I am excited to report that we have continued collecting payments from the Miracles with Microloan pilot program with the women in Kenya! Leah and Consolata, our Kenyan project managers, are working on the most current reports and the first round of testimonials.
In July 2011 we delivered 30 loans to women in the Kuwinda slum. Each woman received about $100 USD to start or expand her small business. Now the women are busy creating successful businesses and paying back their loans. On average the women are about halfway repaid on the loans and interest.
I am excited to report that we are almost half way finished with the Miracles with Microloan pilot program with the women in Kenya! We have learned so much during the last 9 months and will have some testimonials in our next report.
As we move into the first quarter of this year we are looking for additional funding to pay the loan officer and community employees that are helping the women each month grow their businesses. Please consider helping us reach out goal for raising $1000 by the end of February so we will have enough capital to press on.
Asante Sana (Thank you very much my friend)!
Since the April Global Giving Campaign we have delivered a 4 day training to 88 women in the Kuwinda slum of Kenya at the beginning of June. The training consisted of 4 days of micro lending education for the local women, focus groups to choose borrowing groups and establish loan terms, problem solving and signing loan documentation. We delivered the first round of loans to 27 women in the beginning of July and have just gathered the rest of the funds to give out the loans to the remaining 61 women who where at the training in June.
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