At Tuesday’s meeting, our club Kiva loan co-ordinator Patrick Gibson, told us that our club currently has about fifteen thousand American dollars out on loan through our Microfinance Program. This program makes small interest free loans of twenty five dollars or more to owners of small businesses in third world countries who would otherwise not qualify for business loans. They are expected to repay the loans, and once they do, the money is then loaned out again to someone else. He said that he is very proud of how well the small business owners that we have loaned money to in the past have done with repaying their loans and showed us a graph of how well they have done, with very few loans in default.