Saturday, June 21, 2008

New KIVA loans

Three new loans come into play. The first two loans are from subscription contributions by H. Paul and R. Buffham. The third is from a Scratchback purchase by Informed Trades. I would like to thank all supporters of my research for their hard earned funds.

The first loan goes to Tran Thi Thuy in Vietnam:

Mrs. Tran Thi Thuy, 34 years old, joined TYM since 2001. Her husband is a kind man who always help out his wife with the housework after coming home from work. He is currently working as a handyman, earning around 1.5 million VND per month. They already have 3 children, all going to school at the moment. Mrs. Thuy work as a tailor and all of her loans had been invested into this business. This cycle, she would like to borrow 10 million VND to invest into this shop. Her family monthly income is around 4 millions VND.

The second is to the Xejuyu Concepcion group of entrepreneurs in Guatemala:

The women of the Xejuyu Concepción Group come from very humble backgrounds. They live in the rural areas of the Concepción municipality in the department of Sololá. Of the fifteen women in the group, all but one have children. All of their children of school age are currently in school, as these women have made their children’s education a top priority. None of the women are able to read and write, nor do they speak Spanish, as their day-to-day interactions are all in their native Kaqchikel language. As they gathered to fill out paperwork for requesting the loan, many appeared timid, a little nervous, but definitely excited about the prospect of getting loans, expanding their businesses, and improving their lives. Only two of the fifteen women were able to sign for themselves, while all the others leave their fingerprint in place of a signature.

The Xejuyu Concepción Group is new to Friendship Bridge and, for at least half of these women, this is their first time to have access to credit. They work in a variety of trades: three work in weaving traditional clothing, eleven work in agriculture, and one sells fruits and vegetables. As such, those working in weaving are requesting loans to purchase more thread and fabric, while those working in agriculture and fruit and vegetable sales will use their credit to buy seeds and fertilizer. They already have great plans for the money they are requesting, and hope to get it very soon. Right now is planting season, so the sooner they get the loans the faster they can get their crops going.

In addition to directly helping their businesses, the women hope that the loan will also enable them to save some money. They all want to be able to set aside more money, specifically to ensure that they can pay for their children’s studies and school supplies. Overall, these women dream of improving their lives and those of their families. More than anything they want to see their children complete school and be successful.

The third goes to the Nyenga East b Group in Uganda:

The group leader of this small group is Teopista Nassanga. She is currently operating a beauty salon and is requesting a loan to buy more hair dryers. Teopista is 30 years old and is married. Her husband is a driver. She has 6 children ranging from age 6 to 18 and her children go to school. Each week, Teopista makes approximately UGX 32000 in profits and with the extra profits from her loan, she hopes to be able to expand her salon business Teopista has taken a loan from BRAC Uganda before in the amount of UGX 1300000 in order to buy two hair dryers and the loan was paid back on time.

Teopista is joined in her small group by Lovis Katamba, Rose Ndiwalana, Betty Namulondo, and Annet Namwase. Lovis Katamba operates a hardware shop and wants to buy more hardware materials. Rose Ndiwalana is currently operating a farm and wants a loan to expand her business. Betty Namulondo operates a bar and wants to buy more beers and drinks. Annet Namwase is currently owns a restaurant and is requesting a loan to buy more foodstuffs, soft drinks and utensils.

Dr. Declan Fallon, Senior Market Technician, the free stock alerts, market alerts and stock charts website