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.

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.

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:

• 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

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.

The Numbers Year to Date

After 11 months of activity, here are the totals: 37 team members, 195 microloans worth $5275 in 45 countries. These results are reasons for thanks and praise to God. Our initial seed money of $500 has increased 10 fold through the generosity of our team members. When you analyze the numbers, the most important number is 37 team members. Their interest and generous support made this possible.

A Record Month

When we first began Wellshire Microfinance, the possibility that microfinance might be a fad that would soon fade away was in the back of some peoples' minds. However, our August results would seem to allay those doubts. On August 23, our team made 18 microloans at our meeting. We had four new people present who were interested in microfinance. The 18 loans were the most we have ever made at one meeting. In the two days after the meeting, 3 more loans came through that were related to our meeting. Even more encouraging, during the month of August, an equal number of loans were made by team members on their own without any prompting from the team. Our total for August is 41 loans worth $1025. We want to thank all our dedicated, enthusiastic, generous team members for making this possible. These results convince me that Wellshire Microfinance is not a fad.

Wellshire Microfinance Meeting TOMORROW!

On Thursday, August 23 at 12:00 pm, bring a brown-bag lunch and meet in Room 208 to find out what Wellshire Microlending through Kiva is all about. All are welcome to attend and help us invest monies on hand from loan repayments and generous donations. We welcome everyone's input in selecting new borrowers. If you are unable to attend, please email Wes Smits with the names of people from Kiva who you feel would be worthy candidates. You can email your choices up through tonight.

For what purposes do people want to borrow money?

Our team has made loans in about 30 different categories. Carpentry and construction supplies are number one with 13 loans each. Close behind are livestock and food sales with 11 loans each. Clothing sales and farming are also quite popular.

Do you see the pattern? Food, shelter, and clothing are the borrowers' most important needs. Their needs are just like ours, but certainly more critical. By applying for these loans, the borrowers are trying to do something to improve their economic situation and become self-sufficient. Our team wants to assist them.

Where does the money go?

We have made microloans in 42 countries. Countries that seem to find favor with our team members are Kenya (24 loans), Uganda and Peru (10 loans each), Nicaragua and Ecuador (6 loans each), Paraguay, Cambodia, and Colombia (5 loans each). Ten other countries received 3 loans each.

July 2012

In spite of the high temperatures in July, the Wellshire Microfinance team did not slow down. Our July totals include two new members and eighteen new loans worth $450. Since September 28, 2011, our team, which now includes 36 members, has made 154 microloans worth $4250 covering 42 countries. Thanks to all who participated!
We expect to grow even faster in August. Watch the bulletin for the time of our next meeting. All are welcome to attend and help us invest monies on hand from loan repayments and generous donations. We welcome everyone's input in selecting new borrowers. If you are unable to attend, please email the names of people from Kiva's website who you feel would be worthy candidates. You can email your choices the night before our next meeting. Send them to smitswd@gmail.com.

If You Want to Join Wellshire Microfinance...

Click here, then click on "Join Team;" fill out the requested information, then make a loan by clicking "Lend."

Facts about Kiva

Kiva makes between $2 million to $3 million in loans every week.

The repayment rate on Kiva loans is close to 99%.

Kiva has earned a four-star rating (the highest) from Charity Navigators.