Welcome to the First Quarterly Meeting of the Kiva/Net Cotton Content Portfolio Shareholders.
On November 24th, we began operations by announcing our three first $50 investments in micro-lending on Kiva.com, with $150 donated by loyal and generous readers John, Rachel, Emily, Abbie, and Michelle (and your humble writer).
The Best News
I've just received word that one of my students at CCAD has invested in Kiva. Yes! She made the investment, blamed me, and Kiva told me. Nice!
I'm pleased to report — despite the world credit markets and the general downward trend in just about every economy — our three investments are still holding steady.
For background on the three entrepreneurs, revisit the original report. Here is an update on each.
Guinea Pigs in Peru!
He and his wife are probably providing a lot of mood lighting for guinea pig dancing. His first payment was due last week and has probably already been made. (Reports of payments are delayed until the funds have made their way all the way back to us.)
Strawberries in Palestine!
Fully funded and paying back...
Suzan Hamoudeh completed her fundraising and has already paid back 17% of her total $1,000 loan.
The comments from the other lenders have — at times — been politically critical of Israel's actions in Gaza. I expected as much, since this is a Palestinian farmer. However, I've chosen not to jump into the debate. That's not why we chose her. We chose her because we like strawberries and we think this strawberry farmer deserve a break no matter how foolish all the men are around her.
A Butcher in Azerbaijan!
Djahid Suleymanov has repaid 25% of his $1,000 loan. (Our $50 completed his fundraising.)
The only report came right after our investment from the field partner: "Thank you for your loan. It has been disbursed to Djahid Suleymanov by Komak Credit Union in Azerbaijan. We are excited to watch this business grow. Over the next 12 months, Komak Credit Union will be collecting repayments from this entrepreneur and posting progress updates on the Kiva website."
What Happens With The Money?
So, far $20.75 has been returned to our account. We can either take it back or relend it to other entrepreneurs.
What to do?
Be a schlmiel (take it back) or a mensch (relend it).
Please remember: these are real people, living valid lives, in color.