repayments

First payments on my Babyloan loans

wiseclerk

In December I discovered Babyloan (see blog post) – a microfinance platform like Kiva allowing individuals to lend to small entrepreneurs in developing countries.

Now the first payments by borrowers took place. Lenders are notified by Babyloan via email. Sample email:

The entrepreneur Suman has reimbursed 373,00 € to the MFI and has 2987,00 € to reimburse. You will receive an email for each reimbursement. After the last reimbursement, you can either reinvest this money or have it transferred to your bank account.

Kiva repayments now immediately available for reinvestment

wiseclerk 2 Comments

UPDATED: Kiva states in an email that this action returned 10 million US$ from partially repaid loans to lender accounts – available now for re-lending.

In the past Kiva used to credit repayments to the lender accounts only after a loan was repaid in full.

That changed last week when I received the following email from Kiva:

We are happy to announce that Kiva will now return repayments to lenders
as soon as those repayments are received by Kiva. Because of this
change, you’ll be able to re-lend funds right away instead of waiting
until the end of the loan term. We hope you enjoy this new feature!

As a result of this change, $231.44 in Kiva Credit has been released to
you and is now available for you to use. You can re-lend these funds,
donate or withdraw them.

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