Last December, Peter Tal’at became our first partner to pay back his loan in full! We bring you his success story as the symbolic first fruit of many successful partners that we hope will fulfill their commitment to KV. This is how Peter and eventually all of our partners will pay it forward, since their loan repayment will go to fund another member of their community. 

 

Peter had a small stationary store, and he received a loan in October 2018 to buy a black and white copy/printing machine which he needed to keep up the demand for his services. He also wanted to buy paper in bulk to increase his margins by bringing down his costs. With the increased revenue he was able to pay back his 24,000 L.E. loan in just 12 months. 

 

In general we try to keep the loan repayments to the shortest period possible, so that your donated funds are able to get a quick turnaround and fund another partner. Also, since we do not charge any interest, the longer the business partner holds on to the money, the less value the money has when it returns. Most partners are not able to pay back their loans back in one year, which is why it is so remarkable that even though Peter is one of the later partners to be funded, he was the first one to repay his loan. We look forward to receiving the calculations he is currently making to evaluate the profitability of upgrading to a color copier!

 

We are so proud of Peter as our first alumnus and his encouraging example to all of our active business partners. We eagerly anticipate the day we can report to you that more and more partners have repaid their loan in full. Stay tuned for some exciting announcements next month on how we hope to expand our message of Empowering Opportunity Through Fellowship!