Forum > Borrower Questions > Members Fund Loan Forum Guidelines

  • Martin Kimani Mwangi
    Bahati, Nakuru, Kenya

    Feb 4, 2018

    Hello members. I have a question regarding MFL. When applying for a new loan, there is an option to select the MFL that one prefers. But the question is, how comes this MFL is part of the loan hence the obligation of the lenders? Is it possible that the borrower pays this MFL so as to qualify for higher credit limit. I kindly request for members comprehensive reaction to this issue. Regards.


    Robert Langat likes this.

  • Lender since 23 Jan 2015... Staff Member since 26 Mar 2015
    Laurie
    United States

    Feb 4, 2018

    The MLF deposit fee is the obligation of the borrower, not of the lenders.

    Here is what happens:

    - Lenders from around the world contribute money to help fully fund the loan requests of their choosing.

    - Zidisha's Administrative Staff *administers* the loans, and also performs all other administrative functions on the platform, for a fee (the 5% Service Fee, which is for Zidisha's operating expenses).

    - Zidisha deducts one, two, or a maximum of three fees, from the principal loan amount before disbursing the remainder, which is the Net Disbursement that goes to the borrower, which the borrower *repays*; the borrower also has to *pay* the fees that he/she agreed to when he/she confirmed acceptance of the terms. The amount to be repaid (the Net Disbursement), and the amounts to be paid (the Fees), comprise the total amount due: the Net Disbursement *plus* the Fees *equals* the principal amount owed, which gets remitted in flexible installment payments, over time.

    (One of the fees deducted and retained before the Net Disbursement goes out to the borrower--which is retained from the money that the lenders contributed toward fully funding the loan--is the MLF deposit fee, if the borrower opted to pay that fee in exchange for more quickly reaching a higher credit limit... this does not, however, mean that the MLF deposit fee is the obligation of the lenders; it most definitely is the obligation of the *borrower*... the borrower confirms acceptance of the terms before the Net Disbursement goes out, and the terms clearly indicate which Fees are being charged to the borrower, and what the total amount due is, over time. It is the Principal amount that is due, which is comprised of the Fees and the Net Disbursement. The "Principal Disbursed" is the obligation of the *borrower*, not the lenders. Another way to think about it is that the "Principal Disbursed"--terminology which I think is confusing and needs clarifying--is comprised of the Net Disbursement described above [which went to the borrower and which he/she has to repay to Zidisha, and then which Zidisha repays to the lenders], *plus* the Fees [which got "disbursed" into the special reserve fund described below {except for the 5% Service Fee which got "disbursed" into Zidisha's operating account for running the platform}, and which the borrower has to pay to Zidisha, and then which Zidisha repays to the lenders]... it is important to understand that it is that "Principal Disbursed" which is the total obligation of the *borrower*... which is the Net Disbursement plus the Fees.)


    - Zidisha places the deducted fees into the appropriate accounts:


    1.) The 5% Service Fee is for operating costs.
    (This fee is charged on every loan, and is non-refundable.)


    2.) The MLF Deposit Fee goes into a special reserve fund to help partially reimburse lenders in case any borrowers default. It is sort of like insurance, except that it is better than typical insurance, because there is not a premium (fee) due each and every year *on top of* the premium paid in each and every earlier year, without any refunds ever occurring. The borrower only ever has to have one MLF Deposit Fee in this special fund (overall... and by that I mean, if it ever gets refunded, then the next time a loan is requested, a deposit has to go back into the fund, but it is not that the amount has to be paid in, left in, and paid again... that is what happens with typical insurance policies, but this "safety net" that Zidisha has created for lenders--and really more for borrowers--is not nearly as expensive as typical "insurance").

    (This fee is refundable anytime the borrower does not owe anything on his/her account. If refunded, however, it has to be paid back in the next time a loan is requested, as mentioned above. It is best to keep the fee in the fund, if at all possible, because it becomes a better and better deal, over time, the more Zidisha loans the borrower completes. Another reason is because if the MLF deposit fee is refunded, then the credit limit reverts back to the lower amount it would have been had the borrower never paid into the fund... because, in effect, he/she hasn't, if he gets that money back.)


    3.) The Membership Registration Fee used to be small and used to go toward operating costs. However, now, it is larger and it, too, goes into the special fund just mentioned above, to help reimburse lenders, which in turn helps to ensure that there would be re-lending funds available to help fully fund future loans for borrowers.

    (This fee is charged only one time, is non-refundable, and entitles the borrower to a lifetime of Zidisha loans, one at a time, for as long as the borrower account is in good standing; i.e., the borrower has not violated any of Zidisha's terms and conditions.)


    - Note that the special fund, mentioned in 2.) and 3.) above, would never have been necessary to create *IF* all borrowers always would repay each loan, in full, and in a reasonable amount of time. That not being the case, though, Zidisha could not continue to exist if it were not for the existence of this special fund. It has gone by two names over time: first, the Loan-Loss Reserve Fund (which I think more accurately describes what it is), and now it is called the Members Loan Fund. (Please do not confuse the refundable Members Loan Fund--MLF--Deposit Fee with the non-refundable Membership Registration Fee.)


    4.) Zidisha does not charge *any* interest on any loans. All Zidisha loans are offered at 0% interest rate. Most lending organizations charge fees *and* interest (and they often charge *high* interest rates). Zidisha keeps its overhead costs low and, therefore, can afford to charge fees only and *no* interest rate at all. After the initial loan, most future Zidisha loans carry only the 5% Service Fee.


    - Next, the borrower remits money via the money-transfer partner (in Kenya, that's M-Pesa). Since Zidisha has kept the fees already, all of what gets remitted by the borrower goes back into the lenders' accounts.

    - After borrowers receive money back in their lending accounts on the platform, they can choose either to re-lend that money, or to withdraw it from the platform and not lend it again.


    Sometimes, some borrowers haven't understood well and think that they only have to remit the Net Disbursement amount and that that completes their obligation. That is not true (unless they cancel the loan very soon after receiving the Net Disbursement and before making any additional remittance which would begin paying the Fees they agreed to).

    The reason why should be clear now, but please let us know if it isn't.

    You also can read more information here:
    www.zidisha.org/forum-threa...

    And here:
    www.zidisha.org/forum-threa...

    • Volunteer Mentor
      Su Rono
      Grobogan, Indonesia

      Feb 5, 2018

      thank you for a complete and accurate laurie explanation ,, i think it would be great if the cost of registration (member life) is put on the cost list, of course for new members so they can also better understand and can review again about the pieces. , so it"s not just the 5% and mlf admin fees put there, Like the example below, the registration fee should be placed on the cost list.

      Translated by Google     Show original

      terima kasih untuk laurie penjelasan yang lengkap dan akurat ,, 
      saya pikir akan lebih bagus lagi jika biaya registrasi (member life) diletakkan di daftar cost, tentu untuk anggota baru sehingga mereka juga bisa lebih mengerti dan bisa mengulas kembali tentang potongannya. , jadi tidak hanya biaya administrasi 5% dan mlf yang diletakkan di sana, 


      Seperti contoh di bawah ini, biaya pendaftaran harus ditempatkan pada daftar biaya.


      • Feb 5, 2018

        I think this is a good idea. The main attraction of Zidisha for lenders is its low cost to borrowers, and so it is quite important to have complete cost transparency.

        • Lender since 23 Jan 2015... Staff Member since 26 Mar 2015
          Laurie
          United States

          Feb 5, 2018

          I agree! Borrowers *are* informed on their Dashboard, though, when taking out a loan, what exactly will be charged on the particular loan. The borrower is required to confirm acceptance of the terms, which includes what the fee or fees will be for that loan. That said, I do agree that all costs should reflect publicly, as well.

          Was a Membership Registration Fee charged on that particular loan, though, that's referenced above? Bastiaan, please send an email to my attention at "[email protected]", with a link to that particular loan page, and I will look at the borrower's account to find out. (I'm pretty sure that all costs would reflect publicly and, if not, there could be a technical error that needs to be reported to the Technical Team on that account.)

          Other information, about policies:
          www.zidisha.org/forum-threa...
          www.zidisha.org/forum-threa...


          Su Rono likes this.
    • Mimin Munawaroh
      Cilacap, Indonesia

      Feb 5, 2018

      Hi Laurie, thank you for your very detailed and complete explanation of the costs that exist in Zidisha.
      Hopefully many members read this explanation and can understand your explanation so that no more misunderstandings in the future about the charges imposed in Zidisha.

      Note: previously I have suggested to Dave that a thread that containing important information like this is given a "sticky" tag so it will always appear in the top row of each sub forum and can reducing the same questions in the future.

      Translated by Google     Show original

      Hi Laurie, thank you for your very detailed and complete explanation of the costs that exist in Zidisha.
      Hopefully many members read this explanation and can understand your explanation so that no more misunderstandings in the future about the charges imposed in Zidisha.

      Note: previously I have suggested to Dave that a thread that containing important information like this is given a "sticky" tag so it will always appear in the top row of each sub forum and can reducing the same questions in the future.


      Laurie and Joost like this.
    • Joseph Saaquah
      Accra, Ghana

      Feb 5, 2018

      Oh my God,Dear Laurie,you are back.thank God and welcome back.I missed you very much.it only yesterday that I was asking if there is any news about you.Good to have you here.
      Happy mood activated.


      Laurie likes this.
    • Martin Kimani Mwangi
      Bahati, Nakuru, Kenya

      Feb 6, 2018

      Thank you very much Laurie for your detailed and clear explanation regarding MFL. I raised the issue because when I tried to borrow a loan, which included MFL so as to raise my credit limit, it proved a bit difficult with some lenders requesting/suggesting that I rather stick to my credit limit, of which I obliged and got funded promptly after heeding the advice.
      My suggestion was whether a particular borrower can raise this MFL or you can opt to give it another term, if one wants to increase the credit limit depending of ones projected investment or foreseen initiative.
      Kind Regards,
      Martin


    • Feb 10, 2018

      So how long does it takeand what are the conditions involved for the refund of the MLF if a member wants it especially like these times when Zidisha is facing alot of challenges in fully funding the loans



  • Volunteer Mentor
    Isaac Moltuo
    Gwollu, Ghana

    Feb 5, 2018

    Please ,Laurie I appreciate your explanation of the issue at hand and I say thanks so much.
    Kindly help advice me on my loan application ,it is pending for publication.


    • Lender since 23 Jan 2015... Staff Member since 26 Mar 2015
      Laurie
      United States

      Feb 5, 2018

      Dear Isaac,

      You're welcome for the information.

      However, someone on the team approved your comments for publication, in error. Only the first sentence is acceptable to be posted in the Forum. What you submitted should have been declined and you should have been advised to re-submit a post for review, without the second sentence.

      Appeals to the Staff for help with specific a loan request, or administration of a specific loan, or anything having to do with any specific borrower account are not allowed in the Forum. (There is a drop-down box that appears for the Staff with a "Decline" option instructing individuals attempting to post such comments in the Forum *not* to send appeals to the Zidisha Staff in the Forum.)

      The Forum is intended for posting general information, general comments, and suggestions for the platform, but *not* for posting comments or questions about any specific borrower's Zidisha account.

      All issues pertaining to any specific borrower account are supposed to be sent in on a Support Ticket from the Help link on the borrower's Dashboard (except for log-in problems, of course, in which case an email is supposed to be sent in).

      I have only a few minutes right now, but when I have time, I will remind others on Staff of the rules that our Director has put in place for the Forum. In the meantime, I'm posting the information here so that at least maybe some will see it and will do the "Moderate Forum Comments" job properly.

      Please be patient for your loan application to be approved.

      Please see: www.zidisha.org/forum-threa...
      (Please scroll down in the long post to find information about the staff's work.)

      Please also see: www.zidisha.org/forum-threa...

      I do wish that the work could be done more quickly; however, to have the availability of staff, consistently, that that would take, would cost quite a lot. Then, Zidisha would be like other lending organizations, having to charge not just fees but *also* high interest rates.

      Zidisha, operating as it does, can afford to charge no interest (all Zidisha loans are offered at 0% interest rate). Zidisha charges only a 5% Service Fee, on most loans (the only exceptions being when the one-time, non-refundable Membership Registration Fee is charged; and when the refundable, one-deposit Members Loan Fund [MLF] Deposit Fee is charged).

      Thank you very much for your understanding and patience.


      Lawrence Antwi and Eri Nurhayat like this.

  • Volunteer Mentor
    Fitri Fauziyah Machmud
    Kota Surabaya, Indonesia

    Feb 6, 2018

    @Laurie and Bastiaan,
    this is what I'm trying to said to Laurie. Every Indonesian new member they will only get net disburse about IDR 5000 ($ 0.34) - 25000 ($1.95).

    When they applied for new loan, zidisha has showed to them 2 choice of loan option; 1 without MLF and the other with MLF. All choices has service fee and once a lifetime membership fee. The membership fee are IDR 150000 ($ 11.53). or IDR 300000 ($23.06). * note : $1= IDR 13000, this is only for comparation I don't know the exact rate Zidisha take for borrower disbursment. But what I know Zidisha always use lower currency. As I know for now $1= IDR 13600 from the news (6/2/2018).

    If the borrower choose MLF, the membership fee will put on the same coloum table with MLF, zidisha wrote it as the sum from MLF and membership fee. If the borrower choose loan amount without MLF, on the coloum Membership fee and MLF fund only wrote the amount of membership fee. I attach the pic. On that pic you'll see that the borrower applied a loan without MLF as the coloum of membership fee and MLF funds only IDR 150000.

    On the day the borrower agree to take the loan, on the cost section there are service fee and once a lifetime membership fee. But on the next day on the cost section only show service fee. Does that have anything to do with Laurie information that the once a lifetime membership intended for operating cost and now has change to a spesial reserve fund to reimburse partially lenders when the borrowers late? I don't know. That only my guess. I've asked zidisha from my ticket and they said that it was a bug and it has resolved.

    Please check this
    www.zidisha.org/loan/memula...

    You will find on his first loan cost section that it only show service fee but when you read his discussion page you will find that he have to pay once a lifetime membership fee IDR 300000

    Translated by Google     Show original

    @Laurie and Bastiaan,
    this is what I'm trying to said to Laurie. Every Indonesian new member they will only get net disburse about IDR 5000 ($ 0.34) - 25000 ($1.95).

    When they applied for new loan, zidisha has showed to them 2 choice of loan option; 1 without MLF and the other with MLF. All choices has service fee and once a lifetime membership fee. The membership fee are IDR 150000 ($ 11.53). or IDR 300000 ($23.06). * note : $1= IDR 13000, this is only for comparation I don't know the exact rate Zidisha take for borrower disbursment. But what I know Zidisha always use lower currency. As I know for now $1= IDR 13600 from the news (6/2/2018).

    If the borrower choose MLF, the membership fee will put on the same coloum table with MLF, zidisha wrote it as the sum from MLF and membership fee. If the borrower choose loan amount without MLF, on the coloum Membership fee and MLF fund only wrote the amount of membership fee. I attach the pic. On that pic you'll see that the borrower applied a loan without MLF as the coloum of membership fee and MLF funds only IDR 150000.

    On the day the borrower agree to take the loan, on the cost section there are service fee and once a lifetime membership fee. But on the next day on the cost section only show service fee. Does that have anything to do with Laurie information that the once a lifetime membership intended for operating cost and now has change to a spesial reserve fund to reimburse partially lenders when the borrowers late? I don't know. That only my guess. I've asked zidisha from my ticket and they said that it was a bug and it has resolved.

    Please check this
    www.zidisha.org/loan/memula...

    You will find on his first loan cost section that it only show service fee but when you read his discussion page you will find that he have to pay once a lifetime membership fee IDR 300000


    • Lender since 23 Jan 2015... Staff Member since 26 Mar 2015
      Laurie
      United States

      Feb 8, 2018

      Thank you for pointing this out, Fitri.

      I think that the Registration (Membership) Fee and the Members Loan Fund (MLF) Deposit Fee should appear separately in the "Your Loan Progression" table, *and* that the screen where the "Show Cost Details" link is should show a breakdown of everything.

      However, I think I understand why the other two fees are not shown along with the information about the 5% Service Fee when that link is expanded. I think it's because "Show Cost Details" is only for that particular loan (of course).

      The 5% Service Fee is the only fee that is charged on *each* loan.

      The Membership Registration Fee is the cost for the privilege of taking out *ALL* Zidisha loans that the borrower ever takes out, at 0% interest rate, and the Members Loan Fund (MLF) Deposit Fee is the cost of "insurance" for any borrower defaulting on *ANY* loan at any time.

      So, the total cost of each loan changes the more loans are taken out, over time.

      What you have to do is you have to divide the cost of the Membership Registration Fee, and the cost of the Members Loan Fund (MLF) Deposit Fee by the number of loans taken out, and add that to the 5% Service Fee, to arrive at the per-loan cost of a particular loan at any given time.

      The Membership Registration Fee (an "entitlement" fee), and the MLF Deposit Fee (an "insurance" fee), obviously are expensive at first, but those fees become a better and better deal the more loans a borrower takes out, over time.

      That said, I do think those two fees should be mentioned in the public view, on the same screen where the "Show Cost Details" link is (but not actually in the same spot as the 5% Service Fee which appears when the link is expanded), and with an explanation about those fees, similar to what I mentioned above.

      I think it all used to appear. Maybe it's a technical error that it doesn't all appear on some accounts? When you see an account on which all fees you know were charged do not appear, please send in a Support Ticket (or an email if you do not have access to Support Tickets) so that our Technical Team could investigate. Please be sure to attach screenshots! :-)



  • Volunteer Mentor
    Fitri Fauziyah Machmud
    Kota Surabaya, Indonesia

    Feb 8, 2018

    I have suggested with my ticket that zidisha need to show for public on the cost section for 'the first loan of new borrower' that there is once a lifetime membership fee there like it used to before. It is for zidisha benefit, borrowers and for lenders information.
    It is great help for me with your information about the changed function for membership fund for special funds to partially reimburse lenders money when it's borrowers late. I can explain more about the change in membership fund.

    It's OK in my opinion if zidisha put the MLF funds and membership fee in one place in the table of loan progression of every borrowers. But please put the information about the membership fee again on the cost section on 'the first loan of new borrower'. Anyone who registered to zidisha before 2017 will know that there are membership fee, and we paid it on the first loan. I paid the membership fee, and you can see it on my first loan cost detail.

    I understand that the membership fee now more higher then before. I think Julia have take many input for finalizing that decision. In my opinion if the borrower registering zidisha with their real identity, their membership fee will not quite different from mine, still more higher than mine but not too much. There are 2 amount membership fee fund, this is I know from Indonesian borrower post in here and from facebook grup. I don't know for others country. and I have assumption why there is two amount of it.
    It is sad to see when borrowers late and lenders upset with that. I've found in one of facebook grup, there is a lender expressing his dissapointment with his borrowers whose late and choose to do what Jan de Wit do. As a borrower and as VM it makes me felt guilty that we who get your support and your trust can't help more when other borrowers failed to honour lenders trust to them
    I'm so sorry. Please note that your trust is priceless, I'm honour to have your trust in me and I've know many honour and keep their lenders and Zidisha faith in them.

    Translated by Google     Show original

    I have suggested with my ticket that zidisha need to show for public on the cost section for 'the first loan of new borrower' that there is once a lifetime membership fee there like it used to before. It is for zidisha benefit, borrowers and for lenders information.
    It is great help for me with your information about the changed function for membership fund for special funds to partially reimburse lenders money when it's borrowers late. I can explain more about the change in membership fund.

    It's OK in my opinion if zidisha put the MLF funds and membership fee in one place in the table of loan progression of every borrowers. But please put the information about the membership fee again on the cost section on 'the first loan of new borrower'. Anyone who registered to zidisha before 2017 will know that there are membership fee, and we paid it on the first loan. I paid the membership fee, and you can see it on my first loan cost detail.

    I understand that the membership fee now more higher then before. I think Julia have take many input for finalizing that decision. In my opinion if the borrower registering zidisha with their real identity, their membership fee will not quite different from mine, still more higher than mine but not too much. There are 2 amount membership fee fund, this is I know from Indonesian borrower post in here and from facebook grup. I don't know for others country. and I have assumption why there is two amount of it.
    It is sad to see when borrowers late and lenders upset with that. I've found in one of facebook grup, there is a lender expressing his dissapointment with his borrowers whose late and choose to do what Jan de Wit do. As a borrower and as VM it makes me felt guilty that we who get your support and your trust can't help more when other borrowers failed to honour lenders trust to them
    I'm so sorry. Please note that your trust is priceless, I'm honour to have your trust in me and I've know many honour and keep their lenders and Zidisha faith in them.


  • Martin Kimani Mwangi
    Bahati, Nakuru, Kenya

    Feb 8, 2018

    My suggestion is that this MFL be paid directly by any member who prefers to raise the credit limit to whatever level. I really found it rather awkward when lenders discouraged me from dropping the MFL and instead stick to my progressive credit limit. Is it possible to make it a personal choice instead of making it part of the solicited loan, kindly?



  • Lender since 23 Jan 2015... Staff Member since 26 Mar 2015
    Laurie
    United States

    Feb 8, 2018

    www.zidisha.org/forum-threa... (edited)

    My preference would be for the MLF Deposit Fee not to have to exist. That only could be the case, though, if no borrowers ever defaulted.

    That unfortunately not being the case, my personal preference about the MLF would be for it to be paid ahead of time by anyone who is able to do that and who wants to raise the credit limit faster. It's my understanding that this actually is what is required of higher-risk borrowers, that they have to pay the MLF Deposit Fee, in full--(in installments, over time)--before they can raise a first loan. I think that should be an option for normal-risk borrowers, too, instead of deducting it from the principal.

    I know the idea is that it's easier to pay it in installments, but it causes so much confusion, misunderstanding, and anger among borrowers, that I personally think it maybe isn't worth it to do it like that. Also, paying it ahead of time, before taking out a loan, can be and usually is paid in installments. And considering that the net disbursement isn't even enough to buy a cup of coffee in many cases, it really seems it would be better just to require the MLF to be paid up front... the Membership Registration Fee, too, in cases when that also is a large fee. There used to be a chart (in the FAQs, I think) showing how much the Membership Registration Fee is in each country. I think that should be re-posted, as well as the reasoning about why it's more in some countries than in others.

    I also would prefer for the MLF Deposit Fee not to be refundable, unless the borrower is going to leave the platform permanently, whether voluntarily or because of a violation of Zidisha's terms and conditions. I think that could cut down on a lot of work on our end, and on a lot of confusion on the borrowers' end. Currently, as you know, it is refundable anytime there is nothing owed on the borrower's account, but then the next time a loan is taken out, a deposit has to go back into the MLF, which again results in a low net disbursement, and sometimes an angry borrower who didn't understand well about the way it works. (There's no doubt that it's confusing to many people, at least at first, and even to newbie staff members sometimes, too.)

    Just my opinion. :)


    Fitri Fauziyah Machmud and Joost like this.
    • Volunteer Mentor
      Fitri Fauziyah Machmud
      Kota Surabaya, Indonesia

      Feb 9, 2018

      Btw, how you make the link that send me directly to your edited reply. I forgot what you wrote before. I'm in blank state right now, Too much sun and heat today. The water master works perfectly. :)

      If it the case with new borrower who get angry, it is a result of their haste to agree to take the loan without understanding the meaning of the agreement their first loan even though Zidisha has informed them and ask them to re-write their agreement to take the loan. I'm sorry I've no idea to suggest you more about it. Have you read Joost suggestion?

      Why not put the rule again that every borrower will make MLF deposit, if it not on the first loan then it will be on the second or so on.
      I've made it on my first, as on that time there is only one choice of loan; a loan with MLF. And back then if we asking MLF refund, we will ask to deposit MLF again on our next loan then.

      What about the credit risk? I've seen it on few zidisha members loan. One member I saw that she had the credit risk on almost her loan. Does the credit risk go to special funds to reimburse lender too?

      I think anyone who take a loan on the second or third and so on is understand very well the meaning of
      loan with MLF.

      There are still many members even VM whose loan payment in lower amount that when you count their repayment it will take more then 5 years.
      I've notice 2 Indonesian borrowers. 4 VM from Indonesia and 1 vm from others country. If you check their about page and repayment page, you'll see that their payment just in few month but if you count from the amount installment they take, their loan will fully repaid takes more then ten year. Do I need to make ticket to inform you about it? I don't know does it a bug that made their about and repayment page think that these borrowers will fully repaid in just few month.
      Thanks for the information Laurie.

      Translated by Google     Show original

      Btw, how you make the link that send me directly to your edited reply. I forgot what you wrote before. I'm in blank state right now, Too much sun and heat today. The water master works perfectly. :)

      If it the case with new borrower who get angry, it is a result of their haste to agree to take the loan without understanding the meaning of the agreement their first loan even though Zidisha has informed them and ask them to re-write their agreement to take the loan. I'm sorry I've no idea to suggest you more about it. Have you read Joost suggestion?

      Why not put the rule again that every borrower will make MLF deposit, if it not on the first loan then it will be on the second or so on.
      I've made it on my first, as on that time there is only one choice of loan; a loan with MLF. And back then if we asking MLF refund, we will ask to deposit MLF again on our next loan then.

      What about the credit risk? I've seen it on few zidisha members loan. One member I saw that she had the credit risk on almost her loan. Does the credit risk go to special funds to reimburse lender too?

      I think anyone who take a loan on the second or third and so on is understand very well the meaning of
      loan with MLF.

      There are still many members even VM whose loan payment in lower amount that when you count their repayment it will take more then 5 years.
      I've notice 2 Indonesian borrowers. 4 VM from Indonesia and 1 vm from others country. If you check their about page and repayment page, you'll see that their payment just in few month but if you count from the amount installment they take, their loan will fully repaid takes more then ten year. Do I need to make ticket to inform you about it? I don't know does it a bug that made their about and repayment page think that these borrowers will fully repaid in just few month.
      Thanks for the information Laurie.


      Joost likes this.
      • Lender since 23 Jan 2015... Staff Member since 26 Mar 2015
        Laurie
        United States

        Feb 9, 2018

        I'm sorry, Fitri, I can't reply to all of it now. Yes, though, if you see any that would take more than 5 years to pay, you should send in a Support Ticket, so our Technical Team can take a look at those accounts.

        Joost has lots of good ideas, yes. :)

        Also, did you see his post, Fitri, dated Feb 8, 2017, here:
        www.zidisha.org/forum-threa...
        Each one of the fees that the borrower pays *is* shown there, just like in the past (see the images that Joost attached).
        So, I think that if there are loans that don't publicly show the Membership Registration Fee or the Members Loan Fund (MLF) Deposit Fee, then probably a Support Ticket needs to be created for those, too, for the Technical Team to look into...


        Fitri Fauziyah Machmud and Joost like this.
      • Volunteer Mentor
        Fitri Fauziyah Machmud
        Kota Surabaya, Indonesia

        Feb 9, 2018

        I've made ticket about it but it still doesn't change until now. I'll report it again about it and my information that I share to you in this forum.
        No worry, I know your speciality, your duties country.

        Yes, I've read Joost thread and I've check the link he had provide last night. He has erased the link and give the screenshot of the account.

        Thank you for coming out in this forum ;)

        Translated by Google     Show original

        I've made ticket about it but it still doesn't change until now. I'll report it again about it and my information that I share to you in this forum.
        No worry, I know your speciality, your duties country.

        Yes, I've read Joost thread and I've check the link he had provide last night. He has erased the link and give the screenshot of the account.

        Thank you for coming out in this forum ;)


        Laurie and Joost like this.
        • Lender since 23 Jan 2015... Staff Member since 26 Mar 2015
          Laurie
          United States

          Feb 9, 2018

          RE: "I've made [a] ticket about it, but it still doesn't change..."
          Please remember about the enormous workload of the very small staff relative to the number of borrowers sending in Support Tickets, and lenders and others from the general public sending in emails.
          Patience is required. :-)


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