UCity Microcredit club meeting - December 30, 2017

The U-City Microcredit Club met virtually on December 30, 2017.  At that time, we made 14 loans in the amount of $1,125, as follows:

The Mafanikio Kivinge Group is five men who live in Dar es Salaam, Tanzania. The group is borrowing $1900 to be paid back in 9 months starting in February. Selemani is a member of the group. He sells fish. His portion of the loan will be used to buy more fish to sell, a big table to put them on, and ingredients such as salt. We loaned $75.

Arise is group of 8 ladies who live in Chorkor, Ghana. They are borrowing  $5,525 to be paid back in a 8 months, starting in February. Victoria owns a grocery store where she sells bags of rice, flour, canned fish and beef, cooking oil, etc. She will use her portion of the loan to purchase more goods to sell. We loaned $100.

Kyar Poet-2E-Village Group is 4 women who live in Myingyan, Myanmar (Burma). The group is borrowing $850 to be repaid in one payment in December 2018. Zar grows rice and onions on her three acres of land. She will use her portion of the loan to buy more rice and onion seedlings. We loaned $25.

Erlinda is 40 years old and lives in Gattaran, Cagayan, Phillippines with her husband and two daughters. She sells liquid petroleum and also sells soft drinks. She is borrowing 70,000PHP ($1400) to expand her business. She will repay in 11 months, beginning in February.  We loaned $100.

Ofiuco Group is 8 women who live in La Paz, Bolivia. They are borrowing $6,950 to be repaid in 7 months, beginning in March. The eight ladies have formed a commercial bank which has a board of directors. Anghela is the board president. She has a business selling handbags. She will use her portion of the loan to purchase wholesale bags and resell them from her stall. We loaned $100.

Alba Emily lives in El Salvador with her 15 year old son. She earns a living making and selling pupusas  (a traditional Salvadorean dish of a thick corn tortilla stuffed with fried rice, cheese, flour, and corn and served with curtide and tomato sauce).  She will use the loan to purchase more materials. We loaned $100.

Emily's Group is eight farmers who live in the Marele District of Kenya. Emily is 42 years old, married with 3 children, and is the leader of the group. The group is borrowing $450 which will be repaid in one payment in January, 2019. Emily has been farming for many years, raising corn on 3.75 acres. She will use her share of the loan to purchase hybrid seeds, fertilizer and a solar lantern. We loaned $100.

Polin is 27 years old and lives with his parents in Croix-de-Bouquets, Haiti. He sells dry bags in bulk to laundry businesses. He has been in business for 10 years and is borrowing $650 to purchase more bags in order to serve more customers. He will repay the loan in 6 payments, beginning in March. We loaned $50.

Carnen Cecilia is a tailor who lives in  Barranquilla, Columbia. Her specialty is sports clothing, school and business uniforms. She is borrowing $1,025 to buy basic materials (fabrics, cuffs, threads, buttons, fasteners, etc) in order to serve her customers. She will repay the loan in 12 months, beginning in March. We loaned $50.

Ephinenie's Group is 8 women who formed a "village bank." They all live in Senegal and are borrowing $6,000, which will be repaid in one payment in July 2018. Paulette plans to use her portion of the loan to buy two pigs to fatten, 200 chicks for her poultry farm, and a large amount of ready-to-wear clothing that she will resell. We loaned $100.

Saikal is 52 years old and lives in Kyzylkiya, Kyrgyzstan. She sells dried fruit at a market. She earns about $1500 a month and is borrowing $2900 to buy more dried fruit. She will pay the loan back in 12 months starting in March. We loaned $100.

Ahmed is a 26 year old married Palestinian who lives in Tripoli, Lebanon. He has been a cattle man for several years and has an excellent reputation. Now he is going to start a new business as a butcher. He is borrowing $2,050 to open a butcher shop and will repay the loan over 15 months, beginning in April. We loaned $100.

Kondwani lives in Mzimba, Malawi and is a Zoona agent. Zoona is a mobile money operation that invests in entrepreneurs like Kondwani who provide financial services to underserved communities. Kondwani builds his business through mobile payment transactions, for which he charges a fee. He currently has 8 outlets in the Mzimba area where he employs 9 female tellers to assist in his outlets. He is borrowing $1400 to increase his transaction float (the difference between cash in and cash out) in order to handle his daily transactions. He will repay it in one payment in September 2018. We loaned $25. He is pictured  here in front of one of his outlets.

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Tepora is a 35 year old married woman with 5 children who lives in Fogapoa, Savaii, Samoa.  She makes and sells pancakes. She is borrowing $400 to buy bags of flour, sugar, a large frying pan, a new oven, cooking oil, a strainer and yeast. She will repay the loan in 12 payments, beginning in February.

These will be the last loans in which we invest in 2017. It has been a tremendous year for us with the reaching of many milestones. While we concentrate our loans in areas where there are no financial services,  our losses are low. Watch for our Annual Report to be published in the next month or two for more details about the people we loan to. We remain convinced that this is one of the best investments anyone can make - starting persons in business or helping them grow their existing business enables them to get out of poverty and be successful. We thank each of you for your support - both financially and spiritually. Please join us in one of our meetings in 2018.