Dear all, I'd like to share this overview of trends in financial sustainability at Zidisha: https://www.zidisha.org/forum/threads/trends-in-financial-sustainability-of-zidisha-loans.1034/ I understand that many of you experienced much higher than expected write-off rates for loans made through Zidisha. I'd like to do my best to explain why. Historical repayment rates necessarily include only data on loans that have ended. At Zidisha in early 2013, most ended loans had been issued far earlier, in early 2012 or before. Our loan volume in early 2012 was so small that we were able to closely supervise each individual loan. Thanks to this close individual supervision, the repayment rate for loans issued in our earliest days remained above 98%. During the second half of 2012, we experienced a growth surge. Thousands of loans began to be funded, and we lost the ability to interact personally with each borrower. For this reason, the write-off rate for loans issued in late 2012 and early 2013 ended up being unexpectedly higher than for earlier loans. By spring 2013 it had become clear that credit risk had increased, and we made a series of changes to improve credit risk at the higher volumes at which we were now lending. The changes we made, and the resulting improvement in on-time repayment rates, are described in the article linked above. I understand if those of you who experienced high write-off rates opt not to return to Zidisha. At the same time, I think a case can be made for giving our platform a second chance, perhaps by lending a dollar each to a few different entrepreneurs at an interest rate you consider fair. If the loans perform to your satisfaction, you may then consider continuing to lend through Zidisha. Either way, I'd be happy to respond to questions and comments here.