Total disbursement on the MYC4 platform made it past the 15.5 million euro mark today as 50-year-old Josephine from Kenya received a loan of 486 euro. The funds will be used to buy a dairy cow.
Josephine started dairy keeping back 22 years ago when her husband bought her the cows to make her be self employed and also at the same time supplement his incomes to be able to educate their 6 children.
All the best to Josephine and the other 1,774 MYC4 borrowers who are currently repaying their loans!
Pssst! Here is another number to celebrate: for the first time in a couple of years, the number of open loans on the platform is above 150. There are now plenty of opportunities to choose from – the smallest loan today is for instance €146 to All Botique in Tanzania while the largest is €11,111 to Stephen Karanja in Kenya. Happy bidding!
Nice to read. I’m curious as to how much “available capital” MYC4 currently contains, i.e. how much do investors currently have sitting idle on their accounts (since these funds are needed to fund open loans).
Hi Claus,
Thank you for your question. The MYC4 investor account balance is around 1,000,000 Euro at the moment; sadly a lot of the money is “sitting” in dormant accounts, which is also why we have implemented the inactive fee.
Cheers Karl
Indeed – very sad. 1,000,000 Euro is “5 months of disbursement”. I see a point in the “inactive fee”.
I’m sure you have had the thought of “data-mining” the account balance to see whether it could be worthwhile to contact investors (by email) who haven’t been active for say 6 months and offering them help to setup e.g. automated bids … ?
And currently there is above 200 open loans.