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Wednesday, August 26, 2015

August 2015 Recap

Since June 16, 2015, the members of the Wellshire Microfinance team have made 124 loans. In June, we had made 1,492 loans with a total amount lent of $38,925. Today we sit at 1,616 loans and $42,450 lent. Wow! That's a lot of dollars going out and coming back in. Our percentages are pretty consistent: 57% women, 43% men. We have lent to 65 of 83 countries, with the highest percentage going to Kenya, Uganda, Philippines, El Salvador, and Peru.

Katy has taken over the management of the Club 45 account.

At our last meeting, we took note of the APR some of the field partners are charging the borrowers. We will continue to discuss if we want to lend through these field partners. They lend to some of the most vulnerable people on the planet and so their expenses are high. It's hard to ignore the need of the borrowers even though it pains us to see them paying such high interest rates.

Our next meeting will be noon on September 17 at Wellshire. Hope to see you there. As always, feel free to e-mail in your loan suggestions. Maybe we could try and find a loan or two to countries we haven't lent to before. I know it's hard, there often aren't any.

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