New limitation on borrower invite volume

Discussion in 'Announcements' started by Julia Kurnia, May 16, 2014.

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  1. Julia Kurnia

    Julia Kurnia Director, Zidisha Zidisha Staff

    Starting today, borrowers may issue no more than three new member invites at a time. Once three invites are sent, the inviting member must wait until the new invitees begin depositing repayments to invite more.

    Each time an invited member makes his or her first repayment installment, a space will open up for the inviting member to issue a new invite, as long as the inviting member continues to fulfill the invite program eligibility criteria: the inviting member must maintain a 95% on-time repayment rate, and at least 90% of his or her invitees must maintain a 95% on-time repayment rate.

    In the event that an invited member chooses not to accept the invite or to raise a loan, the inviting member may cancel the invite to make space for new invited members.

    This measure is intended to encourage inviting members to exercise care in choosing whom to invite, as the number of invite spaces available at a given time are limited, and the repayment performance of invited members affects the inviting member's ability to invite more in the future.
     
    Last edited: May 16, 2014
    KirstenShute, Evelyn, jmbogo and 3 others like this.
  2. jmbogo

    jmbogo Forum Member

    @Julia Kurnia, that sounds like a good strategy, but there are frustration to some new borrowers who after posting their applications, they wait for more than a week to get response and they start to wonder if there is something wrong with their applications. And i case they are required to add more information to their profiles, the time to review their accounts take even more time. What can be done to save new comers from such a frustration?
     
    Evelyn likes this.
  3. Shehi

    Shehi Gold Member Volunteer Mentor

    Thanks to this update, I will now remove earlier invitees who i believe may not become faithful borrowers afterall.
     
    Evelyn likes this.
  4. Ndungu

    Ndungu Gold Member Volunteer Mentor

    A good move.
     
    Evelyn likes this.
  5. Patrick

    Patrick Forum Member Volunteer Mentor

    That is a good move @ sheshi I will also remove some to create room for other worthwhile borrowers
     
    Evelyn likes this.
  6. Bayle C

    Bayle C Gold Member Zidisha Volunteer

    Hi Jmbogo,

    Thanks for sharing your concerns. We have had a huge number of applications lately, which is why review times are longer. To help with this surge in applications, we are adjusting other duties for our more experienced volunteers so they can join the application review team. I hope that soon we will be back to a quicker response time for applicants.

    Thanks!
    Bayle, Zidisha Intern
     
    jmbogo and Evelyn like this.
  7. ginah

    ginah Gold Member

    what happens if all your invited members are people with a good track of repaying and its people you know.all my invited memebers are either family or workmates.i monitor their repayments on weekly basis and even remind them if they have forgotten to repay.
     
  8. Miriam Frost

    Miriam Frost Forum Member

    Hi ginah,

    You are limited to inviting three members at first, but once one of your invited members makes his or her first repayment installment, the invite slot opens up and you may invite another member. Over time you have the option to invite more members as your invited members repay.

    Miriam
     
  9. ginah

    ginah Gold Member

    thanks so much miriam for that information.regards
     
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