Oct 21, 2018
When a loan goes unpaid for a certain amount of time, the lender is given the option of "Receive Advance Repayment". This is good but I was wondering if it would be possible to offer another solution, such as marking the loan "forgiven" , I have only been involved for a few months but my experience with human nature leads me to believe that after a certain amount of time it is not unreasonable to conclude that the loan will not be repaid. I considered the money I put in as a donation at the begining< I am not expecting any return on my investment other than helping people who are in need. Marking a loan "forgiven" in you system might help clear your books, and if the monies were repaid at some future time it could be placed in an operational fund to help with the expenses incurred by Zidisha operations. Just an idea, probably much more complicated than it seems but thought I would mention it.......
Christian Golo, Su Rono, S. E., Deryl Wesonga, Michael Yesufu and Kelvin Malambo like this.
Oct 22, 2018
For small amounts, I adopt your way - it was a loan that I am not expecting to be repaid at all. For larger amounts, I have used the 'Receive Advance Repayment' option - only to loan it out to some other worthy applicant! Such advance repayment comes from a fund that has been built for this purpose. Putting it to use for someone other gives other person a chance as well.
(I wish the time period since the loan has been made is displayed right next to loan, like it was being done earlier. I now have to open each one to decide that really long time has passed and I want to recirculate the fund.)
Julie, Katie and Kelvin Malambo like this.
Oct 23, 2018
If a borrower is making an attempt, I'll usually let it ride. As long as he is communicating ("hey, I was in the hospital" or "business is bad and I need to adjust to pennies on the dollar for now"), it's all good. However, some simply abandon the loan. In those cases, the money repaid from Advance Payment can then be relent to others who are more faithful.
Jan de Wit, Fitri Fauziyah, Will, Joost, Eric Takyi Ansu, Joshi, Katie, Kelvin Malambo and Joshua Shuajo like this.
Feb 23, 2019
I have found despite using the option for 'Early Repayment' in Settings it doesn't seem to work. ("I would like to receive an early repayment from the Zidisha Members Loan Fund whenever one of my loans falls 60 days past due.")
For example, I have a loan I made nearly 2 years ago which only got 4% repaid and is way behind payment (www.zidisha.org/loan/expand...). Despite having the 'Early Repayment' option on for the last year, this loan is still stuck and I have to manually choose to Receive Advance Repayment.
Ultimately this disadvantages other lenders, as those who cannot repay are impacting others who can - and my lent money is tied up.
Kelvin Malambo likes this.
Mar 4, 2019
Am asking for an advance pay
Mar 17, 2019
Honestly lenders l had my first visit of my fiance in nyandurua so the amount given by you lenders l spent it to the event, instead of injecting to equity agency, And still there is still the main dowry which will be coming in the month of May and l need finances for the event. l was requesting lenders if l could be given two months so that l begin paying back the loan. For now am badly off. Thank you.
Mar 19, 2019
Repayments are made in weekly installments. You may choose your own preferred amount to repay each week, and your own preferred day of the week on which repayments will fall due.you can also adjust your installments after you have paid first installment.Thank you
Peggy Rose Appiah
Mar 19, 2019
If I really understand what you are trying to say here, you are saying you have spent your Zidisha loan on your fiance, in paying her bride price? But in your loan proposal you indicated "Moving my business to higher level" which I believe would help you earn regular income that can help you marry, and take care of your family for a lifetime.
I will leave you with this short wise saying. “You give a poor man a fish and you feed him for a day. You teach him to fish and you give him an occupation that will feed him for a lifetime.” (Chinese proverb.)
Deryl Wesonga, Kelvin Malambo, Joseph Ochonu, Benard Bonyo and Benjamin Pappoe like this.
Oct 8, 2019
paying for a bride price is disgusting when you are supposed to be earning money to pay back the kind people who lend out of their heart. Only a very bad person would lie and cheat these honest kind lenders who give money without taking any profits.
Christian Golo and Kelvin Malambo like this.
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