I’m pleased to share the news that Dorcas Omokaro has fully repaid her microloan on Kiva. As you may recall, she was my first Kiva microloan, a Nigerian mother of five who sells palm oil and gin. My great hope is that the kids don’t email me in ten years about a vast fortune or with an offer to buy the thing I’m selling on Craigslist. No, they’ll be mixing gin tonics, Pegus, and classic martinis in a bar down the road from their mother’s off-license.
Nora Rosa Rodríguez Rodríguez and Lan Thi Nguyen have now repaid 33% and 67% respectively. Ali just received his funds, so you’ll hear updates about him in the future.
I haven’t picked my next entrepreneur yet. I’m hoping to keep the money widely distributed, so I’ll be looking for another opportunity in Africa, preferably with a funny name to boot. Drop me a comment if you see something interesting.
Oh? You are unfamiliar with Ali? Here’s a little bit about him:
Ali is a 43-year-old man who lives in Saida, southern Lebanon, with his wife and their three children. Ali has been selling fruits and vegetable since 1996. He sells fruits and vegetable from his van, which means he is a mobile salesman. He has requested a loan of 800 US dollars from Al Majmoua in order to purchase vegetables for his business.
This is Ali’s second loan cycle and he has always paid on time. His previous loan helped him diversify his merchandise. His clients are his friends and neighbors, and small markets. When he first started his business, he didn’t have the start-up. He decided on doing his business because of his experience in sales. In the future, he plans on expanding his business.
View Ali’s page on Kiva.org
In case you’re wondering, Nora Rosa Rodríguez Rodríguez, Lan Thi Nguyen, and Dorcas Omokaro are doing okay (17%, 58%, and 88% repaid respectively).