October U-City Microcredit Club Update

The U-City Microcredit Club held a virtual meeting on September 26, during which we made 11 loans for $900, as follows:

The Mshikamano Group-Buguruni is two women who live in Dar es Salaam, Tanzania.The group is borrowing $625. Halima is a beauty stylist who owns her own beauty salon. This is her second loan. She will use her portion of the loan to buy more braids to sell, a hair drier, combs, towels, wigs, weavings, and a water tank. We loaned $25.

Koudjouka is a dynamic woman who lives in Vakpossito, Togo. She owns a shop where she sells school and office supplies. She is borrowing $550, which she will use to buy 12 boxes of reams of paper and 20 boxes of exercise books. We loaned $75.

The Oung Group is two persons (Uong and Sreymao) who live in Kampong Cham, Cambodia. Uong is 26 years old and has been working as a blacksmith for 3 years. He is borrowing $1,000, which he will use to buy additional steel and other smithing supplies. We loaned $100.

Nuoong Luong 137 Group is three women who live in Dien Bien, VietNam. They are borrowing $1.050. Thuyet makes her living as a farmer, planting rice and raising chickens, pigs, fish, and ducks. She will use her portion of the loan to buy fingerlings (small fish) to raise and sell. We loaned $100.

The Wrangler Group is two women who live in Harare, Zimbabwe. The group is borrowing $1,200. Odreene owns a successful business producing exclusive and exquisite office furniture. She will use her portion of the loan to restock timber, fabric, foam rubber, executive furniture leather, springs, varnish, etc. We loaned $75.

Thang lives in Thanh Hoa, VietNam, and owns a store selling dry goods and general items. She is borrowing $1,300 to buy more cake, sweets, sugar, and milk to resell. We loaned $100.

Jose Lucinio is a 21 year old coffee farmer who lives in La Flecha, Santa Barbara, Honduras. He has been raising coffee of excellent quality for six years. He is borrowing 15,000 lempiras ($650), which he will use to buy fertilizer and liquid fertilizer which he spreads on the leaves of the plant. We loaned $00.

Abdulbassett lives in Ramtha, Jordan, very close to the Syrian border. He inherited a dairy business from his father and was making significant amounts of money until he went into military service. Once he came back, he had to reestablish himself and has now become the most popular dairy provider in town. His success is leading him to open a diary products workshop where you make things and display them for sale. With hundreds of thousands of refugees pouring into Jordan, economic tension has increased dramatically. Finding work has become difficult and everyone in the community suffers. Regional instability has always kept Jordan from gaining access to global investments and, as a result, 80% of the economy consists of small businesses without many financial services. We loaned $100.

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Happy Group - Tegeta is a group of two young ladies who live in Dar es Salaam, Tanzania, who are borrowing $625. Asha owns a music studio and is also a master of ceremonies and DJ. She has been in the business for 13 years is well-known. She will use her portion of the loan to repair her music system and add more tools for her emcee business. We loaned $100.

Cynthia lives in New Kru, Liberia and owns a business which sells rice and lappas (a kind of scarf). She is good at her business and does well. She is borrowing $250 to buy more rice and lappa to sell. We loaned $100.

Teodoro lives in Lima, Peru and is an artisan who creates handcrafted sterling silver and gemstone jewelry which he sells through NOVICA. NOVICA matches up local artisans with global consumers through the internet. If you want to see Teodoro's work, visit him online. We loaned $100.

Thanks as always for your support.