WOKAI

Wokai has been actively searching for a new CEO to take the organization to the next level in China. However, as of our application deadline, no clear candidate came to the fore. In addition, we have met unexpected funding road blocks, which have left us without the reserves necessary to extend the search further... Considering Wokai's current situation, our Board of Directors has unanimously decided to take the resources that we currently have and wind down Wokai's operations. This approach will ensure that all of the resources that we have built up are used to continue our mission of growing microfinance in China... Over the last 5 years since starting Wokai and 3.5 years since the launch of our website, our team and global supporter community has raised over $450,000 dollars in loan capital for micro-entrepreneurs living under the poverty line in China. We've worked together to fund over 1,500 micro-loans to 961 borrowers, all at an over 98% on-time repayment rate. When you take..