New Loan to a Peruvian Caterer

Trip Start Feb 29, 2008
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Trip End Ongoing


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Flag of United States  , New Jersey
Friday, July 24, 2009

There were many people who we wanted to give loans to, alas our funds are low and currently we can only make one.  After a browsing through the applications, we settled on Adela Megina Golac Santillan, a Peruvian caterer who, with her first loan, estublished a thriving catering business.

From Kiva.org:
"Adela belongs to the Village Bank “Santa Ana” in the Moyobamba District, Province of Moyobamba, Department of San Martin. She lives with her partner, is 44 years old, and is a mother to 1 child that depends on her.

With the security of having a great seasoning mix to prepare different types of foods, and with her own initiative, she used her first loan of 300 PEN to launch her business in the sale of food; she sells meals daily in her business which is located in her home.

Currently, though time has passed she continues in the same business, relying on a loyal client base that seeks her food stall daily, where she attends to them with the charisma that she is known for.

With this loan of 2,000 PEN, she will purchase supplies to prepare her daily meals such as a sack of rice, sugar, oil in packages, chicken, and also utensils to use in her business that will allow her to give her clients a better service.

She is ready for anything and still feels strong enough to continue working and continue moving forward. Adela thanks the Manuela Ramos Movement for contributing to the fulfillment of her dreams and goals. "

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We also recived an e-mail from Kiva (our emphasis):

Thank you for your loan to a Kiva entrepreneur! 100% of every dollar you
have loaned will be used by your entrepreneur to build their business.

Your Loans:

-------------------------------------------------------------------------------
Adela Megina Golac Santillan in Peru (Activity: Catering) You
Loaned:$25.00 View loan profile at:
http://www.kiva.org/app.php?page=businesses&action=about&id=120757&_te=ty

-------------------------------------------------------------------------------

Next Steps:

When the loan needs of each entrepreneur you have sponsored are met, you
will receive an email containing the exact date the loan term is
beginning. This may take a while after your individual loan transaction
was made, as we may need to wait for other lenders to contribute before
the total requested loan funding is raised. Generally speaking, loans
begin at the beginning of each month.

During the Loan Term:

Throughout the course of the loan term, you will receive repayments from
your sponsored business which you can retrieve, re-lend or donate. If,
when you created your Kiva profile, you opted to receive updates about
Kiva entrepreneurs, you may also receive periodic emails informing you
on how things are going with your loan(s). Or, if you opted not to
receive updates about Kiva entrepreneurs, you can always read the online
journal for your business. If you change your mind about your current
preferences, you may update your profile at any time on the Kiva
website. We encourage you to post your own comments in response to the
journal updates posted, as the partner representatives will be able to
read and respond to these comments.

At the end of the Loan Term:

At the end of the loan term, you will receive a final email update with
a summary of your sponsored business's overall performance and success
in completing the loan repayment, as well as a complete list of options
for you to retrieve, re-lend, or donate any repaid loan monies.

Thank you again for partnering with us!

Best Wishes, Kiva Staff

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The terms of the loan state that she would repay in 8 months and we might lose some money in the currency conversion - but that remains to be seen.
We also donated some money for Kiva's overhead expenses.

We wish her the best
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