Monday, January 21, 2008

Three new KIVA loans

Recycling repayments from loans back into the system. This way, membership subscriptions will continue to support new business opportunities long after the initial $25 contribution. If you would like to help, please subscribe to my newsletter and your first month payment (after the 30-day free trial has expired) will be routed to a KIVA project of your choice.

The three new loans are as follows:

[1] Nansana 7/8 2037 (C) Group: Betty is a widow with five children. She sells fresh food in the market. She wants to pay school fees for the children and buy food with the business profits.

[2] Leonarda Laura Sulca's Group: Leonarda, Petronila, and Ana Maria have been members of the community bank Arco Iris for 6, 3, and 5 years respectively. In their community bank they have learned to be punctual and responsible, to save, to run their business, to avoid getting sick, and to respect other people.

Leonarda is 36 years old. She is married and has three children, who are 13, 10, and 8. She travels to different markets two times per week and buys grains and cheeses, which she sells at the Grau Market in Ayacucho and also door-to-door. She has had this business for six years.

On the other hand, Petronila is 54 years old. She is a widow and has nine children, only one of whom lives with her. She has been selling groceries from her home for the past three years. Furthermore, Petronila, together with her son, makes weavings. They sell beautiful tapestries and rugs at the Santa Clara market in Ayacucho.

Ana Maria is 36 years old. She is married and has two children, who are 17 and 9. She has a small grocery store which she started six years ago with very little capital but which has continued to grow little by little.

Leonarda, Petronila, and Ana Maria need loans of 1600, 600, and 1000 soles, which they will invest in buying wheat, oatmeal, cornmeal, quinoa, and other local types of flour. They will also buy rice, sugar, beans, cookies, milk, soft drinks, fruits and vegetables.

They plan to use their savings to care for and educate their children, as well as in the case of an emergency. Leonarda, Petronila, and Ana Maria dream of owning their homes, continuing to develop their businesses, and that their children will be able to continue moving up and become professionals.

[3] Cheang Cheak Ly: Mrs. Cheang Cheak Ly, 38, is the mother of three children and lives with her husband in Kampong Cham province, Cambodia. She is a housewife, cooking food and looking after her school-age children, so all of her family’s expenses are covered by her husband who works as a mechanic and typically earns around $10 each day in revenue.

Mrs. Cheang Cheak Ly has requested a loan to enable her husband to purchase more mechanic's supplies and more spare parts to use in his business.

This brings the total of KIVA projects supported to 44. All of these projects have been supported by reader subscriptions.

 
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