Karma for 2010

Trip Start Feb 29, 2008
1
38
45
Trip End Ongoing


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Flag of United States  , New Jersey
Thursday, December 31, 2009

We have been looking to loan to another entrepreneur but, to our happiness, we couldn't.

Why to our happiness?

Because the loans were fully funded before we had a chance to do so.

This is a wonderful change from when we started, where you could see a loan being on the Kiva.org website for hours, sometimes even a day, before they were fully funded.

Now it’s minutes.

Good job people of the world.

We’ve loaned to the Mana Group through Kiva’s filed partner ADIM (Asociación Alternativa Para el Desarrollo Integral de las Mujeres).

The Mana Group hails out of Masaya, Nicaragua and consists of four women who sell cosmetics. The description by ADIM reads:

"The group "Mana" is formed by 4 hardworking and competent women who rise early to begin their work. They are: Karla Baca Flores, who sells drinks and markets Avon brand products and shoes; Susana Maria Altamirano, who sells tortillas and beans; Nelly Socorro Palacio Berroteran, who has a small grocery store; and Estela Zamora Sanchez, who sells plums and pinolillo (a typical Nicaraguan drink made of roasted corn flour and cocoa.)

They expect that next year they will continue to work and progress, to accomplish this they will invest this loan and dedicate themselves to their businesses
."

The loan should be repaid in eight months, however, this is a risky loan and our first in Nicaragua.

We’ll see, but we wish the Mana group good luck and good fortune in 2010.

Our portfolio now consists of six loans (Kiva member average is 5.1).

Two were defaulted.

Two were fully paid.

One is paying on schedule.

One hasn’t been distributed yet (the Mana group).

We hope we made a difference.
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