Credit limit can no longer increase with bulk loan repayments

Discussion in 'Announcements' started by Julia Kurnia, Feb 14, 2014.

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  1. Julia Kurnia

    Julia Kurnia Director, Zidisha Zidisha Staff

    Thanks for bringing this up. I realized that my original post was unclear, and have edited it to include the following precision:

    "Large installment" is currently defined as any repayment of over 30% of the loan and over $100. We may adjust this definition as we gain experience, in order to achieve the intended result of entrusting large amounts only to members who have established a track record of consistent on-time repayments over time.​

    In the case you highlighted, the original loan was too small to qualify as a "large installment." The intent of the rule is to protect the community from the risk posed by awarding very large amounts to members who do not yet have strong track records, without unduly restricting the ability of new members to progress to amounts substantial enough to have a real impact on their lives.
     
    tony, Joyce Njeru and Shehi like this.
  2. ginah

    ginah Gold Member

    what a touching story...its good to give hope and encouragement to people.its a unfortunate most people go in and out of barbershops and salons without even asking the people who work their how they are doing.keep up the good work and i hope your barber will enjoy the zidisha services like i do
     
  3. SAYADOUNE MAHAMADOU

    SAYADOUNE MAHAMADOU Forum Member

    Bonjour julia c'est vraiment une bonne chose cette initiative que vous venez de prendre puisque sa permet aux nouveaux invité de beneficié de prét à haut debut.c'est vraiment bien.Mais moi pour mon cas j'ai un probleme avec mes nouveaux menbres invité puisqu'ils m'ont dit qu'ils peuvent pas postuler maintena puisque ce sont des etudiants à la fac et que j'ai vu que la limite de mon crédit est vraiment bas donc je demande à ce qu'on m'annule ses membres que j'ai eu à inviter puisque ils ne vont postuler et que moi aussi j'aimerais rembourser l'ensenble de mon prét dans pour pouvoir faire un autre demande,puisque au debut avant les invitation mon debut de credit que je doit avoir si je voulais faire une nouvelle demande etait à 149.000 XOF mais maintena il est à 41.000 XOF donc il faut m'annuler les invitation pour que le debut revient à 149.000XOF puisque j'aimerais faire une nouvelle demande dans ce mois.Bonne comprehension.Merci.
     
  4. ginah

    ginah Gold Member

    sayadoune..wish i could understand what u have written.anyone who can interpret i will really appreciate
     
  5. KirstenShute

    KirstenShute Gold Member

    It is something like this: "Hello, Julia, this initiative you have taken is very good, since its allows new invites to benefit from the loan right from the beginning. This is really good. But in my case, I have a problem with my new members invited since they told me they can't apply now since they are students in college, and I saw that my credit limit is really low, so am wondering if it is because those members I invited didn't apply. Also, I myself want to repay the rest of my loan in order to make another request, since at the beginning before I sent any invites the credit I would have for a second loan was 149,000 XOF but now it is 41,000 XOF. So I must cancel my invitations to return to the beginning 149.000 XOF, since I want to make a new application this month. I hope you understand. Thank you."

    But as far as I understand, I don't think borrowers' credit limit is lowered if they invite people to Zidisha who don't end up applying.
     
    ginah likes this.
  6. Jean Wendpanga

    Jean Wendpanga Gold Member Volunteer Mentor


    Bonsoir Julia

    Je pense que $100 peut etre considéré comme un grand versement si l'emprunteur a pris un prêt de moins de $300 (petit prêt) , mais au cas où ce dernier a pris un prêt de plus de $1000, pense tu que $100 soit un grand versement? Es que les emprunteurs du BF peuvent faire des versements par semaine comme au Kenya malgré que le calendrier de remboursement soit par mois? J'ai vu des emprunteurs du kenya qui remboursent par semaine un montant de plus de $70, dans ce cas es que leurs limites de crédit vont augmenter s'ils finissent de tout rembourser leurs prets? Merci

    KABORE
    VM Burkina-Faso
     
  7. qt9998

    qt9998 Gold Member

    Translation:

    Good evening Julia,

    I think that $100 can be considered a large payment if the borrower took out a loan of less than $300 (small loan), but in the case where the borrower took out a loan of more than $1000, do you think $100 is a large payment?
    Can borrowers in Burkina Faso make payments weekly like in Kenya despite the fact that the repayment calendar is monthly? I have seen borrowers in Kenya who repay weekly an amount of more than $70, in which case will
    their credit limit increase if they finish repaying entirely their loans? Thank you
     
  8. Shehi

    Shehi Gold Member Volunteer Mentor

    Thanks @qt9998 for the strictly-english us. Appreciated.
     
  9. Jean Wendpanga

    Jean Wendpanga Gold Member Volunteer Mentor

    S'il vous plait chère Julia, repondez à ma préoccupation. Merci d'avance

    KABORE
    VM Burkina-Faso
     
  10. Jeremi

    Jeremi Silver Member Volunteer Mentor

    I rescheduled my loan and paid slightly higher than $100 it's now a month and one week now my base credit limit is still at the last amount that i took.
     
    Shehi likes this.
  11. ginah

    ginah Gold Member

    thanks for the translation,i really do appreciate
     
  12. John Macharia

    John Macharia Gold Member Volunteer Mentor

    but terms and condition must apply.every company has its own way of doing this they don't just do it
     
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