This group is called “La Amistad”, the Friendship, because all members are friends and neighbours of the city of Caacupe in Paraguay. These women seek a better quality of life for their families by supporting each other’s business ventures. They are united with the purpose of growing not only economically but also personally.
We have contributed $25, together
with another 105 lenders, in a loan of $6,175 to the group so that one of its
members can purchase an increased quantity of clay for her brick-making
factory. This will enable her business to grow and employ others.
This is just one example of 400+
loans we have made during the past 4 years in 72 countries. Each loan has been
researched and monitored by local Microfinance Institutions. As repayments are
received we can relend the money to support other borrowers and to date our $4,000 investment has been relent over 2.5 times in loans amounting to $10,000+. With
losses running at around 2% per annum we will be doing this for many decades to
come.
This work is also of interest to schools in our catchment area as it educates our children on the challenges facing people living in developing countries and they have also made over 200 additional loans.
There have been 142 Microfinance Institutions involved in our portfolio.
This work is also of interest to schools in our catchment area as it educates our children on the challenges facing people living in developing countries and they have also made over 200 additional loans.
There have been 142 Microfinance Institutions involved in our portfolio.
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