Kiva

Our focus in giving, with Charlotte still living at home, was to continue having her take the lead to choose where our giving was directed. This was the first time she used the internet. Kiva was a wonderful tool for viewing a wide scope of needs and joining with others to achieve needed outcomes more efficiently and quickly. Kiva supplied colorful descriptions of circumstances and supporting organizations that provide microfinancing. We were also able to donate a manageable amount, get updates on the loan repayment and then redirect the same original donation to other needs.

Charlotte’s first choice was Eunice who lives in Machakos, Kenya. Kiva provided this description:

Eunice is a 34-year-old lady who is married and blessed with one child. She has been running a grocery shop for five years. She also practices farming to increase her income. She had a tailoring business before she ventured into this business. She hopes to buy a pick-up motor vehicle to enable faster transportation of her goods. She also dreams of being the main supplier of her products in Machakos. She has requested a loan of KES 30,000 to add to her stock of onions, tomatoes and potatoes.

The total loan amount, covered by multiple Kiva supporters, including ourselves, was $400, to be repaid over 14 months. The supporting institution was Faulu Kenya, was described as a sustainable and profitable institution which  provides relevant financial solutions, and savings and credit services to over 225,000 Kenyans.  Kiva has a wonderful monitoring system the assess the performance of these globally based micro-financing institution, that educational for all concerned. Eunice repaid the full amount of her loan 3 months ahead of schedule and Charlotte was able to search through the Kiva files for another need to support.

Charlotte’s choice for turning over our original donation, repaid by Eunice, was Abas Bwire, who lives in Uganda:

Abass Bwire is 47 years old and lives in the town of Bungokho in the Mbale region of Uganda. He is married and has four children, all of whom are currently in school. Abass has a garment shop, which he has run for over ten years.

To help expand his business, Abass has requested a loan of 2,000,000 UGX from Kiva partner, BRAC Uganda. The loan will be used to purchase more clothes for resale. With the help of his loan from BRAC, Abass hopes to generate greater profits, pay school fees for his children and provide for basic needs at home. In the future, he hopes to own several more branches of his business so that he generates enough profit to pay school fees for his children up to university.

The total amount financed between multiple donations was $875. His repayment term was 14 months. He repaid the loan in 11 months 🙂

With our original loan available, Charlotte picked Margret from Uganda, with this description from Kiva:

Margret a hardworking married lady living in Fort Portal, Uganda. She wants to educate her children and build a permanent home.
She has been a sauce pan retailer for over ten years after mobilizing her personal savings. Her major hardships are seasonal weather and inadequate capital to purchase stock. However, she has a vision of expanding her business to new areas and has applied for a loan to buy more iron sheets for her sauce pan business.