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 [...]]]>

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)

Over the past two months, we have received quite a bit of news from our entrepreneurs all over the world which we supported through microfinance loans.

A grip out of the numerous updates:

Over the past year, we have supported many loans to Ecuador. A recent update showed how life continues to be a challenge in South [...]]]>

Over the past two months, we have received quite a bit of news from our entrepreneurs all over the world which we supported through microfinance loans.

A grip out of the numerous updates:

Over the past year, we have supported many loans to Ecuador. A recent update showed how life continues to be a challenge in South America:

A major energy crisis has swept Ecuador since November 5, crippling many businesses.
Daily power rationing in every zone of every town and city lasts between 3 and 5 hours every day. Half of Ecuador’s economic output is petroleum, but most is destined for foreign lands. Domestically, the country relies on hydroelectric power. The nationwide drought and lack of alternative fuel sources have brought the country to a near-standstill. Coupled with the global financial crisis, the energy crunch has impacted further access to capital for many entrepreneurs, given slower demand for goods and services.

Examples of how Kiva borrowers have been affected are unfortunately easy to find from our interviews. For example, Felinda in Manta has a restaurant that needed to shut its doors in the evening for dinner, as she could not service her clients. Astromelia in Portoviejo could not use her computer nor print photos for clients using her digital printer when the power went out for 5 hours in the middle of a work day.

In Cuenca, the drought itself is impacting the many agricultural businesses of Kiva borrowers such as Teresa who lives in the hills behind Cuenca. Many of her chickens and pigs purchased with a Kiva loan have passed away, and she is currently behind on her repayments to Fundación Espoir. Luckily, the government has stated that the crisis will be over and daily rationing will end before Christmas due to new deals signed with Peru and Colombia to supply energy to Ecuador.

Cindy has invested her money in buying more shoes and a car to transport goods. She has not had difficulty in paying her loan so far and is in good health. Cindy is also 6 months pregnant with a boy on the way. Her husband’s electrician business is not going as well due to the economy, but has been taking advantage recently with the energy crisis with the sale of generators for businesses in need.

Maria, on the other hand, invested her money in buying more chickens, guinea pigs and food for her animals. Mari has had some family issues recently with the recent death of her sister who passed away from a stroke. Maria has taken over care of her 3 nieces who are 7, 5 and 11 months of age because the children’s father was an alcoholic and could not care for them.

After the devastating typhoons which hit South East Asia in October, we launched a major fundraiser to support the affected entrepreneurs in the Philippines, Cambodia and Vietnam. Over $6,000 was raised in one month.
In December we received several updates:

Instead of running her planned a sari-sari (variety) store, Ms Irvy Bation in the Philippines is currently focused on her ice drops business. If the weather is good, Irvy estimated that she can make P1,000 in a day. She’ll usually leave 3 boxes of ice drops at three separate school canteens at the beginning of the day, and then will visit the schools again at the end of the day to pick up the earnings. She also takes orders for ice drops, usually from neighbors.

Apart from ice pops, Irvy also sells what she calls “lumpianiza” – or lumpia (small eggrolls) with longaniza (Filipino pork sausage) as the filling. She sells the lumpianiza for credit, payable in 15 days.

Irvy expressed her thanks for the loan in the video above. She was comfortable enough to use English for most of her interview, so the video is well-worth checking out! Going forward, Irvy would like to buy a freezer, so she can make more ice drops and expand her business to other schools.

We highlighted Fe Erma before, an entrepreneur directly affected by the typhoons before. Fe used our loan to buy what was needed for her fishing business: 4 bundles of different fishnets worth Php 40,000 and 40 pieces of bamboo worth Php 2,000, a total of Php 42,000.
She will use all of these in expanding the fish pond. The remaining part of her loan is kept as a buffer when her business needs it.

Lolita Cerezola, also in the Philippines was also affected by the typhoons which destroyed her fishing pond. She converted her loan to a group fund and every member of the group can use it in times of emergency needs.

Lolita used the loan that she received in buying the necessary things that needed by her business in improving it. To repair the fish cage she buys what is needed like fishnets worth Php 11,250, bamboo cost Php 2,500, different nails worth Php 1,000, a total of Php 14,750. They also bought a small boat and repaired it to make bigger, costing them Php 25,260. She use her own savings to compliment the loan.

Nancy Cernero used the loan to buy a complete boat worth Php 18,000, different types of fishnet worth 12,000, a total of Php 30,000. Their first plan is to make their own boat but they decided to buy a made fishing boat because they were running out of time. They really needed to use the boat in fishing. They’ll just make sure that the boat that they’ll buy is durable.

From Cambodia, we received this update:

Mrs. Mao Kung and her husband, Mr. Nget Sarom work hard to support their four children. She is a pig breeder and her husband is a rice farmer. In order to grow her pig breeding business, Mao Kung used the loan of 1,000,000 Riel ($250 USD) to buy piglets and pig feed. She successfully sold the pigs earlier this year and experienced an increase in profits.
She reported that she was able to start a savings as well as buy a cow to plow her husband’s rice field. They expect to save money over the long run since they will no longer need to hire a laborer for the field. They did have a minor setback as her husband got a lung complication and needed to spend 150,000 Riel ($38 USD) on medical attention. Despite the minor financial setback, Mao Kung was very happy with the loan’s impact and plans on taking out another loan to buy more piglets.

Milena, a Kiva Fellow volunteering in the Philippines sent us an update from Rubelyn, one of our entrepreneurs, who lives on a tiny island called Nuc Nucan.

Reaching Rubelyn was an unforgettable experience. First, we took a 45 minute boat ride from the mainland. We arrived on an island surrounded by [...]]]>

Rubelyn with her two children

Milena, a Kiva Fellow volunteering in the Philippines sent us an update from Rubelyn, one of our entrepreneurs, who lives on a tiny island called Nuc Nucan.

Reaching Rubelyn was an unforgettable experience. First, we took a 45 minute boat ride from the mainland. We arrived on an island surrounded by seaweed farms and weathered boats. Most people on the island work at night, so during the afternoon they socialize, sing at videoke bars, or relax in the countless hammocks that line the narrow streets.
There are no cars or bicycles on this island; people walk, and the “streets” are narrow pathways of sand lined by houses and shops. The island is vibrant. To get to Rubelyn, we had to maneuver through a maze of children, music, and shops smelling of roasted fish.

Rubelyn lives in a small house located right on the beach. She was shy to talk to me, and preferred speaking through a translator. She confirmed that she is a fish buyer. She purchases fish from local fishermen, and either sells them in Nuc Nucan or at the Bohol mainland.

The loan helped her to buy fish in bulk and at a better rate, and she used the extra profits to pay for the daily expenses of her family. She has two children, both of which are shown in the picture.

Mirzaeva Kumri is 53 years old. She is 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 benefited from a good sales [...]]]>

Mirzaeva in her shop

Mirzaeva Kumri is 53 years old. She is 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 benefited 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.

A couple of months back, Kumri has requested a loan of 2500 Somoni (US$750) for a term of nine months to increase her product inventory. At that time, the cold season was coming and everyone was preparing for winter season. By purchasing additional inventory, Kumri was better prepared to meet increased demand and earn a good income.

I just received this update:

Mirzaeva proved to be a very responsible borrower. She made all of her payments on time and has been improving the amount of inventory she carries.
Kumri is a very hard worker and has efficiently used her loan to grow her business. She tells us she has a larger client base and her clients purchase from her more often due to the variety she offers.

Mirza paid back her loan for 100%, and within the agreed timeframe

One of the first loans we made almost a year ago, was to Arlene in the Philippines where she runs a food stall, a carinderia.

Here is the update I received:

Arlene Damas grew up in Butuan City, which is in the Caraga Region of the Philippines. She now lives in the [...]]]>

Arlene in her food stall

One of the first loans we made almost a year ago, was to Arlene in the Philippines where she runs a food stall, a carinderia.

Here is the update I received:

Arlene Damas grew up in Butuan City, which is in the Caraga Region of the Philippines. She now lives in the town of Lopez Jaena in the Misamis Occidental province with her husband Severino and their three children. They met each other when they were working in Manila City. When they decided to marry, they agreed to live in Severino’s hometown. Arlene’s primary income is from her “carinderia,” a mini eatery. Severino is a carpenter.

Arlene is one of the pioneer Paglaum Coop members. She joined when the program was introduced in Lopez Jaena in 1997. She has taken out five loans with this group.

Arlene lives near Mindanao State University-Lopez Jaena, which offers classes from the primary grades through high school. Many of her customers are students, teachers, and fisherfolks.

With her loan, Arlene increased her food supplies, bought a door lock for the carinderia and a refrigerator so she won’t have to rent a freezer from her neighbor anymore.

Her loan is now 95% repaid.

We received an update from one of our loans in the deep Pacific:

Tasi Rasch owns a cattle farm with about 10 cows. She sells her cows to villagers for falavelaves, Samoan feasts. On these occasions, Samoans butcher a cow to celebrate a wedding, throw a birthday party, or mourn a recent [...]]]>

Tasi Rasch in Samoa

We received an update from one of our loans in the deep Pacific:

Tasi Rasch owns a cattle farm with about 10 cows. She sells her cows to villagers for falavelaves, Samoan feasts. On these occasions, Samoans butcher a cow to celebrate a wedding, throw a birthday party, or mourn a recent death. Large cows cost 1,000 tala (400 USD) and smaller cows cost around 500 tala (200 USD).

Tasi reckons she sells about one cow each month. In addition to her cattle farm, Tasi runs a small plantation with her husband. On their land they grow taro and bananas. Tasi’s loan from South Pacific Business Development (SPBD) was used to buy pesticides, fertilizers, machetes and nails for a new cow pen.

Each week Tasi sells her produce in Apia, the capital city. From their produce, Tasi and her husband earn around 200 tala each week. Tasi hopes to buy a car with her profit from her two businesses.

A few months ago, we gave a loan of US$50 to Sabor and Faryada Kapysa in Kabul, Afghanistan

Sabor wanted to take a loan for his general store so he could buy the necessary building materials to enlarge his shop.

Faryada wanted to take a loan for her brother’s business as [...]]]>

Sabor and Faryada in Kabul, Afghanistan

A few months ago, we gave a loan of US$50 to Sabor and Faryada Kapysa in Kabul, Afghanistan

Sabor wanted to take a loan for his general store so he could buy the necessary building materials to enlarge his shop.

Faryada wanted to take a loan for her brother’s business as baker who wanted to change his business with a bigger shop.

Sabor reported he bought the materials and finished the rebuilding while Faryada’s brother used the loan to more flour and fire wood for his bakery, increasing his business.

From Nicaragua:

It has been 10 months since Sandra Elba Rivera first received a Kiva loan, and in that time, her utilities sales business has improved markedly. After recently visiting her to see the micro loan effect on her business, Sandra Elba Rivera expressed to me how much the loan [...]]]>

Sandra Elba Rivera and her mother

From Nicaragua:

It has been 10 months since Sandra Elba Rivera first received a Kiva loan, and in that time, her utilities sales business has improved markedly. After recently visiting her to see the micro loan effect on her business, Sandra Elba Rivera expressed to me how much the loan of $275 has helped her broaden her ability to compete with similar businesses in the area.

She has succeeded by increasing profits by 4 -11 % / a modest a modest amount over the course of the loan, primarily through the competitive purchase and sale of utilities Sales products at more cost-efficient prices.

Sandra Elba Rivera would like to personally thank all Kiva lenders who helped her achieve a level of professional success and personal fulfillment unimaginable before receiving a micro loan. She hopes to garner further support from Kiva lenders in future small business endeavors.

An update from one of our loans in the Dominican Republic

Marcia Mejia is the Group Coordinator for the Confianza y Dignidad (Trust and Dignity) Bank of Hope in Hato Mayor.

This group of 5 hopes to utilize this microfinance loan to further establish their existing business ventures or create new operations [...]]]>

The Confianza Y Dignidad group

An update from one of our loans in the Dominican Republic

Marcia Mejia is the Group Coordinator for the Confianza y Dignidad (Trust and Dignity) Bank of Hope in Hato Mayor.

This group of 5 hopes to utilize this microfinance loan to further establish their existing business ventures or create new operations in order to increase their profit levels.

Marcia has 2 teenage children, ages 18 and 14. Marcia plans to utilize this loan to increase the inventory of the products she sells. Currently Marcia sells a variety of men’s, women’s, and children’s undergarments. Marcia is dedicated to the success of her business as she dreams of one day owning her own large variety store and converting a room in her house to a store.

Loan funds will be used to increase current inventory levels and begin the process of creating a store.

An update from Maria España Ugaz Castillo in Peru:

This morning I visited Maria at her stall behind the chicken-sellers in the Micaela Market, an eclectic collection of stands along the main road which connects Pucallpa to faraway Lima. Maria sells cooked beans out of two extra large pots. Every once in a while [...]]]>

An update from Maria España Ugaz Castillo in Peru:

This morning I visited Maria at her stall behind the chicken-sellers in the Micaela Market, an eclectic collection of stands along the main road which connects Pucallpa to faraway Lima. Maria sells cooked beans out of two extra large pots. Every once in a while she interrupted our conversation to call out “Frijoles!” (“Beans!”) to passers-by. Maria gets up around 3:00 am to begin cooking the beans over charcoal. By 7:00 am they are ready. Maria works every day from Monday to Saturday, taking Sunday off to attend church.

Maria just received a new loan of 1500 soles (about $500) from Manuela Ramos through her communal bank, “Mujeres Perseverantes” (Persevering Women). She plans to use part of this loan to start up another business selling cooked meats in the evening from her home. The money will go toward purchasing plates and cups to serve the food to customers as well as toward more beans for her current business. Maria decided to start this additional business to supplement her income because bean sales have not been very good lately. Although Maria’s two adult sons, who are policemen in other towns, have helped Maria to pay her loans, she does not want to count on their help indefinitely.

Maria told me that the fact that her bean sales are down is due in part to competition from other sellers in the market. She also must face a lot of fluctuation in the price of beans, which makes having a steady income more difficult.

Maria is a widow and lives with her 25-year-old daughter who works as a secretary at a local school. Maria went to work for the first time after her husband died three years ago. Around that time Maria began working with Manuela Ramos and used her first loan to start her bean-selling business. Maria told me that she enjoys selling. Without her loans from Manuela Ramos, Maria told me, she would not have the capital to work. She is proud to have never gotten behind in her loan payments.

In this short video clip Maria talks about her goal of moving forward with her business.