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Lend with care

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rosemary Rosenfeld01/05/2017 09:06:43
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Glenda Condoy is a single mother with two young children aged 7 and 18 months. She lives in the small town of Catamayo in southern Ecuador. Glenda is a seamstress making made to measure items such as blouses, skirts, and trousers. She studied for a tailoring qualification and graduated around 10 years ago from a vocational training centre. She does receive some financial support from her ex-partner but has to work also to make ends meet and it will also set her children a good example. She believes that with a little help, she will be able to get ahead and give her children a better future and a more comfortable and stable lifestyle. Her monthly profit is around $150. However, she thinks it could increase significantly. Glenda requested a loan to buy a new industrial sewing machine and also fabric and supplies in bulk. She thinks this will enable her to work much more efficiently and increase her profit margin as she will be able to offer customers materials, rather than them bringing

rosemary Rosenfeld01/05/2017 09:13:01
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This is a group loan to the Progress Tusoleke women who are based in the Choma district of Zambia. The group has a membership of 11 between the ages of 26 and 65. These women are married, some single and others divorced and have children who go to school. They run small scale businesses like poultry, salaula (second hand clothes) tailoring and grocery stalls. Some women started their businesses because they wanted to reduce poverty levels and be able to provide daily needs for their families. They are requesting for their second loan from the organization after successfully repaying their previous loans. They will use the money to order more products for the expansion of their business.
Autildah Mugonte is 45 years old married to a teacher and have four children. She runs a tailoring stall sewing different designer’s clothes. She started her business after she completed a tailoring course. She has so far seen much progress in her business and has a lot of customers because of the professional work that she does. She is requesting for this loan to order different types of fabric and cotton for her stall. She believes when this is done her stall will attract more customers and she will make more profits. From the profits she hopes to be able to take all her children to school and provide meals for them daily. Currently she has employed two people who help in the running of her stall.

rosemary Rosenfeld01/05/2017 09:14:08
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Above are the details of our 2 new loans, I try to spread out the countries as best I can! Rx

Sue 6202/05/2017 17:47:52
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Thanks for giving us the back stories about our borrowers. They never cease to amaze me. Sue* rose

rosemary Rosenfeld03/06/2017 09:21:11
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Hi Everyone…….. it is a new month so more repayments and more loans to make.

I have just heard that 3 more loans have been repaid completely…… by Coolwe, Safia Bibi and Nayyab Anwar.

I also received a letter about the difficulties people are facing in Zimbabwe and the greater risk of default on the loans........nevertheless......... I decided to still make loans there....but as always I try to loan to as many different countries as possible. I hope you are OK with that?

I have also made 2 more loans on your behalf.... more about them in a moment!

Rx

rosemary Rosenfeld03/06/2017 09:23:23
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Esthela Santacruz lives in San Ignacio, Cotacachi, with her husband and two children. For 6 years she has run a business producing hair bands and ornaments made of cotton thread. She uses a hand loom she owns to produce 750 hair bands every week and hands in her orders at a place called Otavalo. She is paid 9 USD a dozen.
Esthela is applying for a loan to be used as followes: USD 2000 to buy bricks and cement and build a room next to her house where she will install her workshop; USD 700 parts for her loom and USD 300 to buy thread in all colours. She will repay the loan in 24 months.
Esthela wants to increase her production beacause there is demand for her products. She wants to use her loom more efficiently to reduce production times and to hire one person in the workshop. She hopes she will be able to improve the quality of life of her family and to pay for her children’s education.

Edited By rosemary Rosenfeld on 03/06/2017 09:27:01

rosemary Rosenfeld03/06/2017 09:27:53
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Talent Masendu started her journey into business with just a few dollars. Talent is a 59 year old lady based at Glennorah suburb in Harare and she is a member of the Penyai group. She received her first loan from Thrive shortly after she relocated to the new high density suburb in 2014 where she is currently residing. Without any hesitation, Talent invested those few dollars into her fruit and vegetable stall business. With the help of that initial loan and subsequent savings she had put into her business, Talent testifies that her business grew from the month she received the first loan, she has used the profits from her business not only to start her tailoring business but also to build a comfortable life for her family, pay school tuition for all three of her children and care for four grandchildren.
With all her success, Talent isn’t done yet. She’s making plans to begin cross-border trade and expand her tailoring business into clothing sales and other items by opening a shop in the community. Talent and her group approached Thrive Microfinance for further financial assistance and they got a combined loan. She wants to use her portion of the loan amount to restock more sewing material from South Africa.

Please note that Zimbabwe is at present going through a severe economic recession and that there is an additional risk that some of the loans might be delayed or defaulted.

Carol B05/06/2017 19:55:30
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Rosemary,

thanks for the update on all the loans. I think it is worth the risk with Zimbabwe, after all it must be even harder for the ladies there to get finance.

Carol B face 23x

Sue 6209/06/2017 01:22:02
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Completely agree Carol. These ladies all work so hard to help their families and educate their children. Only still up because watching the first few election results.

Sue*

rosemary Rosenfeld03/07/2017 14:27:43
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Tapiwa Chigwende and María virginia Liquinchana liquinchana have both just fully repaid their loans. I have also made some new ones.... details to follow. Rx

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