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Monday, February 4, 2013

A Record Month, A Default, and An Additional Meeting

  • Additional meeting on February 18 at 12:00 PM
    An increase in end of year donations has prompted the team members to schedule an additional meeting to invest these donations. In March, we will go back to our every other month meetings on the third Thursday of the month.
  • January, 2013: A Record Month
    The totals for January are three new members, 54 microloans worth $1,350. This marks the first time we have ever exceeded 50 loans in a month. These totals include six loans made by the middle school youth group and seven loans made by the Pioneers, Wellshire's fellowship and service group for parents of teens/empty nesters/adults 40+.. In addition, we had multiple loans made by some of our team members, and lots of individual loans as well. We are grateful for everyone who participated. Since we started, WMF team members have made 367 loans worth $9,600. These totals demonstrate the ongoing commitment of our team members.
  • A Default
    Kiva notified us this month that an agricultural loan we made in Rwanda went into default. The borrower had already paid back $22.78 of our share of the loan, so we only lost $2.22. This is just the second default we've had on 367 loans in over a year. Our payback rate is still at 99%.

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