Updates on our project from all over the world

Eudisa Belloc in the Philippines

Eudisa Belloc in the Philippines

In the past month, I received dozens of updates from the microfinance projects we funded. A selection from the reports:

From the Philippines:

Eudisa Belloc’s loan has increased her business capital to purchase an additional storage box used for the packaging of her fish, additional weighing scale. She can also buy more fish from additional fishermen, so the number of fisherman she is helping through her business has increased.
With the extra revenue, she was able to partially renovate her house. (Full)

From the Dominican Republic:

Matilde sells clothes in her small community out in the batty near Hato Mayor. She began with 5000 pesos (138 USD) and has extended her business with the microfinance loans she received. She wants to be successful in her business and dreams of somewhat becoming a designer for her community.

As for now, she is buying clothes from the city then bringing them back to the batty to sell. However, her dream is to eventually buy a sowing machine so that she can repair and design her own clothing. (Full)

From Lebanon:

Lina is a very active woman who does her best to improve her sales. Her grocery store has been doing great, and thanks to her loan, she diversified her merchandise and increased her sales. She also expanded her product range to perfumes, beach equipment for the summer season and toys for children.

She has three children. One of her daughters is married now, and her soon is engaged. He is still in the university and plans to continue his studies in order to get a high education diploma. Her younger daughter is 12 years old and is still in school. (Full)

From Ecuador:

As a member the community bank “Progressive Union” who provided the microfinance loand, Sara Leon diversified her business. She used to raise guinea pigs but at the moment business is slow due to competition. She now bought some pigs and materials to butcher the animals. (Full)

From the Philippines:

Roberto Doroni says his rice farm is doing well. The loan we gave allowed him to purchase pesticide and fertilizers, which gave him a good harvest. (Full)

From Uganda:

Jovia Tiberindwa’s business of selling goats has significantly improved ever since she got our loan. She bought more goats to sell to her increasing clientele. Her profits have increased as a consequence, allowing her to pay for her children’s eduction. (Full)

From Tajikistan:

Kamilova Rano has successfully repaid her 8-month loan of $1500 US Dollars. Rano used the loan in order to increase the turnover capital so she could expand the stock of her goods. Part of her additional revenue is further invested in developing her business. She saves the rest for the education of her children. (Full)

From Ghana:

Victoria trades in textile and foot wear. With our loan she increased her stock was been able to acquire a shed for her shop. This allowed her to stop hawking to sell her goods. (Full)

From Cambodia:

Here is a report I received from the microfinance institute we used to issue a loan to Mrs Tol Sok:
“We met with Mrs. Tol Sok in late March and she was doing well. Mrs. Tol Sok purchased fertilizer for her farm. She is very grateful for her loan because she received it at a very fortuitous time. She needed to start farming but did not have any money to purchase supplies for her farm. Without this loan, she and her husband would not have been able to farm this season.

Mrs. Tol Sok is sad that she is old and her daughter is so young. She is afraid that she will not be able to take care of her daughter when her daughter needs her most. So she is working hard to give her daughter the best education so that she can have a good profession and take care of herself.

At this moment we are sorry to inform you that Mrs. Tol Sok’s group is delinquent on their loan. We are unsure of the cause.” (Full)

A more detailed report shows the Tol Sok Village group missed their repayment of June, although up to 48% of the loan was already repaid. As the loan runs up to early next year, I am pretty sure they will be able to catch up.

From the Philippines:

Edmar ortega used his loan to purchase additional stocks for his sari sari store, and to repair his existing vehicle so he could give better services to his regular costumers. His business keeps on improving. (Full)

Also from the Philippines:

Virginia Fabros is a four-year client of ASKI, the local Kiva partner. With her previous loans their house was being renovated and is now made out of concrete. She was able to purchase more seeds such as string beans, eggplant and bitter gourd. In addition to that, her husband bought stocks of fertilizers needed to grow their vegetables. (Full)

From Ecuador:

Piedad Arminda Calderon Escaleras invested in her food business. She now rents a space on a main street to sell her encebollado instead of selling from her home. Now that she is selling her food in a busier location she has more customers. (Full)

From Mongolia:

Oyuntuya Dashchoimbol received a 4,000,000 tugrug (about US$2,850) loan from XacBank, Kiva’s MFI partner in Mongolia, in May 2009 and is currently paying off the loan.
She requested this loan to purchase more inventory for her food retail business. She bought a great amount of poultry and her business is progressing day by day. Her working capital increased and her monthly profit reached 300,000 tugrugs (~US$210).
With her business earnings she bought necessary things for her children’s education. She helped to her oldest daughter buy a ger so that she could live on her own. Her life improved greatly and her business is expanding. (Full)