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
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, July 22, 2013
Wednesday, July 17, 2013
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.
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.
Monday, July 1, 2013
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.
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