October Microcredit Club Update

The U-City Microcredit Club held an impromptu meeting at Momo's Greek Tavern on October 4, 2017.  At that meeting, we made seven loans totaling $625, as follows:

Leida Marasol is 28 years old, married with 4 children and lives in Choloma, Cortes, Honduras.  For the past year, she has been selling a wide variety of soda beverages in her home.  Her business is well known in the area.  She is applying for a loan of10,000 lempiras ($450) which she will use to purchase more refreshments in order to have a wider variety and a larger supply.  She will repay the loan over 18 months, beginning in December.  We loaned $100.

The Wagumu Group consists of two persons, Flora and Alfani, who live in Dar es Salaam, Tanzania.  Flora is in her late 30s, married with four children. She has sold clothing for five years. She sells women's dresses known as "dellah" and cotton fabric printed in various colors and designs with distinctive borders known as "kitenge" in Swahili.  She usually works from 7 in the morning until 6 at night.  She will use her portion of the $475 loan to purchase more della and kitenge.  The loan will be repaid in 12 months, beginning in December.  We loaned $100.

Kalima is 45 yearss old, married with 3 children and lives in Jalalabat, Kyrgystan.  She has a secondary education.  For 27 years, she has been breeding livestock.  She currently has 2 cows and 22 sheep and has a monthly income of 12,000 som(KGS), about $180.  She is borrowing 50,000 som ($750) to purchase another cow.  She will repay the loan over 11 months, beginning in December. This is her third loan and the others were both paid off in a timely manner.  We loaned $75.

Sorlimor Group is 4 ladies from Chorkor, Ghana.  Lawrencia is a member of the group.  She is 34 years old and sells Parazone and other detergents to customers.  This will be her 9th loan.  The groupis borrowing $925, and Lawrencia's portion will be used to buy more Parazone to sell.  The loan will be repaid over 8 months, beginning in December.  We loaned $100.

Melekije is 46 years old, married with fivechildren and two grandchildren, and lives inKosovo.  Her husband is a truck driver, and they raise tomatoes, potatoes and cucumbers.  However, their primary crop is wheat, which they sell.  This is Melekije's second loan ($1,775), and she will use it to purchase more wheat seed and fertilizer.  The loan will be repaid over 12 months, beginning in December.  We loaned $50.  Kosovo has the lowest per capita income of any European country, about $3,000.  

The group called Kuna Mbarete is comprised of 18 women who live in Villa Elisa, Paraguay.  They are borrowing $3,450 to be paid back in 3 months, beginning in December. Marta is the president of the group. She sells ice cream and has a good clientele because "it is always hot."  Her portion of the loan will be used to purchase more ice cream to sell.  We loaned $100.

Sheila is 37 years old, married with four children and lives in Ginatalan, Cebu, Phillippines.  Her husband works as a security guard and she raises hogs.  She is borrowing $125 to buy feed for her hogs.  The loan will be repaid in 9 months, beginning in December.  We loaned $100.

As always, we thank you for your support.  Your contributions and your prayers are making a real difference in the lives of entrepreneurs in 78 countries all over the world.