Monday, December 07, 2009

AASFSHNR Reaches US$1.25m for Kiva

On October 8th, I reported the good news that our Kiva AASFSHNR Lending Team had been the first team to pass US$1m in loans.  It took us about 13.5 months to make it to the US$1m mark and it has taken us less than 2 months to make it to the current mark of just over US$1.25m.

We're currently discussing a goal for the end of 2010 to be around the US$2.5 to US$3m mark and at the rate we've reached US$1.25m in loans, that should be easily achievable and hopefully easily surpassed.

Kiva has a total loaned amount of just over US$106m to microfinance borrowers witha  current repayment rate ov over 98%, which is awesome.  I wonder how many other finance institutions can claim repayment rates of above 98%?  :)  And remember this is microfinance - we're funcing loans for people in need of loans that the regular finance system will not loan to - including (but not limited to) entrepeneurs in Afghanistan, Azerbaijan, Benin, Costa Rica, Ghana, Honduras, Lebanon, Mali, Mongolia, Nicaragua, Peru, Rwanda, Senegal, Sudan, Uganda, Vietnam and even the United States who are looking to improve their businesses and/or family homes.

If you'd like an invite to Kiva, let me know and I'll send one to you.


The Outspoken Wookie

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