After several months of planning, procedural development, staff training and client training, we posted 8 loans recently with Kiva website and all of them ($5,700) were funded in just two days! I was impressed by the effectiveness of getting the attention and interest from individual micro lenders around the world. We plan to increase the posting gradually to $50,000 a month up to $600,000 in total this year. We are currently booking the loans for individual member loans within groups, but we plan to register agricultural loans and micro leasing products that generally carry highger risks than other microfinance loans.
Kiva loans are a good and cost-effective funding source for UOB and they are also an effective risk mitigation tool for loans of high risks. Viva Kiva!
Please visit http://www.kiva.org/ if you are interested in learning more about the UOB loans on the Kiva website or Kiva program itself. - Jeffrey
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