Wednesday, December 27, 2006

My Career as a Financier to the Developing World

If you happened to read my previous post Make a Loan and Change a Life you learned that I made a small loan to an entrepreneur in Ecuador that sold Bibles and other retail items. I am happy to report that Ariola has made her first payment of $42 out of $250 or 16.8%. Since I was one of ten different lenders lending $25, my portion of her repayment was $4.20. Here's more about Ariola and her business.

Location: Guayaquil, Ecuador
Activity: Retail
Loan Amount: $250.00
Loan Use: Buy bibles, clothing and other miscellaneous products to sell
Loan Repayment Term Range: 6-10 months
Start Date: Nov 25, 2006
Amount Repaid: $42
Partner Rep: Luis Crespo, Esther Vasquez
Partner: MIFEX

Ariola is a saleswoman in her neighborhood. Primarily she sells bibles to the people from her church and her community. She started off with $50 of investment capital and has slowly expanded her businesses. She also sells clothing and other products targeted towards women. In order to make her products affordable to her clients she takes half of the payment at the time of purchase and charges the rest on a weekly or bi-weekly rate. She is eager to receive a loan in order to buy more products for her clients like more bibles, CDs and clothing. She hopes that she can receive the loan before the busy Christmas season begins. This business is a complementary source of income in her household of 6 children. Her husband works as a bricklayer but he does not make enough money to provide for his family on his own.

Go visit if you want to help a developing world entrepreneur.

Copyright © 2006 by Philip Hartman - All Rights Reserved

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