Almost Paid Off
Trip Start Feb 29, 2008
45Trip End Ongoing
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When she will finish paying back the loan it will tilt the balance of "paid" loans into a favorable direciton. It seems that folks who work with food do a much better job repaying loans than others.
So far the loans we gave out to a Peruvian caterer, Peruvian female barber and a Nicaraguan man who owns a grocery store are paid back (with the exception of the caterer, but she is making payments on time) while the loans we gave to a farmer and a Dominican women's group who owns a grocery store were not.
To be fair though, the Dominican women were cheated out of their money by an executive at Fundación San Miguel Arcángel, Inc. (FSMA) .
So far we're happy with the results and will soon make another micro-loan.