For this final assignment, you will be evaluating the loan you have decided to fund: Summarize the objective of the loan in your own words Evaluate the terms of the loan: How much money is the borro
Running head: KIVA LOANS 0
INTERNATIONAL ECONOMICS PROBLEMS
Student’s name
Institutional affiliation
Course
Date
KIVA LOAN
Kiva will give a loan to cater for the health of the elderly and disadvantaged Americans during this period of Covid-19. The devastating effects of the Covid-19 have led to the lack of disposable income to the majority of the American society. Thus, Kiva is giving out a loan of $ 500 to Evolution Health Education LLB that will lend out to the elderly Americans needing to purchase their medical insurance. Mostly, financial institutions have given much importance to the quantitative aspects of their financial status at the expense of the social good, an incident that Kiva seeks to address ( Mendelson & Shen,2019). Evolution of health education LLB.The filed partner, Bethany under the social institution of the Evolution health education, has an impressive reputation of helping the elderly and those living with disabilities in the community. For the better part of this decade, she has actively trained individuals in providing quality care in the community by providing nursing education to them. The loan will, therefore, help Bethany and the foundation to not only reach the needy black women but also strengthen her efforts to reach the vulnerable community due to the impacts of Covid-19. The mission of Evolution health education
Most health institutions exist in a mission to provide basic nursing essentials like home health assistants, care, assistants, nurse aides, and medication aides in Ohio (Harker, 2017). The mission for the existence of evolution health education is to ensure that the community is provided with nursing education and medical insurance for the elderly. Bethany has direct experience with the condition of the people in northeastern Ohio and has been providing education in the region for a great time. Under the support of Kiva loan, Bethany can, therefore, be able to build a permanent residence to train professionals, and give directly to the society.
Period of existence
Having been in the institution for form than five years, Bethany and Evolution health have recorded tremendous improvements over time. Initially, the provided just direct service to the community through nursing education but have now advanced to provide a more detailed assistant like loans to black women businesses and health cover to the less advantaged class. Kiva has noted a positive change and commitment in the community service by the Bethany led institution and can harmoniously lead the loan of $500 to the institution, which will facilitate the well-being of the elderly women's health, business, and calm the severity of Covid-19 effects.
Risking rates, delinquency, and loans at risk
Evolution health has an unrated risk. The institution lends for an approximate 30 month repayment period for the loans given out. The funding model is fixed, which means that the amount is disbursed fully after being funded by Kiva. The institution does not charge interest to borrowers. No trustee is actually needed to endorse the loans given out. Additionally, the repayment rate for the institution is awesome at a rate of 74% for the total loans given out. Cumulatively, the Evolution partner has given out loans amounting to $30,303,825 to a total of over 6,604 customers for the past five years only. Out of the 6,604 clients, only 912 have defaulted on paying their loans, meaning the default rate is so low and that Evolution health screens out the need and performance well before giving out loans. However, the current payments may be delayed or lower than expected to the effects of the Covid-19. Evolution is a non-profit organization that does not charge any interest or penalties on loans given out to members.
Comparison with other field partners.
Comparatively, Evolution health is operating at industry standards. The total income made in the industry is $48,500.Out of the $105,921,250 total made, the institution has lent $ 30,302,825, which is almost 30% of the total loans made. The total contributing lenders are 111, and out of this, Evolution health alone has raised 26 % of the total loans.
References
Harker, M. (2017). History of nursing education evolution Mildred Montag. Teaching and Learning in Nursing, 12(4), 295-297.
Mendelson, H., & Shen, Y. (2019). Quantity Vs. Quality in Online Marketplaces: The Case of Kiva. In Information Technology for Management: Current Research and Future Directions (pp. 76- 91). Springer, Cham.
