Accountants for Social Good Profiles a Successful Microlending Endeavor
With the concept of microlending being rather new to social entrepreneurs in established and developing countries, Kiva.org stalwart lending team, Accountants for Social Good (ASG) shows how loans to people in the third-world are both helpful, necessary, and also sound investments.
San Francisco, CA, October 04, 2011 --(PR.com)-- Through Kiva LLC, (www.kiva.org), Accountants for Social Good has helped fund many loans to entrepreneurs worldwide. Komildjoh Shoimov was one of the individuals to which Accountants for Social Good (ASG) has lent. Currently, ASG sits atop All Business lending teams in donations for the month of September, and has consistently ranked in the Top 3 for loans in any given month for a prior six month rolling period.
Komildjon Shoimov lives in the Khuroson district of Tajikistan, a small country located in the Middle East north of Afghanistan. Komildjon is 33 years old, married and has 2 children. His wife is a homemaker and their parents currently live together with them. Komildjon is involved in retail sales and primarily sells automotive spare parts.
Back in 2010, Komildjon requested a loan, in the amount of $2000, in order to increase his goods turnover and expand his business. Komildjon’s loan request was pre-disbursed to him, by Kiva’s Field Partner, MLO Humo and Partners, on March 4th. Field Partners are existing microfinance institutions around the world with which Kiva partners. They are responsible for screening borrowers, disbursing loans, collecting repayments, and administering Kiva loans.
The loan request was officially listed on Kiva.org, on April 1st, 2010, where 59 different lenders, including Accountants for Social Good, together funded the loan amount of $2000. The loan was for an expected period of 12 months, where each month Komildjon was expected to repay $166.67 back starting in June. As shown below, each month Komildjon was able to repay the expected amount, and he even profited enough from his retail business to pay off the loan two months ahead of the schedule.
For a country where the average annual income is $1,388, it is a fascinating feat that Komildjon Shoimov was able to profit enough from his business to not only repay the loan amount of $2000, but also repay it back earlier than expected or required. Accountants for Social Good makes it their mission to help people like Komildjon Shoimov. People who aren’t just looking for a donation, but are motivated and willing to work hard to improve themselves and their businesses, for the sake of their family and their living standards. However, loan repayments on Kiva are in the Ninety-Eight (98%) repayment rate. It goes to show that conventional thinking about one's "ability" to pay by analyzing only credit scores and income, as opposed to including their willpower and need to succeed, is skewed.
ASG has remained one of the most dynamic and fastest-growing teams on Kiva. If you would like to join, the team has an Open enrollment policy (meaning they will accept your request) and you can join by signing up for Kiva and visiting http://www.kiva.org/team/accountants_for_social_good .
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Komildjon Shoimov lives in the Khuroson district of Tajikistan, a small country located in the Middle East north of Afghanistan. Komildjon is 33 years old, married and has 2 children. His wife is a homemaker and their parents currently live together with them. Komildjon is involved in retail sales and primarily sells automotive spare parts.
Back in 2010, Komildjon requested a loan, in the amount of $2000, in order to increase his goods turnover and expand his business. Komildjon’s loan request was pre-disbursed to him, by Kiva’s Field Partner, MLO Humo and Partners, on March 4th. Field Partners are existing microfinance institutions around the world with which Kiva partners. They are responsible for screening borrowers, disbursing loans, collecting repayments, and administering Kiva loans.
The loan request was officially listed on Kiva.org, on April 1st, 2010, where 59 different lenders, including Accountants for Social Good, together funded the loan amount of $2000. The loan was for an expected period of 12 months, where each month Komildjon was expected to repay $166.67 back starting in June. As shown below, each month Komildjon was able to repay the expected amount, and he even profited enough from his retail business to pay off the loan two months ahead of the schedule.
For a country where the average annual income is $1,388, it is a fascinating feat that Komildjon Shoimov was able to profit enough from his business to not only repay the loan amount of $2000, but also repay it back earlier than expected or required. Accountants for Social Good makes it their mission to help people like Komildjon Shoimov. People who aren’t just looking for a donation, but are motivated and willing to work hard to improve themselves and their businesses, for the sake of their family and their living standards. However, loan repayments on Kiva are in the Ninety-Eight (98%) repayment rate. It goes to show that conventional thinking about one's "ability" to pay by analyzing only credit scores and income, as opposed to including their willpower and need to succeed, is skewed.
ASG has remained one of the most dynamic and fastest-growing teams on Kiva. If you would like to join, the team has an Open enrollment policy (meaning they will accept your request) and you can join by signing up for Kiva and visiting http://www.kiva.org/team/accountants_for_social_good .
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Contact
Accountants for Social Good
Mindy Tran
866-340-5652
www.accountantsforsocialgood.com
Mindy Tran
866-340-5652
www.accountantsforsocialgood.com
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