Almost Paid Off

Trip Start Feb 29, 2008
1
37
45
Trip End Ongoing


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Flag of United States  , New Jersey
Friday, December 25, 2009

We've recied an e-mail saying that caterer Adela Megina Golac Santillan in Peru has made another payment to the loan. 

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.
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