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Kiva Loan #2: update - Loan Disbursement

May 31, 2007 | Posted by InvestorBlogger |

As many of you know, I’ve been supporting Kiva for quite a while, though my total sponsored is still not great! Anyway, my second borrower has been fortunate enough to find that his request for a loan has been disbursed! I just received notification today. So I would like to congratulate him, and hope that one day his business is such a success!

HereÃ¢â‚¬â„¢s a little about the micro-borrower Efrain Montuffar Olguin from Kiva.org: Ã¢â‚¬Å“EfraÃƒÂn has been running his business for a year and a half. My business is a money-exchange shop near the border. People need to convert their money into U.S. dollars to go shopping in Texas, and that is how I provide a service to my community. I would like to invest more money into my business to increase my earnings, but I have not been able to. IÃ¢â‚¬â„¢m asking for $1,200 to invest in my business.Ã¢â‚¬Â

The official note stated:

Thank you for your loan. It has been disbursed to Efrain Montuffar Olguin by FundaciÃƒÂ³n para la Vivienda Progresiva in Mexico. We are excited to watch this business grow. Over the next 12 - 18 months, FundaciÃƒÂ³n para la Vivienda Progresiva will be collecting repayments from this entrepreneur and posting progress updates on the Kiva website.

It’s exciting to watch others build their business much as we did 7 years ago! So all our best wishes are with Efrain Montuffar Olguin.

For those of you who would like to support my efforts in this area, perhaps you would care to take part in my Kiva competition, or donate directly to Kiva.org.

Thanks.