The U-City microcredit club held a virtual meeting on April 28 and made 7 loans for a total of $500, as follows:
The Tuinuwane Group is 29 women who live in Bukavu, Congo (Democratic Republic) at the tip of Lake Tivu. The area around Lake Tivu was the most adversely affected by the two civil wars in 1996-2004. The DRC lost 2 million people during that period and much of its infrastructure. As a result, very few lending institutions exist in the area. The Tuinuwane Group is borrowing $5,650. Judith is the leader of the group. She is 47 years old, married with 12 children. She sells mattresses at the town's central market. With her portion, she will purchase 10 mid-size mattresses to sell. We loaned $75.
The Flor de Campo Group is 8 women who live in Curen in the high mountain country of western Guatemala. The group is borrowing $2,750. Marie is 29 years old, the mother of 3 children and she is illiterate. She owns a convenience store and will use her portion of the loan to buy rice, pasta, eggs, coffee, sugar and salt. We loaned $100.
Shareem is a 55 year old woman with 5 children who lives in Haripur, Pakistan. She raises flowers and sells them in the local market. She is borrowing 45,000 PKR ($450) to purchase seeds to raise roses, kanji palm, red palm and others. This loan is designed to comply with Islamic Law and so cannot charge interest. Instead the NGO (Kashf Foundation) will purchase the goods for Shareen and sold them to her with a small markup fee. In order to provide that service to its clients, Kashf Foundation had to receive a fatwa from an Islamic scholar. We loaned $50.
Faranianina is married to a driver, has two children and lives in Antananariva, Madagascar. She previously ran a tavern but she went to school to learn hair styling a few years ago and now runs a hair salon. She is borrowing $425 to buy brushes, masks and shampoo for her business. Madagascar is classified as "fragile' by the United Nations. It has very poor infrastructure and a poorly functioning banking system. This makes it very difficult to access funding. We loaned $25.
Isara is 48 years old with 6 children of her own and 2 relatives that she adopted as well. She lives in Waterloo, Sierra Leone and has had a fast food cake businessfor the past 9 years. She is borrowing $275 to purchase flour, oil, sugar, baking powder, etc. We loaned $50.
Ahmed is a Palestinian refugee who lives in Sidon , Lebanon with his wife. He started a carpentry business with a friend 8 years ago but 2 years ago he decided to work alone. He has a good reputation and a good customer base. He is borrowing $1,375 to buy wood in order to finish projects that he is already working on. We loaned $100.
Serafina lives in Cusco, Peru and does vehicle body repair work and painting. She has had the business for some time and it is going well. She works hard every day. She is borrowing $1400 to buy auto paints. This is her third loan. We loaned $100.
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