- 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%.
Wellshire Church partners with KIVA, an international program committed to alleviating poverty and creating opportunity through interpersonal lending. Wellshire Microfinance is open to all, so please feel free to join and contribute! "... what does the Lord require of you but to do justice, and to love kindness, and to walk humbly with your God?" -- Micah 6:8
Monday, February 4, 2013
A Record Month, A Default, and An Additional Meeting
Thursday, January 3, 2013
Wellshire Microfinance/Kiva 2012 Year-End Report
The Kiva Statistics for 2012 show $380 million loaned to 940,000 borrowers in 66 countries. Kiva also maintained a 99% repayment rate and earned a Charity Navigator rating of four stars.
In December, Wellshire Microfinance invested in 20 microloans worth $500. We welcomed 3 new members to increase our membership to 44. Our grand totals are now 313 loans worth $8250 in 50 countries. We are grateful, as always, for Wellshire’s enthusiastic response.
In 2012 we also saw the participation of our youth on two occasions when Club 45 made multiple loans. In addition, the Wellshire Pioneers group began making loans. A women’s Bible study group used their funds to make loans also. When groups begin making multiple loans, our totals go up very quickly.
Finally, we would like to thank all those who donated money to Wellshire Microfinance, which the committee shares with Club 45 to invest in additional microloans. Donations are another way that people can participate in Wellshire Microfinance. For those who don’t like to work with computers, these donations are an important way to further the mission of Wellshire Microfinance.
We look forward to everyone’s continued participation in 2013.
In December, Wellshire Microfinance invested in 20 microloans worth $500. We welcomed 3 new members to increase our membership to 44. Our grand totals are now 313 loans worth $8250 in 50 countries. We are grateful, as always, for Wellshire’s enthusiastic response.
In 2012 we also saw the participation of our youth on two occasions when Club 45 made multiple loans. In addition, the Wellshire Pioneers group began making loans. A women’s Bible study group used their funds to make loans also. When groups begin making multiple loans, our totals go up very quickly.
Finally, we would like to thank all those who donated money to Wellshire Microfinance, which the committee shares with Club 45 to invest in additional microloans. Donations are another way that people can participate in Wellshire Microfinance. For those who don’t like to work with computers, these donations are an important way to further the mission of Wellshire Microfinance.
We look forward to everyone’s continued participation in 2013.
Monday, December 3, 2012
November 2012 Recap
- New Meeting Schedule
Because our loan volume has gone up, we are able to reinvest loan paybacks more often. As a result, the committee decided to meet every two months instead of every three months. Starting in January, we will hold our meetings on the third Thursday of the month at 12:00 noon at Wellshire Church. The meeting after that will be the third Thursday of March. As always, everyone is welcome to attend. - Results of our November Meeting
The committee made 11 microloans at our meeting. Ten of those loans were financed by loan paybacks. As our loan volume increases, we can make more loans with the loan paybacks at a faster rate. The beauty of this is we can reuse our invested money to make more loans to help more people. Many of the loans we made in the past year have been reinvested twice already. - A Record Month
In November, WMF team members made 44 loans worth $1,100. Many of these loans were financed by loan paybacks, but many also were new loans. Our team members remain committed to WMF and continue to invest on a regular basis. Thanks to all who contributed. Our totals through November are 293 loans worth $7,750. Outstanding! - Alternative Christmas Market Proceeds
At the ACM, Wellshire Microfinance received $275 from the sale of Kiva Gift Cards and donations. A big thank you to all who contributed so generously. - A Fond Farewell
Our November meeting was the last one with the Rev. Dr. Pattie Kitchen in attendance. Some of you may not know that Pattie was the inspirational leader behind WMF and that she helped us with publicity and visibility. The fact that WMF has come so far so fast is a tribute to her leadership. We have decided to honor her contribution by making Kiva loans in her honor. We want to say thank you to Pattie for her support in the last 14 months.
Thursday, November 1, 2012
Haiti loans, November meeting, loan totals and a Christmas Market
Haiti Investments: We recently were able to make loans in Haiti. We invested in 4 loans to groups engaged in retail and livestock. Since Hurricane Sandy hit, we pray that our loan applicants will be able to carry out their plans successfully.
Our next meeting is Thursday, November 15 at 12:00 pm. Bring a brown bag lunch. All are welcome. If you need help with your account or would like to set one up, we will be able to help you at this meeting.
The results for October: We added two new members in October. We also made 18 more microloans worth $450. Our current totals are 40 members and 249 loans worth $6650 in 48 countries.
If you can't join us for our meeting, be sure to stop to see us at the Alternative Christmas Market on Sunday, November 18. We will have Kiva gift cards available for purchase @$25 each.
Our next meeting is Thursday, November 15 at 12:00 pm. Bring a brown bag lunch. All are welcome. If you need help with your account or would like to set one up, we will be able to help you at this meeting.
The results for October: We added two new members in October. We also made 18 more microloans worth $450. Our current totals are 40 members and 249 loans worth $6650 in 48 countries.
If you can't join us for our meeting, be sure to stop to see us at the Alternative Christmas Market on Sunday, November 18. We will have Kiva gift cards available for purchase @$25 each.
Wednesday, October 3, 2012
Happy Anniversary, Wellshire Microfinance!
September 28, 2012
“But these three things remain: faith, hope and love; and the greatest of these is love.” 1 Corinthians 13:13
One year after:
Wellshire Microfinance began in faith, with the hope -- in the unknown -- to change lives, and… we received an outpouring of love from you all!
On September 28, 2011, Wellshire Microfinance (WMF) began with the inspiration to spread the Light to lend a hand, not a hand-out, for the greater good. The initial mustard seed amount for this effort was $500. The total impact to our global community has been $7,400.
Another year over and what have we done? We’ve:
WMF has attracted 39 members in its 12 short months since inception. Some members are groups within Wellshire (such as Pioneers, Club 45, Christian Women's Crossing, etc.). These 39 members have lent $6,150 around the world – from Armenia to Mali to Zimbabwe – 48 nations in all! Groups have been the recipients of 11% of these member loans, with individual men at 39% and women at 50% of member loans. Members have made 43 loans in the past 30 days alone! Of the 231 member loans made, 26 have already been repaid.
The WMF committee has disbursed 50 loans totaling $1,250. The WMF loans break down as groups at 24%, individual women at 42% and individual men at 34%. WMF has lost zero per cent of WMF committee loans made since inception. After a WMF committee loan is repaid the proceeds are reinvested with a new entrepreneur.
To learn more about how you may engage in this community-global outreach, contact the Rev. Dr. Pattie Kitchen or Wes Smits, or visit us online here.
Yours in faith, Wellshire Microfinance
“But these three things remain: faith, hope and love; and the greatest of these is love.” 1 Corinthians 13:13
One year after:
Wellshire Microfinance began in faith, with the hope -- in the unknown -- to change lives, and… we received an outpouring of love from you all!
On September 28, 2011, Wellshire Microfinance (WMF) began with the inspiration to spread the Light to lend a hand, not a hand-out, for the greater good. The initial mustard seed amount for this effort was $500. The total impact to our global community has been $7,400.
Another year over and what have we done? We’ve:
- collectively lent out $7,400
- initiated 281 loans
- engaged 10 WPC youth
- received 26 loan repayments
- added 39 contributing members to WMF, and
- directly impacted over 600 lives.
WMF has attracted 39 members in its 12 short months since inception. Some members are groups within Wellshire (such as Pioneers, Club 45, Christian Women's Crossing, etc.). These 39 members have lent $6,150 around the world – from Armenia to Mali to Zimbabwe – 48 nations in all! Groups have been the recipients of 11% of these member loans, with individual men at 39% and women at 50% of member loans. Members have made 43 loans in the past 30 days alone! Of the 231 member loans made, 26 have already been repaid.
The WMF committee has disbursed 50 loans totaling $1,250. The WMF loans break down as groups at 24%, individual women at 42% and individual men at 34%. WMF has lost zero per cent of WMF committee loans made since inception. After a WMF committee loan is repaid the proceeds are reinvested with a new entrepreneur.
To learn more about how you may engage in this community-global outreach, contact the Rev. Dr. Pattie Kitchen or Wes Smits, or visit us online here.
Yours in faith, Wellshire Microfinance
Monday, September 10, 2012
September 9, 2012: A Very Special Day for Wellshire Microfinance
Sunday, September 9 was a very special day for Wellshire Microfinance. Due to the generosity of some of our team members, our team surpassed 200 microloans. Amazing! Incredible! Totally awesome! A marvelous reason to give thanks!
Back on May 10, when we recorded our 100th loan, I wrote in this blog that it would be wonderful if in the next seven months we could make another 100 loans. We did it in four months! What a team! We won't hit our first anniversary until September 28.
Heartfelt thanks to all of you for your interest, enthusiasm, and dedication to WMF!
Blessings to all of you.
Wes Smits
The Future of Wellshire Microfinance
Because our results are dependent on our team members, we would like to increase the size of our team. Our current team members are willing to help you set up an account online, or you can donate to Wellshire Microfinance. Either way your money will be invested in poor people all over the world. Not only does your investment help one person or family, but the money can be reinvested over and over as loans are paid off. That's the beautiful part of this partnership with Kiva.
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