/fellows/2012/08/28/the-largest-development-organization-in-the-world-and-you-probably-havent-heard-of-it

[Amy-in-PHX]

From the Dominican Republic:
With a loan of 62,100 pesoso, the borrower is able to pay off a debt with an informal moneylender as well as buy bales of used clothing. Two years ago, she took out a loan from an informal moneylender to buy a taxi, and since then she has been unable to sleep well thinking about her debt.

She does well with the taxi, making enough to help her husband at home. The problem is the monthly interest rate is over 25% [i.e., 300% per annum]  and oftentimes, they only have enough to pay the interest and they can't pay anything towards the principal. She feels like she has paid the money she borrowed three times over and she still owes more than half.
http://www.kiva.org/lend/488824

[Diane R]

I found this loan, listed in early November, interesting based on the work Bayarsaikhan does (not the use to which the loan would be put).  A journal update today brought me back to it.  I'm posting it here, although it's not the sort of "impact" we usually mention in this thread....

While Bayarsaikhan's loan is not for his work (it is to insulate and modernize the electricity in his home), the work he actually does is... pretty interesting indeed.  (And PS, his loan expires in 4 days, $1925 still needed as of this writing.)


http://www.kiva.org/lend/493388

"Bayarsaikhan has been working as a freestyle wrestling coach since he graduated from the professional university in 1992. From 2006-2012 he worked as the state coach for the Olympic participants of Mongolia. ... [H]e mentioned that his dream is to bring the Olympic gold medal in freestyle wrestling to Mongolia."

--Diane.

I was surprised to read this loan update today: the loan has been completely paid off after one month.

Mr. Bayarsaikhan has paid his loan prior to established schedule as he has taken back his lent money from his borrower.

I guess it means that he'd loaned $3600 to someone who paid it back this month.  It might not be wise to argue with a wrestling coach when he suggests you pay him back the money you owe him....  (And no, the loan description did not mention anything about him being owed enough money that his need for the loan would be negated.) 


 

--Diane.

[charity]

I wish I took the time recently to read more of the journal updates on borrowers!  I read one posted today, for Diana from Mexico, and was again thrilled to hear how much good Kiva loans can do, and how entreprenuerial and striving the borrowers are!
http://www.kiva.org/lend/468531

Diana feels comfortable working with VisionFund. She shared her experience as a VisionFund borrower: with her very first loan she was able to buy the machinery she needed to continue building the mills she sells. She bought a soldering iron and a polishing machine. These devices helped Diana to improve the mills' quality, clients' satisfaction and sales. "Up until now I haven't had any difficulty in the business. In fact, I'm thinking of opening another establishment to build more mills." Diana was able to repay this loan without inconvenience and just a month ago she took out another loan to get started with the new establishment which she has planned to open in the very same municipality. This determined woman wants to thank Kiva lenders and the institution for the support and because thanks to it her children will be able to have a better future and a better quality of life.

There might be some more people like you out there, please share this opportunity of helping others. Or, you could send back some encouraging words to Diana.

[Amy-in-PHX]

Investing in girls is paying off BIG in Uganda (thanks to BRAC!)

See:
http://www.kiva.org/updates/kiva/2013/01/30/investing-in-girls-is-paying-off-big-in-uganda-thanks-to-brac.html

[Amy-in-PHX]

Journal Update from Kenya for . . .'s Kiva Loan!

Mwambalazi, Kenya

Thanks for supporting . . .  and his grocery selling business which has been operational for the past 8 years. With the loan, . . .  purchased bundles of vegetables, potatoes, tomatoes and onions. Since he received the Kiva loan, . . . .'s income has increased by 50 percent. With the additional income he added stock of household goods for sale at his retail business.
Posted by Anita Mibey from Mwambalazi, Kenya, Sep 27, 2012

http://www.kiva.org/lend/320914

[Amy-in-PHX]

Some loans recently posted with specifics in them, about how the borrowers were impacted by their previous loans:

http://www.kiva.org/lend/532691
He experienced a "boom" in rice production by using the fertilizer he bought with his first loan, and he "built a house" with profits he earned from that harvest.
[From UOB in Rwanda]

http://www.kiva.org/lend/523343
She bought "a table, a closet, and a TV for the family" with profits she earned from using the prior two loans.
[From VisionFund Cambodia]

http://www.kiva.org/lend/533117
Her income at the time of the previous loan averaged 5,000 KES a month; now, at the time of her new loan application, it is 6,500 KES per month (a 30% increase, which I hope exceeds the rate of inflation in Kenya).
[From KADET in Kenya]