Welcome to this report on the 2nd Quarter of 2020 showing Monarch’s continued commitment alongside Kiva.org in providing micro loans to individuals and community groups in developing countries for investment in education, agriculture, women in business, shelter and more.
Every month, a round of donations is made with funds from previous loans that are steadily repaid through Kiva’s system and from a monthly automatic contribution from the School itself. Monarch Students and Faculty can be proud that the loans made are making a difference especially during a time that is presenting challenges for so many. So far, Monarch has made over 186 loans to 65 of the 75 countries that Kiva services.
Loan repayments have slowed slightly during this time which is understandable and that has affected our ability to redistribute funds. However, we are still very active and have loaned ten times more than the average Kiva lender to 65 of the possible 75 registered countries.