July was an OK month. We did not break any records, and it wasn't one of the best months, be the team kept wrowing on total amount loaned, number of loans and membership. Five new members joined on July, welcome:
Brian (Walnut, CA)
Rosa (Brawley, CA)
Let (Toluca, Mexico)
Monica (Toluca, Mexico)
We reached the total amount loaned of $30,000.00 finally. It took us 6 months to reach $10,000.00, 3 months to reach $20,000.00, and three more months to add another ten thousands.
The conflict with Admic Nacional has finally reached a solution. Despite the fraud orchestrated by the managers, Adminc Nacional will repay the nearly $50,000.00 it owes to kiva lenders over a two year period. Better than nothing. It is really sad that that an organization whose goal is to help out those who need it the most has betrayed so many people that in good faith trusted them with their hard earned money. I’m also disappointed with the information Kiva is disclosing about this, they don’t mention further details about the nature of the fraud or if the responsible people have been held accountable.
Fundacion para la Vivienda Progresiva and Fundacion Realidad are the field partners serving Mexican Entrepreneurs left. They seem to be in good standing and repaying thier debts.
Now the graphics...
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