We got an update on the loan you gave! :)



Dear FAHS Seniors EconomicsClass,

This is an update on your loan to Zachariah Mathenge Wambugu.

Thank you for your loan. It has been disbursed to Zachariah MathengeWambugu by People Microcredit Investment Bureau in Kenya. We are excited to watch this business grow.

Over the next 6 months, PeopleMicrocredit Investment Bureau will be collecting repayments from this entrepreneur and posting progress updates on the Kiva website.

2nd & 3rd hour, Spring 2008

Both hours picked the same entrepreneur to invest in -

Zachariah Mathenge Wambugu from the Malaba - Teso District in Kenya!

http://www.kiva.org/app.php?page=businesses&action=about&id=49921&_tpos=1&_tpg=1

He owns a business where he makes pots and pans out of melting down car parts. He asked for a loan of $1200, and each class loaned $25 each. He did have a loan through Kiva before and paid it back, even when Kenyan politics were creating problems in the country. He wants to buy materials in bulk so he can increase his production.

The loan period is for 6 months.

The site did warn that because of the political issues in Kenya, there might be default. Both classes plowed ahead anyway!

**Update: As of 11:10 AM on Thurs May 29th, he had already received full funding for his loan! I'm so glad we paid for it immediately!**

Kiva Blog

This is a test.

2nd & 3rd hour Econ rock.

Really.