Our club funding projects through Kiva
We began our venture of making loans to Kiva in the fall when we collected $216 through Happy Hat. The dollars we collected have to date, February 5, 2011, been loaned to five different groups.
The first loan was to Mujeres Audaces (“Bold Women”). A photo of the group and details are indicative of the situations that need small loans such as those made through Kiva and other microlending organizations. The photo below is one that was posted on the Kiva website and attracted the attention of our Minneapolis South Rotary Club International Service Committee.
“This picture was taken in front Sra. Gloria J. C.'s store. Gloria is the person who is in the front row, second from the right. She is a member of the communal bank ‘Mujeres Audaces’ (Bold Women), which is located in Puebla, México.”
“In the photograph, you can see her business as well as some of the groceries that Doña Gloria makes her living selling. She has run her business for 6 years... Doña Gloria is happy with her loan and is pleased that someone trusts in her and in her companions. She is 38 years old, and although she only had the opportunity to attend elementary school, it hasn't prevented her from getting ahead. She is the mother of 3 children, two girls and one boy. With the loan, she plans to continue investing in her grocery store and increasing her number of customers as well as her merchandise. She is firm in her plans to expand her house; she would feel happy about generating more wealth for herself and for her family. She also plans to provide an education for her children, so that they can get a degree and have more opportunities in life.”—copy from the Kiva website.
We have lent Gloria $200 and so far, $147.54 has been repaid. We have used these repaid funds to make 4 additional loans as follows.