As some of you might already know, our Small Business Development program has undergone a serious transformation since July. After several months of research, conversations with partner organizations, and logistical planning, we were very excited to launch a microfinance pilot program. Our loan group of five agricultural entrepreneurs was established in December and the loans, ranging from $100 to $400, were distributed in early January. Throughout the last month, we've kept up with our due diligence and made weekly visits to our loan recipients. While Jefferson and Pete labor away on their land, helping to plant seeds or mix organic fertilizer, Madeleine, Lucy, and myself have gone to our loan recipients' homes, observing how they have spent their money and the progress they are making. We were excited to see Rosa Maria's brand new greenhouse, erected just one week after she received her loan, and we got to meet Janneth's four healthy pigs, that she is now able to provide with necessary feed and nutrients. Most exciting, however, was our group meeting last Friday, when all five recipients met up and paid back their first installment of the loan. We're thrilled with the success we've had thus far, and look forward to completing our first loan cycle with 100% repayment!
Polly
1 comment:
I wanted to see the pigs.
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