Update on our loan to the Mabibo Freedom group in Tanzania

Fatuma Jumbes Mabiba Freedom Group

Fatuma Jumbe's Mabiba Freedom Group

Received this update from Kiva:

Greetings from Tanzania! Thank you for supporting Fatuma Jumbe and the Mabibo Freedom group. I am happy to report she is doing extremely well. With the loan she received, she purchased an interlocking machine.

As a result, her monthly profit rose to $93! Fatuma uses the additional profits to cover household expenses, to buy fabrics and to pay school fees. Fatuma and the Mabibo Freedom group are very grateful for the loan and are thankful to every one who has supported them.

Project 14: Kumri Mirzaeva in Tajikistan

Kumri Mirzaeva

Here is a summary of The Road’s 14th social project:

A micro-financing loan to Kumri Mirzaeva in Tajikistan.

Mirzaeva Kumri is 53, married and the loving mother of four children. Kumri owns a successful clothing and shoe sales business located at the Sakhovat market in Dushanbe, Tajikistan.

She has been doing this business for about 13 years. Her business has benefitted from a good sales location and constant demand for her products. Kumri tries to offer good prices to her customers while still making a profit. A normal monthly income from her business is around 1500 Somoni (+- US$350).

Kumri has requested a loan to increase her product inventory and stock. This is a busy time for many market vendors as the cold season is coming and everyone is preparing for winter season. By purchasing more stocks, Kumri will be better prepared to meet increased demand and earn a good income.

We believe her perseverance and natural liveliness will help her continue to succeed in her trade and repay this loan on time. (See also her profile on Kiva)

This loan goes through “Imon”, the local micro financing partner of Kiva.

Loan Request: $750
Repayment terms: 9 months (Deadline Sept 15 2009)
We gave her a loan of US$50

This is The Road’s 14th social project. The funds for this loan were donated by the VK0IR Heard Island expedition team.

More on The Road’s social project “Change Starts Here”.
You can keep track of our project via our score card.

Update on the loan to the Danaya group in Mali

Danaya women in Mali

Danaya women in Mali

The women of the Danaya group bought bags of néré nuts for making into soumbala and for resale in Bamako (the capital of the Republic of Mali).

The loan enabled them to increase the scale of their businesses and led to an increase in demand and sales. According to the women of the Danaya group, prospects are good because they rarely run out of stock and the customers are pleased the quantity available and the quality offered. The group always made their loan payments and obtained the projected profit.

This loan has now been repaid.

More microfinance loans, from Togo to Nicaragua

We just invested in the business of Yawa Ameganvi in Togo!

Yiepee! We’re now totalling US$5,850 on our social project.

We just got $500 refunded from previous loans and reallocated them to new microfinance loans for Kiva entrepreneurs:

Hilda Bermejo in Peru (Party Supplies): $50
Yawa Ameganvi in Togo (Sewing machine): $50
Paulina in Peru (Food stocks): $50
Evangelista Carranza in Nicaragua (supply tocks): $50
Shabana Zafar women in Pakistan (Supply stocks): $100
Uzma khanum women in Pakistan (Tailoring): $100
Irshad Bashir women in Pakistan (Bakery stocks): $100

Follow the progress on our scorecard!

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