November 2013 results

Our group made investments consistently throughout the month. Whenever we have a pattern of investing from start to finish, we usually have a very good month. November was no exception. We finished the month with 46 loans worth $1175. Our cumulative totals are now 721 loans worth $18,625. In addition, we received two generous donations from our members. We are grateful for the participation of so many of our members. We look forward to strong participation in 2014.

May you experience the blessings of the Christmas season in the weeks ahead!

Recap of November 2013 meeting

At our regularly scheduled meeting this past Thursday, our group was able to make 21 new loans. Ten of the loans were made using loan paybacks. Eleven loans were made using two recent generous donations. We are grateful to the two people who contributed the funds. The extra loans we were able to make put our cumulative total over 700 loans.

We received notice on Friday that loans to the Philippines will probably show on our accounts as delinquent because many of the loan recipients were totally wiped out and the Field Partner has no way to communicate with Kiva. I think it's likely that loans to the Philippines will go into default. Fortunately, we don't have many loans outstanding in the Philippines. You may want to check your portfolio to see if you have any loans there. We simply had no way of predicting that this would happen. Natural disasters of this magnitude affect every area of life. Pray for those affected by this horrible tragedy.

October 2013 Recap

This month, our members made 28 loans worth $700. We had some donors make multiple loans, which always makes our totals grow faster. Our cumulative totals through the end of October are 675 loans worth $17,450. Our members continue to invest regularly, including using up their loan paybacks.

Since the start of November, we have added 11 more loans which will be counted in the November totals. In addition, we will be able to invest our loan paybacks, which will add 10 - 12 more loans for November.

November is also the time for the Alternative Christmas Market. We hope to add new members at that time. If any of you would be willing to sit at our table for the ACM, please contact Wes Smits.

Thanks to everyone who participated in October. Your dedication to microfinance is so important to the success of our organization.

September 2013 Report

Two Years of Kiva Lending

Wellshire Microfinance (WMF) once again added over 40 loans in September. The totals for the month were 41 loans worth $1,025. For the past three months, we've averaged over 40 loans per month. Our cumulative totals for the past two years are 646 loans worth $16,725. During this time, we have averaged 27 loans per month from both loan paybacks and new funds. Our hope is that the past results will continue over the next year.

Watching Out for Loan Paybacks

In the past year, our totals have been greatly increased because our members reinvested their loan paybacks. We will continue to grow WMF if we continue to reinvest the loan paybacks.

The Alternative Christmas Market

We have always recruited new members at the Alternative Christmas Market. We hope this year will continue that trend. Anyone who can help man our table at this event on Sunday, November 24 would be appreciated.

Wellshire Microfinance Report for August 2013

One Year and Eleven Months Later...

Back on September 28, 2011, we held our first meeting of Wellshire Microfinance with $500 seed money. We had no idea if anyone would show up or how long we could sustain interest or growth. We were pleasantly surprised that people were interested and excited about the concept. As we went along, we were always surprised and thankful that our members came through for us whenever our coffers were rather empty.

On August 31, 2013, Wellshire Microfinance made our 600th loan. In 23 months. Our totals are now 605 loans worth $15,700. For the month of August, our members made 39 loans. For the last two months, we've made 80 loans. Wellshire Microfinance ranks 70th out of 1,049 religious congregations with Kiva. The temptation is to say WOW! and pat ourselves on the back, but after reflection we remember that God has given us so much and enabled us to use our resources to help others. For that we are humbly thankful.

A Month of Celebration

Since September is our two year anniversary, we would like to publicize our involvement with Kiva. If anyone has ideas how we might do this, please let me know. We could hold a registration drive the last Sunday of September. We could do a M4M. Other ideas? Please let me know soon if you can come up with something new. Any volunteers to carry out our plans?

Many Thanks!

We owe thanks to many people. I would like to recognize them at this time:

• Glen MacCallum and Dan Zuchegno for helping us get off the ground
• Rev. Dr. Pattie Kitchen who was the driving force to get us moving
• Steve Cearley for helping us with computer issues
• Curtis Roe for operating the computer and projector
• All of the great people who took a chance on WMF when we were starting out.
• Sonya Merriam for her invaluable computer graphics skills and her enthusiasm for WMF and Kiva
• All the generous people who donated money to keep us "in business"
• All the kind and generous people who made loans whenever they were able
• All the investors whose faithful and generous investments extended our reach to so many poor and needy people in this world beyond what we thought possible

Most of all, thanks to our merciful Savior, who "came that we may have life and have it abundantly."

Wes Smits

Letters from Kiva

Two recipients of Wellshire’s Microfinance microloans lent through Kiva wrote letters to their lenders.  Click here to read their stories.

Wellshire Microfinance Responds in a Big Way

At the beginning of July, Kiva informed us that loan applicants were far exceeding the number of people making loans. When the word got out to our members, a variety of people responded.  July's participants were the most diverse group we've had in some time. After our July meeting, when eight of our loan candidates were in danger of not being fully funded, more people came forward to make additional loans. All but one of the eight underfunded recipients are now fully funded.

In July, our members made 41 loans worth $1,025. Many of these loans, including the 12 we made at our meeting, were funded with loan paybacks. We also counted four loans from Club 45. One of our supporting members made 10 loans. The rest were one or two loan contributors. It was truly a team effort! Thanks to all! In spite of the summer vacation, team members were very active.

Our Cumulative Totals
Since our beginning on September 28, 2011, our team has made 566 loans worth $14,550. We have made our loaves and fishes multiply to feed thousands. Since most families in third world countries have 4-5 children, it's conceivable we have helped close to 3,000 people. A cause for praise and gratitude!

New Members Needed

We have been steady at 48 members for quite some time. It would be wonderful if we could increase that number. For our second anniversary on September 28, 2013, let's see if we can increase our membership to 50.

Results of July 19, 2013 Meeting

At our meeting on July 19, we made 12 microloans and were left with a balance of $5.95. The significant part is we were able to fund these loans entirely with loan paybacks.  No money came from our restricted funds.  We made loans in Azerbaijan, Senegal (2), Ghana, Samoa, Costa Rica, Mali, Togo, Ecuador, Kenya, Cambodia, and Sierra Leone. We are now up to 543 loans.

I don't want to give you the false impression that now we can relax because our loan paybacks generated the money for our microloans.  Kiva announced this week that the number of prospective microloans far exceed the funds coming in to underwrite these loans.   Now more than ever Kiva needs people to step up to finance the volume of loans.   This is a critical time for third world countries.  Because of better health and sanitation measures, as well as improving economies, populations are exploding.  The populations in African countries are growing up to eight times faster than in the rest of the world.  So the more generous and vigilant we are, the better chance Africa has to avoid a catastrophe.

We give thanks for those who were instrumental in making these loans possible and will hope that generosity continues.  You can either select your own loans or give to Wellshire Microfinance through offerings and we will make the loans for you.  Either way you are doing the Lord's work.  The harvest is ripe.

Blessings on your efforts,

Wes Smits

A Kiva Story: How People Choose Their Microloans

A Kiva Story: How People Choose Their Microloans
by Wes Smits

When we find hundreds or thousands of loans on Kiva.org to pick from, it’s difficult to pick one out. Some people go to the country of their ancestors for loan candidates; some go to a country they’ve visited once or worked in with the Peace Corps; some choose a certain occupation, such as artisan or tailor or farmer or food sales. Some people do careful due diligence and consider credit worthiness. Others look at the faces or the group name. Some choose by gender. Some carefully read the story of the applicant.

Recently, I chose a loan because of the person’s name. Usually, I start with the country of Cambodia. In the early 1980s, my wife Donna and I got involved with sponsoring Cambodian refugees. Our first refugee family consisted of a husband and wife, four small children, a widowed sister and her daughter, and the wife’s half brother. We found them a place to live, took them to medical appointments, helped them learn English, navigate the government bureaucracy, find jobs, and all sorts of miscellaneous stuff.

The one experience I remember vividly is taking their eldest daughter to kindergarten for the first day. She was frightened because she didn’t speak English, didn’t know anyone there, and had no idea what school was. Her name was Sopheak (pronounced So-peh). On a rainy September morning, I brought Sopheak to Mrs. Wilson’s classroom, stayed for about half an hour and then left. That night, I received a call from Mrs. Wilson, telling me that Sopheak had kicked her in the shin. I explained to Mrs. Wilson that Sopheak was a frightened little girl and urged her to be patient.

We soon lost track of Sopheak and her family because they moved to South Dakota to buy an Asian restaurant. About twenty years later, my wife and I were invited to a Cambodian wedding, which is a huge event in their culture. During the course of the reception, a lovely young lady came up to me and said, “Hi, Wes. Do you remember me?” Embarrassed, I said I didn’t recognize her. She said with a big smile, “I’m Sopheak.” She went on to tell me that she was married with two children, had gotten her nursing degree, and had gone on to become manager of nursing for a large pediatric clinic. Donna and I were so pleased and so proud of her.

Which brings me back to choosing loans on Kiva: As I was scrolling through the Cambodian loans, I ran across a rice farmer whose name was Sopheak. I didn’t go any further. I clicked on “Lend.” Later on, I read that this lady was from Battambang Province, the same place where our Sopheak was born. It doesn’t matter if the loan is ever paid back. I made the loan in honor of Cheng Sopheak, the young Cambodian girl who had come so far and made us so grateful and happy for all she had become.

Totals for June, New Meeting Day in July, and New Loan Opportunities

Totals for June

Since May 20, 2013, when we reached 500 loans, our team has made an additional 25 loans. Our totals now stand at 525 loans worth $13,500. Considering graduations, weddings and vacations, June was still a very good month for WMF. A big part of our success in June was that team members checked their account balances under "My Portfolio" and reinvested their loan paybacks. One person in particular made the majority of our loans for June using his loan paybacks. In June, Kiva made several distributions of payback money. Our team currently has $232 in our account, which we will invest at our July meeting.

If you haven't checked lately, please go to "My Portfolio" and check your account balance. Just click on the orange bubble "Relend Credit" and Kiva will deduct your credit from the cost of your new loan. Using the loan credit I had, the new loan I made this morning cost me $10.03 If we all make an effort to reinvest the credits in our accounts, we could generate several new loans.

New Meeting Day in July

Some people have difficulty attending our meetings on Thursdays at noon. To give these people an opportunity to attend a meeting, we will hold our July meeting on Friday, July 19, at Noon. We will decide based on attendance whether to continue with Friday meetings or go back to Thursdays.

New Loan Opportunities

This morning there were abundant loans available in Haiti (3), Zimbabwe (14) and Mali (94). The loans in Zimbabwe were to buy winter clothes for resale. We don't usually think of winter in Zimbabwe, but it happens there, too.

Microfinance Report for May, 2013

500 Loans in 600 Days

Since we began Wellshire Microfinance on September 28, 2011 with $500 seed money, we have grown steadily. Some months have been blockbusters and some have been "lean," but we have always grown. On May 20, 2013, WMF made its 500th loan in 600 days. This has truly been a team effort. For that we give thanks. The recipient of our 500th loan is the KUMBOEDZA CHINEMBIRI GROUP in Zimbabwe. They will use the money to restock their grocery store.

The value of the loans we have made now stands at $12,850. Of course, that doesn't mean that we've contributed this much. The money that we invested back in 2011 and early 2012 has been reinvested in new loans as they are paid back. Some of our early money has now been invested two additional times. That's the beauty of microlending: the value of our investment can be multiplied many times over if we keep reinvesting our loan paybacks. The model we can use is the Parable of the Talents. When we invest in God's children, God says, "Well done, good and faithful servant."

Wellshire Microfinance Report: April, 2013

The One Acre Fund
In Kenya, farmers have been given the opportunity to more than double their crop production. Through a partnership between KADET, the microlending arm of World Vision, and KIVA, farmers can receive help in buying seeds and fertilizer at lower prices and also receive consulting services at no charge for one acre of crop production. Not only does the increase in production create more income for the farmers, which helps their families, but it also enables them to buy dairy cows and chickens with the help of loans, which gives them another source of income and provides more protein in their families’ diets. If you look at the microloans available on Kiva’s website today, you will see numerous requests for loans to buy dairy cows and poultry. This is only possible because agricultural production has increased.

Are You Investing Your Loan Paybacks?
In the last two months, our Wellshire Microfinance account has accrued $212.63 in loan paybacks. We will invest this money at our May meeting (third Thursday, May 16 at 12:00 pm). If you haven’t checked your own account lately, you may find you have money to reinvest. It’s easy to do: Click on My Portfolio. Enter your email address and password. You should see a bubble that tells you how much has been repaid. Then go to Lend. When you select a recipient for your loan, Kiva will automatically deduct the amount in your account from the cost of your loan at checkout. If your loan is for $25 and you have $15 in your account, the cost of your loan will be $10. This is the fun part of Kiva microlending!

Results for April
In April our team made ten loans worth $250. Our cumulative totals are now 462 loans worth $11,900. If we make an effort to reinvest our account balances in May, we should hit 500 loans by the end of May. Let’s keep on truckin’!

Wellshire Microfinance Report: March 2013

1,000,000 Loans

If you saw the Kiva website this month, you noticed that Kiva surpassed 1,000,000 loans this month.  It’s difficult to imagine the enormity of their operations.  Keeping track of all this data is amazing.  If the average sized loan were $1,000 (it’s probably more), it would take 40,000,000 microloans to supply 1,000,000 loans.

Haiti and Zimbabwe

This week new loan opportunities appeared for people in Haiti and Zimbabwe.  Since Global Service Ministries is quite involved in these two countries, it might be a good thing to support loans in these countries, which are some of the poorest on earth.  The loan applicants in Haiti are two groups that WMF has made loans to before.  Both were repaid.

Another Outstanding Month

Our team made 58 loans this month.  Several individuals made multiple loans, and the team made eight loans at our regular meeting.  We also added one member this month.  Our grand totals are now 48 members, 452 microloans in 53 countries worth $11,650. 

Top Ten

If you’re curious about where most of our loans are made, here are the top ten countries that have received WMF loans:  1. Kenya (49) 2. Peru (38) 3. Uganda (27) 4. Ecuador (20) 5. Philippines (20) 6. Colombia (17) 7. Lebanon (16) 8. El Salvador (15) 

9. Bolivia (12) 10. Cambodia (11).   

Results for February

Our totals for February are 27 loans worth $775.  At least nine of these loans (and possibly more) were made with payback funds.  Wellshire Microfinance has now made a total of  394 loans worth $10,375.  Our totals rank Wellshire 81st out of 1,012 "Religious  Congregations" in Kiva's totals.  That is outstanding, given that many churches have been involved with Kiva for much longer than we have.

Matters for Thanksgiving and Prayer

Secretary of State John Kerry announced last week that nine African countries showed economic growth last year of more than 8%. That does not mean that these countries are now pleasant places to live, but it does mean that the economic trend in these countries is much better than had been projected.  This news is cause for thanksgiving!

Two countries that should be in our prayers are Mali and Kenya.  In Mali, the war between Islamist rebels and the government is not over.  The rebels have moved back to their homes and continue to foment revolution.  This makes it more difficult to ferret them out.  Some of the rebels have also fled to surrounding countries.

In Kenya, new elections are planned for this year.  The last election in 2007 was the cause of much violence, pitting neighbor against neighbor.  The same person who stirred up all the trouble in 2007 is back for the elections this year.  Please pray that the election may be peaceful and that the progress that Kenya has made in the last five years will not be destroyed.

Please pray for the safety of our mission co-workers who live and work in these countries.

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%.

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.