I want to pick up on my post from Monday, where I briefly touch upon the situation with too little funding for the African businesses on our platform!!
With key learning from the past in our luggage, we now have 6 performing Partners that come with Entrepreneurs who seek funding to develop their business, but more importantly; the Partners come with businesses that have been vetted and found eligible for a loan, as there is a plan for how they will repay the loan!!
The four loans in the picture above are all closing today – actually they close in only a few hours (from 2:26pm CET) and if the auction is unchanged, the Entrepreneurs will go empty handed back to their business and have no option to invest in e.g. additional inventory!
Kabarira (loan 1) is already fully funded hence needs no additional attention in this post – it is the three other loans that calls for your full attention… NOW.
Both Gashugi and Mutangana (loan 2 + loan 3) have had a MYC4 loan before – and both have repaid their loans before time!
Let me top this up; Micro Africa (who is the Provider of all four loans) will cover 100% of defaulted loans through the risk sharing agreement they have made with MYC4 – in everyday language this means that if any of Micro Africa’s Borrowers for some reason is not repaying the loan, Micro Africa will out of their own pocket pay the missing principal amount back to your MYC4 account*!! You can see more about the risk rating of Micro Africa here.
So, I hope you will make this message fly, utilizing the power of Social Media (Facebook, Twitter, Linkedin, etc. etc.).
We know people in general have a busy schedule, which is why we have made it faster to get going – if you choose ‘Donate Money’ you will be able to ‘invest’ within seconds (maybe a minute).
If you don’t make it today – do it tomorrow, because tomorrow 7 additional loan auctions will end!! All in all we have 60 small- and medium sized businesses that want to borrow more than EUR 250,000 (average of EUR +4,000) – this is Africa’s growth engine – lets make it happen!!
I appreciate your help here, cheers folks!
*) Yes, you still carry the currency risk as Investor.