June Microcredit Club Update

From Rich Wymore:

The U-City Microcredit Club met virtually on June 8 and made 7 loans in the total amount of $475, as follows:

The Kuna Mbarele Group is 21 ladies who live in Ybycui, Paraguay.  The group is borrowing $5,250 to be paid in 5 installments beginning in August. This is the group's fourth loan.   Maria is one of the members of the group.  She runs a cantina in the school and has a lot of customers.  She is using her portion of the loan to buy drinks, juice, sweets and other items.  We loaned $100.

Sabougnouma Group is 15 women who live in Dieli, Mali. The group is borrowing $3,250 to be paid back in one payment in January, 2018.  One of the members of the group is Soumba.  She is 53 years old, married and has three children.  She did not attend school.  For over 20 years, she has fattened sheep and traded peanuts.  She will use her portion of the loan to buy rams to fatten and sell.  We loaned $25.

DuOng is a 30 year old married man with two children.  He lives in Hoang Hoa District, a rural town in Thanh Hoa, Viet Nam.  For the last three years, he has been cutting hair.  He is borrowing $450 to expand his barbershop.  He will repay the loan in 12 months, beginning in August.  We loaned $75.

Samuel is 32 years old and the father of two daughters who lives in Manandona, Madagascar. He has been raising pigs for 10 years and has borrowed money three previous times to purchase livestock.  He is doing well and has recently rented a rice field with his earnings.  He is borrowing $325 to be paid back in 12 months, beginning in August, 2017.  He will use the funds to buy two pigs, a steer, and 200kg of food-grade flour.  We loaned $25.

Lidiiya lives in Novomoskousk, Ukraine.  She is married and her children are grown. She has been in business for more than 20 years and, over those years, has experimented selling different goods. However, she has recently settled on women's underwear.  She is borrowing 50,000 hyrunias ($1,900) to buy wholesale goods.  She will pay the loan over 24 months beginning in August.  During the summer demand for her products grows, and she wants to have a wide variety of products.  We loaned $50.

The Cosmos 79 Group is 8 ladies who live in LaPaz, Bolivia.  The group is led by a board of directors and Gladys is president.  They are borrowing $6,525 to be paid back in 9 months, beginning in September.  Gladys is married, with 3 children and sells vegetables at her food stand. She will use her portion of the loan to purchase vegetables wholesale in the big market which she will sell.  We loaned $100.

The Crazy Laydy Group is 4 ladies who have been friends since they left their homes in the Phillippines many years ago to come find work in Lebanon.  The Phillippine community in Lebanon is marginalized, and they don't enjoy access to financial or other services.  The group is borrowing $2,800 to be paid back in 6 months, beginning in September.  Silbia is a member of the group.  She is 44 years old, married with 6 children.  She sells jewelry and will use her portion of the loan to purchase a new collection of Brazilian gold.  We loaned $100.

As always, we thank you for your support.