Repayment Update & A New Loan

Trip Start Feb 29, 2008
Trip End Ongoing

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Flag of United States  , New Jersey
Friday, March 26, 2010

The Mana Group in Nicaragua (Cosmetics Sales) is repaying their loan nicely.  This amount will give us an opportunity to help another person.

We decided to help Gladys, a grocery store owner from Peru.

Location: Tarma, Peru
Repayment Term:8 months

Activity:Grocery Store
Repayment Schedule:At end of term

Loan Use:To increase merchandise
Currency Exchange Loss: Possible

Default Protection:Not Covered

Gladys is 30 years old and is a very loving and happy mother. She lives in her own house together with her husband, Yony, who is 35 years old, and their 10-year-old son, Edison, both of whom are the motivation for her efforts.

Her grocery store is one of the most popular in the Villa Vesca area. Her charisma and friendliness have made her preferable among her neighbors, who do not doubt shopping very early since they know that she is the first store to open.

What she likes most about her work is talking with her neighbors about the things that happen in the town. She has been in this business for 2 years and considers the most difficult part to be having to stay in her store the majority of the day, as it doesn’t leave her much time to cultivate her lands. In the future, she hopes to expand her store to have more products in stock to sell.

This is Gladys’ third loan with MFP. She knows that if she makes her  loan payments on time, she will be able to access another loan more easily and without making complications for her communal bank, where she is very well-liked by the rest of her partners. With the 2,000 PEN
requested, she will purchase more goods for her grocery store and  increase her stock of products.
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