We had a very productive meeting on July 23. We had $372 to reinvest, and after learning we had $1,225 in the restricted fund, we decided it was time to add some new money to our loans. We dipped into the restricted fund for an additional $400 and used the remaining two $25 gift cards, funding 17 loans in 12 different countries. We discussed making our standard loan amount $50 since we are adding more money to the pool. Some loans which are less secure in their payback will still be for $25.
The group learned that some of the field partners seem to charge an exorbitant fee to the borrowers which we had not noticed before. Katy will be sending an e-mail to Kiva to find out more about this.
Our next scheduled meeting is Thursday, Sept 17 at noon at Wellshire.
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
