Friday, April 11, 2008

Another Kiva Update

Today I hit another Kiva milestone - my first loan repayment came in. Oleg paid off $100 of his $600 loan, of which $16.67 was returned to me. To celebrate this occasion, I am going to make my fourth loan tonight. It's always hard to decide whom to loan to - everyone seems like a pretty good candidate. I've been reading Creating a World Without Poverty and it, along with other information I've found, talks about how lending to women usually leads to a much bigger return on the investment (apparently men in less developed countries tend to spend the family's money on useless crap too). So I think I will focus my effort on women, and take a stab at another country. Let me put that into the Random Microloan Recipient Generator and press this button and see what it spits out...

(beep beep boop...)

...alright, we've come up with the Ketifallawo group in Kalerwe, Uganda. And no, I have no idea what Ketifallawo means (nothing on Google). This is another group loan and in case you were wondering, these kinds of loans are guaranteed by all of the members, i.e. if one member is late defaults the others are responsible for those payments. The group is made up of Anita, Annet, Grace, Sarah, and Joweria. The group members are looking to expand their businesses, by buying an extra sewing machine, more inventory, and iron sheets for a new poultry house among other things.

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