Excited About The Future

First off I would like to apologize for neglecting this blog. The past few months have been a bit hectic here in Cambodia. At one point I was working 12-hour days, seven days a week, so I had to put Ahkun on the back burner just for a bit.

But I recently took some time off and went home. While I was there I had a chance to recharge and get back on track, so let me update you guys on what’s going on!

In the next six months we’re planning on:

• Having 10 businesses on the site – a business can consist of a single entrepreneur or a village working together
• Working with each business to make a better quality product – for example having Kakeda Sun start using 100% cotton, instead of a synthetic blend.
• Becoming a registered non-profit
• Shipping all the goods to New York

We’ve also changed the way the proceeds are being divided:

• 25% will go to the lender – a payment will be paid when the goods are delivered to Ahkun and a second when the goods are bought
• 25% will go to the MFI to support one of their “beyond microfinance” causes. Many MFIs have programs that do much more than just provide financial services. Unfortunately their margins are already pretty slim, so these programs often require outside financial help to get them started. AMK, our first partner, will use their proceeds to fund their new Special Interest Groups Unit (SIGU) which looks to provide financial services  and business training to vulnerable groups in Cambodia. They will
• 25% will go to Kiva – for being awesome
• 25% will be reinvested back into Ahkun

Also, we have some very exciting news:

• AMK is going to purchase the goods upfront from their clients on the site. THIS IS HUGE. Our biggest barrier for growth was capital to purchase goods, but AMK and their CEO, Paul Luchtenburg, have been very supportive of this project and they really want to see it grow!
• Kiva is going to feature Ahkun in one of their newsletters which goes out to all of their Kiva lenders. THIS IS ALSO HUGE. Kiva has over 550,000 lenders and we’re hoping that those who lent on Kiva, will also want to support these entrepreneurs by buying their products!

Anyone who’s seen me in the past few weeks knows that I’m really excited about this!! VERY EXCITED! I will use this blog to update you as all the pieces fall into place. If you aren’t already following us, use any (or all) of these tools:

• Twitter
• Facebook
• Ahkun Kiva Lending Team

Thanks again for all of your support!!!

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