Thursday, July 29, 2010

Story on Micro Loans

Here's a story about Micro Loans from a farewell card I received.

Sherida began selling tomatoes in 1995, starting her small business with only $10 in working capital. Although her produce sold well, she could never really afford to improve or expand her business; her profits went immediately to fulfilling her family's basic needs. In 1998, Sherida heard from a friend that an organization called FINCA was offering loans to women in the area. Shreida used her first FINCA loan to purchase spare bicycle parts for transporting the tomatoes. She also cultivated her own tomato garden, and was able to afford seeds and insecticides. But perhaps most important, she was able to set aside savings, even after paying school and uniform fees for her children.

Only 4 more days of work left - I'm getting excited!

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