GLOBE Entrepreneurs

Each semester, students within the GLOBE program view and select entrepreneurs from our international communities in which to provide loans.

Please view samples of some of the international entrepreneurs you can help to support:

Nigeria

Florence Akpojaro

Name: Florence Akpojaro
Location: Edo State, Nigeria
Age: 30 years old
Business: Trade on wears
Loan Amount: 60000 Naira ($375.00 USD)
Repayment Period: 20 months

Personal and Family Information: 
Florence Akpojaro is married with 8 children. She currently owns a business where she buys clothing such as dresses, shoes, bags, etc. and sells to people in her community. Florence has eight children: two stay at home, two in secondary school, three in primary school and one in college. Though she is married, their income is 180,000 Naira ($1,122.89 USD) and is not sufficient for their daily needs. She plans to use the loan to meet her daily needs and towards her children’s education. She also is running the business alone and will not hire employees to help run the business. She intends to use the loan to extend her current business by adding more clothing pieces and accessories. Before the loan, Akpojaro’s business brought in 3000 Nigerian Naira (per week), which is equivalent to about $18.70 a week. GLOBE has hopes of helping Akpojaro’s meet her daily necessities through this loan and business. The loan is on a 20-month repayment payment period where she would only have to pay 3% interest on the initial loan of $375.

Location: Ute Oheze Village, Edo State, Nigeria
Age: 42
Business: Petty trade such as selling crayfish
Name of Business: Petty trade
Date Received Loan: 23 March 2009
Loan Amount: 25,000 Naira ($163 USD)                
Date repayment of the Loan: 13 October 2009
Personal and Family Information: A widow with six children. They live off a small farm close to their home.

Emela is a poor woman who struggles to take care of her family due to the hardships they have faced both economically and physically. She has three children who have bad cases of congenital cataracts. This is a condition where the natural lens of the eyes is clouded instead of being clear. It is generally associated with aging but there are cases of infants being born with it.

Two years ago, the children had operations to remove  the cataracts and then received eyeglasses for correction.

As a result, Emela needs the loan to be able to provide her children with medical check-ups and treatment so they may continue to retain their vision. She plans to use the loan to create a new petty trade business selling fish and other items. She, of course, hopes to achieve success as soon as possible in keeping with the previously agreed time frame for the loan.

**Update as of June 7, 2011:
In March 2009, Emela borrowed N 20,000 (130 USD) to start a petty trade business in her village in Nigeria. She used the loan to buy dry fish, crayfish, dry meat, and palm oil from a big market in the city; and resell them to consumers in the village and community market. In October 2009, a little over six months from the date she borrowed the loan, Emela was able to repay the full amount. “I am grateful to St. John’s Global Micro Loan Program,” says Emela, “they have helped me and other widows in finding a means of livelihood”

Emela’s comments:   
  
With the help of this loan I was able to accomplish the following:

  1. Take full responsibility for the well-being of the family. For example, by providing the basic needs- food, clothes etc of the family.
  2. Become more productive to the society by being able to assist people in my neighborhood who are poorer.
  3. Improve the standard of living of my family e.g. I can pay for my children’s school fees, and provide the school needs (books, uniforms, etc.)

How has this loan positively impacted your life and that of your family?  Your community?

  1. The loan has empowered me and has restored my dignity and self-esteem.
  2. It has enabled me purchase textbooks and pay school fees for my children.
  3. It has helped me to take care of my family's basic needs.
  4. It has also helped me to have a means of livelihood.

Please include any opportunities you had to collaborate with other people, organizations or government.

The Daughters of Charity have been of great help to my family. Three of my children are visually impaired and they are being supported in providing medical and educational assistant through the help of other NGOs.

Location: Abudu, Edo State, Nigeria
Age: 32
Business: To develop a small trade business buying and reselling foods.
Name of Business: Petty trade (foodstuff)
Loan Amount: 10,000 Naira ($65 USD)
Date Received: 23 March 2009                       
Date repayment of the Loan: Still in progress                
Amount Paid: N 4,000

Personal and Family Information: Married with three children and living happily. 

Blessing Sunday has had a difficult year. Like many people, she is looking to change her life by becoming an entrepreneur. One of her children became ill last year and the family spent all its money on medical expenses. Unfortunately, this was not enough and the child passed away. Blessing and her husband still have three children to care for.

She has developed a plan to buy and resell food in different villages. In order to start this business, she is requesting a loan of 10,000 Naira for 9 months. The opportunity to start this business may provide a stable income for the family. Blessing has prior experience in trading and hopes to use this in her new business. Her desire to succeed is driven by the need to provide for the entire family. Blessing Sunday is like many entrepreneurs, looking to make a difference and some day she may be able to expand.

**Update as of June 7, 2011:
Blessing received the loan of N 10,000 (65USD) and bought plantains, bananas, and pineapples from farmers in the villages and brought them to a small town to resell to consumers in the market.
She has paid some of the total loan back, but has faced some very hard times. She was forced to take some of this money to provide food and other basic needs for her family in the face of hunger and hardship.

Through this loan I was able to accomplish the following:

  • Improve the feeding of my family.
  • Provide the school needs of my children.

Until I ran into some problems the loan had the following impacts on my life and that of the family:

  • It has helped me to take responsibility for my family.
  • It enhanced my dignity as a woman by being dependent and not depending on charity.
  • It helped me to have a means of livelihood.

Location: Ossiomo, Edo State, Nigeria

Age: 30
Business: Seamstress
Name of Business: fashion design
Loan Amount: 20,000 Naira ($130 USD)
Date Received Loan: 30 March 2010
Date repayment of the Loan: 28 July 2010
Personal and Family Information: Married with two children, but not living with her husband

Blessing Omotayo is a hardworking mother who wants to provide the most she can for her two children.  She has sewn ever since she was a child and has gathered a great amount of knowledge, experience, and skill. Mrs. Omotayo will use the loan money to purchase a sewing machine.

Currently, sewing a garment is a tedious and lengthy process because all the work must be done by hand.  The sewing machine will greatly reduce the time needed to sew a garment. This allows Mrs. Omotayo to produce a greater number of garments in a shorter amount of time. With the sewing machine, Mrs. Omotayo plans to open a new business so she can provide enough money for her and her family to live. She is determined to succeed because the business will give her independence and allow her children to attend school.

 **Update as of June 7, 2011:
Blessing Omotayo used the loan of N 20,000 (130 USD) to purchase a sewing machine and is now selling her clothing and earning a living. She was able to repay her loan on July 2010.

With the help of this loan I was able to accomplish the followings:

  • Save some money towards renting a shop to enable me to reach out to more customers.
  • Additional income for my family upkeep.

How has this loan positively impacted your life and that of your family? Your community?

  • It has helped me to take care of some basic needs.
  • It has helped me with the payment of school fees for my children.

Please include any opportunities you had to collaborate with other people, organizations or government.

  • I am working with the Daughters of Charity Rehabilitation Centre as a cleaner where I earn some income to support my family as well as the sewing [business].
  • I am indeed grateful for your support and pray God to reward you. Please don’t relent in extending your good work to others in need.

Location: Abakpa-Nike, Enugu, Nigeria
Age: 32
Business: Seamstress
Name of Business: Sales of clothes.
Loan Amount: 50,000 Naria ($330 USD)
Date Received: 27 November 2010                   
Personal and Family Information: Left her abusive husband. She and her children are starting a new life.

Uche Muomah has suffered under her husband for many years and with the opportunity offered from GLOBE she no longer has to endure this spousal abuse. Uche decided to leave her husband in an effort to improve life with her children. She is a seamstress who wishes to expand her business with this loan that is being requested. She wishes to continue sewing and trading the clothes to take care of her family in hopes of being self-sufficient. She wants to prove her independence by showing that she doesn’t need her husband to survive.

Uche has already had some success evident in the fact that this loan is an expansion of her business. A Daughter of Charity remarks that she is too young to have to go through incessant torture and beatings. This micro-loan is a life changing opportunity.

**Update as of June 7, 2011:
Uche Muomah was given a loan of N 50,000 (330USD) and used it to buy clothes from whole sellers and sell them in the local markets. She repaid the full N 50,000 loan.

“There is a remarkable positive impact in the life of Uche and her family. Their physical out look and mood of dressing is so impressive and it has contributed to the fact that she has a means of livelihood and not living to look up to relatives for charity.” Sister Olivia, Nigeria

With the help of this loan I was able to accomplish the following:
The loan has helped me to take care of my family feeding, upkeeps and paying of my children school fees and upkeep for myself. I am grateful to St. John’s Global Microloan Program GLOBE for their assistance.

How has this loan positively impacted your life and that of your family?  Your community?

  • It has given me a sense of well being.
  • It has helped improve the quality of my life.
  • It has also helped to uphold my dignity as a woman.
  • It provides social security for my self and children.

Please include any opportunities you had to collaborate with other people, organizations or government.
I have been collaborating with a water factory that supplies me with sachet drinking water in a large quantity and I sell them to local customers/consumers.

Location: Nigeria

Age: 30 years
Loan Request: $200 (US)
Business: Trade
Date Received: 5 October, 2009
Date repayment of the loan: Still outstanding        
Amount Repaid: N 15,000
Personal and Family Information: Single mother with four children

Francisca is a 30-year-old woman living in Nigeria. She is currently a single mother with four young children, who was abandoned by her husband. She has received some education and has had experience being both a trader and a farmer.

Francisca will use the loan she has received to expand her current trading business. The loan will allow her to purchase more items to sell. The benefits of the loan will be used to help support her four children and to put them through school, amongst other things. Francisca is a promising young woman who has plans to have her children help her with the business. The Finance Team is confident that Francisca will have no problem repaying her loan within the 12-month repayment period.

**Update as of June 7, 2011:
Francisca received the loan in October 2009, purchased cassava and processed it into cassava powder (Garri) and sold it to both retailers and consumers. She also bought cola-nut to resell. The loan has been a means of livelihood and has helped her to send her children to school and buy clothes and food for her family. She intends to repay the loan by the end of June 2011. “St. John’s loan has been helpful to me and my family. My children can now attend good schools, participant in school activities and interact with other children in the community”

“The loan has helped Francisca to assume responsibility for her family, enhance her dignity and self worth as a woman and has improved standard of living in the family.” – Sr. Olivia, Daughters of Charity, Nigeria

Age: 22 years
Loan Request: $300 (US)
Business: Trade
Name of Business: Trade (Babies wears)
Date Received: 23 March 2009  
Loan Amount: N 30,000 (200 USD)                  
Date of last payment of the Loan: 21 July 2010              
Amount: 25,000
Personal and Family Information: Single

Justina Josiah is a 22-year-old woman living in Nigeria. She currently lives with her brother because she lost her father at a very young age and her mother resides elsewhere. She has obtained some education previously and her past and current occupation is trade.

Justina’s loan will be used to expand her current trading business. With the money she recieves, she will purchase items that are essential for mothers who have babies. Besides expanding her current trading business, the money that will be generated from her trading will go towards supporting herself as well as her mother. Unfortunately for Justina, her childhood was very unpleasant since her mother was unable to take care of her. The Finance Team believes that Justina will be a successful borrower and will be able to repay her loan during the 12-month repayment period.

**Update as of June 7, 2011:
Justina used the loan to buy baby wears, shoes and accessories and sell them in the market. This business has allowed her to take care of her family’s needs and upkeep. She has paid N 25,000 and hopes to pay the remaining N 5000 balance in the next few months. “I am grateful to St. John’s Micro loan Program GLOBE. I pray that God will continue to bless and reward them for giving me this loan.”

With the help of this loan I was able to accomplish the following:

  • It has helped me to provide my basic needs and those of my family.
  • To have a sense of belonging in the society.
  • It has made me to be gradually economically independent.
Patience Tayo headshot

Age: 30 years
Loan Request: $130 (US)
Business: Provision Store
Name of Business: Petty trade
Date Received: 18 February 2009               
Loan Amount: N 20,000 (130 USD)                   
Date repayment of the Loan: 2 December 2009       
Amount: N 20,000
Personal and Family Information: Separated mother of three children

Patience Tayo is a 30-year-old mother. She resides in Nigeria with just her three children, since she is separated from her husband. Her past occupations include being a hair stylist, a trader, and a housewife.

The southern part of Nigeria is an area that is graced with regular rainfall throughout the entire year. It is very difficult to estimate the annual income for people residing in this region, since they can hardly keep track of it themselves. There are numerous tribes and many different languages in this area, filled with people of a rich and diverse heritage.

Patience has high aspirations for the loan we have granted her. She plans to move away from hair styling and being a trader, to open up a new provision store. At this provision store, she will sell necessities such as beverages and toiletries in her region. This loan is very important for Patience. Besides funding the start-up of her new store, the success of her business will directly benefit her family who desperately needs the help. The Finance Team is very certain that Patience will have no problem repaying her loan within the 12-month repayment period.

Globe loan borrower Patience Tayo with cans of oil for salePatience with cans of oil for sale

**Update as of June 7, 2011:
Patience borrowed N 20,000 in February 2009 and repaid the full loan in December 2009. She used part of the money to purchase palm oil for storage to resell when the oil is out of season and used remaining money to purchase plantains, coco-yams and pineapples from farmers in the village markets and resell them to consumers in urban areas.
   
With the help of this loan I was able to accomplish the following:

  • It has improved the standard of living of my family. For example, I can now buy wears for my self and children and also food stuff for the family.
  • It has improved the size of my business. Previously, I only bought palm oil for storage for resale and during this time, I would have nothing because of lack of income and the family would experience great difficulty. Now I can still store-up my palm oil and at the same time do some petty trade.

How has this loan positively impacted your life and that of your family?  Your community?

  • It has helped me to take care of some of my basic needs.
  • It has enabled me to pay school fees and purchase wears for my children.
  • It has helped me to support the family by providing food stuff.

“I am grateful to St. John’s Global Micro Loan Program (GLOBE) for assisting me and other women across the world that are in need and pray God to bless all those have contributed to this support.”

Kenya

Location: Gataka, Kenya
Age: 51 years old
Business: General Store
Loan Amount: $250 
Personal and Family Information: Married with two children

Mr. Geoffrey Akwalu is married with two children and lives in Gataka, a city near Nairobi, Kenya. Mr. Akwalu worked in the timber business for five years until his place of work was closed. Mr. Akwalu and his wife must work various odd jobs to survive and provide for their family. He is disabled with club feet, which puts a limit on what he is able to do.  After finishing high school, he completed a course in book binding and is a library assistant at a school for the handicapped in Nairobi.

Geoffrey would like to use the loan to open up a small store to sell general merchandise. He mentions in his loan application that if he is given a loan, his son and wife could work in the store which would enable him to find work elsewhere as an additional source of income.  

Location: Embul Bul, Kenya, Africa
Age: 35 years
Business: Betty’s Baskets & Jewelry – Weaving and selling traditional baskets and jewelry
Personal and Family Information: Single mother with three children ages 14, 12 and 3 1/2 years old. The youngest child is slowly recovering from rickets and is just starting to sit up, stand and walk.
Loan Amount: 5,250 ksh - $70

Elizabeth Anyango is a single mother who supports her three children. Her youngest child suffers from rickets disease and is slowly recovering.  Ms. Anyango has taught herself to weave baskets and make jewelry. She hopes that this business will allow her to provide proper food, care, shelter and schooling for her children.

Ms. Anyango is asking for 5,250 ksh ($70) to purchase materials to start making and selling baskets and jewelry. She is confident that she can purchase the products and begin making the baskets within one week of receiving her loan.

Location: Manyetta, Kenya
Age: 54 years old
Business: General Kiosk
Loan Amount:  $75
Personal and Family Information: Single mother with four children who earns $75 a year

Ms. Aiyanai is a single mother of four children from a small town near Nairobi, Kenya. Helen comes from a rural community and was unable to complete school past the sixth grade. She hopes that her children will be able to complete their studies. Her daughter Mercy (pictured) is blind and has recently begun kindergarten at the age of 12.

Helen has worked her whole life in the shamba (a garden) and feels she is getting old for this back-breaking work. She would like to use the loan money to open a general kiosk where she can sell bread, vegetables, eggs, and other food items. She has already built the kiosk and only needs funds for supplies and inventory

Age: 40/28 years
Business: Baking Business – Baking and selling small cakes
Loan Amount: 10,500ksh - $140
Personal and Family Information: Isiah Mboya and Quinta Achieng have 4 children. They live in a one room house with mud walls and floor and no running water.

Isiah Mboya and Quinta Achieng have 4 children. They live in a village near the DREAM Center on the outskirts of Nairobi. They have a one bedroom house with mud walls and floors and without running water. Isiah works in a rock quarry six days per week, but does not make enough money to support his family. Isiah and Quinta would like to earn enough money to provide food, shelter, uniforms, books and medical care for their children.

Ms. Achieng has just completed a course in baking with a sand oven and the couple hope to open a new business baking and selling small cakes. The loan of 10,500ksh ($140) would allow them to purchase supplies to begin baking. They hope to repay the loan within one to two years.

Age: 53
Business: “St. Maria Baking”: Baking and Selling Small Cakes
Loan Amount: 10,500ksh or $140
Personal and Family Information: Single mother who cares for 9 children under the age of 18

Zippora Muthoni is currently raising 9 children under the age of 18. These children are grandchildren and nieces and nephews from deceased relatives and at least one of the younger children is HIV+. In her previous work, she collected scrap metal for resale.

Ms. Muthoni would like to open a business to bake and sell small cakes and needs 10,500ksh ($140) to purchase materials including a sand oven, tins, utensils and food items such as flour and sugar. She will begin producing cakes as soon as these items are purchased. This business will help her care for her family. She hopes to collaborate with her church and nearby shops to ensure success in her business. Her reputation is strong in the community as she was highly recommended by her parish priest and community members

Ages: Varied
Business: Revolving village banking
Date Received Loan: Fall 2012
Loan Amount: $58.00
Date repayment of the Loan: Revolving loan

Personal and Family Information: 15 members
GLOBE distributed 5000 Kenyan Shillings (Ksh) to the Rosalie Rendu Self Help Group (approximately $58USD), who will issue loans to group members. This form of Village banking being proposed by this loan allows neighbors to join forces to form a self-administered village bank. The members are jointly and individually liable and take joint decisions as to the recipients of loans and the amount of a loan.

The Group is in the process of registering with the Kenya Government. Officers have been elected.  A bank account has been opened in the name of the group with three required signatories. Each member had been asked to contribute 300Ksh, and they have been largely successful, with a total of 4300Ksh collected to date. There are 14 women and one man in the group.  The group is mixed according to age, tribe, and religion. The members of the group are educated with specialized business skills training and updates will be provided regularly.

Group members will meet monthly. Each member is interested in pursuing a different income-generating project. The group has decided which members will receive loans, in what order and the amount of the loan. The group has decided that each member will pay interest on the loan according to the amount of the loan and are looking to us to help them decide on the rate of interest. This interest will be re-invested within the communal pot and monitored through communications with and between Sister Deborah and GLOBE managers.

Since this is a group loan, we do not anticipate a large risk due to the fact the group will be held equally responsible for the loan. Once a member has paid back a loan with interest he/she will be entitled to request another loan. No new members will be admitted to the group until all members have received a loan. New members will be accepted with the approval of the majority of the group.

While GLOBE will not be receiving the money back to our account as it will be constantly revolving within the group, we recommend adding a caveat to issuing the loan that would require repayment to Sister Deborah for the full amount of our loan if the group is forced to disband for any reason.

By issuing a revolving loan, the students will learn about a model of microlending that is very commonly adopted in developing countries.  They also will be able to apply their business skills in working with the local Daughter, Sr. Deborah Mallott, to offer advice and consultation to the group, while simultaneously learning about group processes through regular monthly meeting updates from the community on how the loans issued from our initial loan to the “group pot” are performing.  This poses an amazing learning opportunity for the class, because we would truly be managers in monitoring loan performance, as well as managing personnel on a global level.  
 
Update as of June 2013:

The Rosalie Rendu Group continues to do well; the group remains at 15 members. They have given out some small loans of 1000 Ksh which members were in the process of paying back. They are planning to make larger loans available to those who pay off the first small loan. They will continue to meet with St. Justin representatives quarterly for guidance.

Democratic Republic of the Congo

Celine Loco headshot

Location: Mbandaka, Democratic Republic of Congo
Age:  30
Business: Trade
Loan Amount:  $350                  
Personal and Family Information: 30 year old woman married with three children
Celine Loko is a married 30 year old woman with three children. Celine is one of the youngest selected applicants of the Congo. 

Celine plans on using the loan to purchase food, cosmetics, and other various small items to re-sell in the city of Mbandaka. Her children’s education and well being rely on the success of Celine’s business. There is no doubt that Celine will put in the necessary time and effort into running her business. 

GLOBE loan recipient Celine Loko at her business

**Update as of June 7, 2011:
Celine has opened her business. Given the socio - economic situation that prevails in the region, Celine has requested a grace period of three months. This brings the total duration of the loan to 15 months.

Marthe Boombe headshot

Location: Mbandaka, Democratic Republic of Congo
Age: 48 years old
Business: Bakery
Loan Amount: $300             
Personal and Family Information: Mother of six children and provides five of them with an education

Marthe Boombe is a mother of six children. She currently supports and provides for five of them with food, a home and an education. She wants to continue
being able to provide an education for her children and would like to also ensure the survival of her family.

Marthe already has a small bakery but, would like to improve the working conditions. She currently would like to rebuild her furnace and buy some supplies to help her expand her business. Some of the supplies she would purchase for use in her bakery would include plates, flour, and yeast.

**Update as of June 7, 2011:
Given the changes in the marketplace, Mrs. Boombe converted her business from selling bread to selling fish.

Siska Ombolo

Location: Mbandaka, Democratic Republic of Congo
Age: 45 years old
Business: Fish Trading
Loan Amount:  $450       
Personal and Family Information: Married with eight children

Siska is a married mother of eight children. Siska currently sells fish. She has previously taken out a loan in order to start up her business and she was able to be successful and profit from sales thus far. She is taking out this loan to increase her business, to better provide for her family and her children's education. Due to the success from her previous loan, we belive that she will be a successful borrower.

**Update as of June 7, 2011: The image above shows Mrs. Ombolo at her business selling fish to customers.

Richard Bolemba headshot

Location: Mbandaka, Democratic Republic of Congo
Age: 44 years old
Business: Rice Farm
Loan Amount: $450 
Personal and Family Information: Farmer married with six children

Mr. Bolemba lives in Mbandaka, Congo and  would like to use the loan in hopes of reinforcing his current business. He is married with 6 children. He is a rice farmer. Congo agriculture is heavily invested in the rice market as one of its staple food sources. With the current surge in rice prices worldwide, Mr. Bolemba will be able to use the loan to better compete with other farmers and offer the rice at a cheaper price because of our low interest rate.

Richard owns enough land to employ five people to work the fields. He is confident enough to expand the current production of his rice farm. He is looking to use the loan to invest in strains of rice that germinate faster and towards providing a salary for the five people he will be hiring to help with the rice plantation. Ultimately, this loan not only helps Mr. Bolemba and his family but also the families of the other five workers. This business is a pillar of his family and we believe that he will undoubtedly want to pass this down to his own children, giving his farm a great chance of providing a source of income for many years and generations ahead. 

Richard Bolemba's Rice Farm

**Updated as of June 7, 2011:

The climate change has caused disruption to the agricultural calendar. Nonetheless, work has begun, and Richard and his employees are currently in the process of planting.

Raphael Mapanda headshot

Location: Mbandaka, Democratic Republic of Congo
Age: 42 years old
Business: Cattle Breeding
Loan Amount: $400
Personal and Family Information: Married with five children

Mr. Raphael Mapanda is a borrower from the Democratic Republic of Congo hoping to expand his farming business. He is currently in the business of breeding cattle and this loan will provide him with the necessary resources to purchase additional land and pigs for reproduction.

Raphael is a married father of 5 children, and this business will serve to advance the welfare of his family by providing his children with the funds to attend an institution for higher education. His farming business has a chance to be very successful despite the competition in the area. It will serve as a consistent food supply for the area and a steady source of income for his family.

GLOBE loan recipient Raphael Mapandas field

Raphael Mapanda's field

**Update as of June 7, 2011: 
Employees are working the fields on Mr. Mapanda’s land.

Bébé Boketsou headshot

Location: Mbandaka, Democratic Republic of Congo
Age: 35
Business: Trade of fruit and chikwange
Personal and Family Information: Married with six children
Loan Amount: $300

Bébé aspires to send her children to school and be able to provide for the well being of her family. Her future goal is to produce the goods she currently sells to further provide a better life for her family.

Bébé already had successful trading operations before asking for a loan, but she wants to improve and expand her business.  She hopes to one day grow her own fruit and produce her own chikwange, a staple food in the Congo, which will lead to strictly profit in the future.

Christine Nkumu headshot

Location: Mbandaka, Democratic Republic of Congo
Age: 45
Business: Agriculture and Breeding
Personal and Family Information: Married mother of six children
Loan Amount: $350

Christine has one child at University level, one in primary school and the others in secondary school. With the help of the loan she wants to continue her children’s education, as well as provide for the safety and survival of her family.

Christine owns an existing farming business.  She will use the loan to expand her current operations by purchasing agricultural tools such as axes, machetes, hoes; corn seeds for plantation; maintenance of the fields; and pay the salaries of five employees.  

Marie Therese Boyele headshot

Location: Mbandaka, Democratic Republic of Congo
Age: 48
Business: Trade
Personal and Family Information: Widowed mother of seven children
Loan Amount: $300

After the death of Marie’s husband she took up harvesting food and breeding poultry. She is the sole provider for her family and this loan will directly help to provide for her children’s well being. 

What is special about Marie is that this is not her first loan. She has successfully paid a loan prior to this loan. This loan will launch the start of Marie’s new business. She will purchase various goods to begin her trading operations. 

Régine Elenga

Location: Mbandaka, Democratic Republic of Congo
Age: 54
Business: Seamstress
Personal and Family Information: Married mother with seven children
Loan Amount: $250

Régine’s two children are married, one is studying at the university level, two are in primary school and the other two are unable to attend. With this loan, Régine hopes to provide for the well being of her entire family as well as send her two youngest children to school.  

The purpose of her loan is to increase her current sewing operations. She will purchase two machines with the loan; one for embroidery and the other for overcastting. Régine has been sewing her entire life; she is well trained and well educated in this field.  

Régine Mati headshot

Location: Mbandaka, Democratic Republic of Congo
Age: 23
Business: Trade of oil, gasoline and fuel
Personal and Family Information: Married mother of two boys
Loan Amount: $450

Régine hopes this loan will help provide her two children with an education as well as ensure the well being of her family.  

The purpose of her loan is to increase her current trading operations of oil, gasoline and fuel, which are in high demand. The loan will give her the ability to purchase more oil, gasoline and fuel which in turn will lead to higher profits.

Angele Bongedi headshot

Location: Mbandaka, Democratic Republic of Congo
Age: 46 years old
Business: Food and Agriculture
Semester Loan was Given: Fall 2011
Loan Amount: $450 USD
Personal & Family Information: Married and mother of 8 children.

Angele Bongedi is a hard working mother who wants to make the best life for her 8 children. Angele will use the money from the loan to expand her current farming business. The loan will help Angele employ 7 workers in her community. The majority of the funds that are borrowed will go towards the purchase and investment of seeds, groundnuts and corn.
Angele aspires for her business to grow and to be able to take care of her family, children and those in her surrounding community.

Antonio Libima headshot

Location: Mbandaka, Democratic Republic of Congo
Age: 37
Semester Loan was Given: Fall 2011
Business: Farmer, Brick Manufacturer Loan Amount: $500
Personal and Family Information: Married father with six children

Antonio has an established farming business and now wants to expand his business to brick manufacturing. Brick manufacturing is very popular in the Congo since they are cheap and accessible to the general population. Since there is a demand for bricks in the area, Antonio’s there is a need for Antonio’s new business. The loan will allow him to purchase molds and other raw materials in order to increase his brick production.

Ekila Catho headshot

Location: Mbandaka, Democratic Republic of Congo
Age: 40
Business: Salt/Smoked Fish Trade
Semester Loan was Given: Fall 2011
Loan Amount: $250
Personal and Family Information: Unmarried mother of 7 children, 3 of which are in school

Ekila plans on using the loan to expand her current operation by purchasing more fish to sell in the city of Mbandaka. She wants to be able to put her children through school and enhance her family’s well-being. Ekila also has visions of a future hen business, which demonstrates her tremendous entrepreneurial spirit. An entrepreneurial spirit is precisely what GLOBE looks for and we are confident in her ability to repay this loan.

Niokombi Matata headshot

Location: Mbandaka, Democratic Republic of Congo
Age: 46
Business: Food Agriculture
Semester Loan was Given: Fall 2011
Loan Amount: $450
Personal and Family Information: Married with 7 children

Niokombi has five years experience teaching humanities. She provides for a big family and aspires to create a stable house for her children. She wants to begin to create a successful future without poverty.
She will leave her current occupation as a driver to start a new business in food agriculture. The loan will fund the cost of materials like seeds and agricultural tools.

Liyemo Séraphine heaadshot

Location: Mbandaka, Democratic Republic of Congo
Age: 40
Business: Trade
Semester Loan was Given: Fall 2011
Loan Amount: $500
Personal and Family Information: Married, mother of 6 children

Liyemo is educated with a diploma in commercial and administrative humanities and is a mother of 6 children. She hopes this loan will expand her trading operations and secure her children’s future. She would like to ensure their survival by providing them with an education so that one day they can provide for themselves. The income she will generate from her business will be used to expand her current operations, employ other individuals in the community and purchase various goods to keep her business thriving for years to come.

Vietnam

Trần Hoàng Yến headshot

Name: Trần Hoàng Yến (Head Of The Group), Trần Thị Kim Thu, Trần Thị Thụy Vũ, Đào Thế Thùy Trang
Location: P3 District Binh Thanh, Ho Chi Minh City Vietnam
Age: 39, 27, 29, 40
Business: Dresses for Supermarkets
Loan Amount: 60,000,000 VN$ (3,000 USD)
Semester Loan was Given: Fall 2011
Personal and Family Information: Single

Tran Hoang Yen is the head of a four-person group of professional tailors. These four people are going to use their expertise to help ten women sew dresses in mass production to sell at the supermarket. The loan will help to expand this already existing business. Ms. Yen has already borrowed a loan through the Daughters of Charity in the past. She has paid back her loan on schedule. This new loan would be used for more sewing machines and textiles since the business will be hiring new unemployed women in the area. This loan will not only help one person but also a group of people. The more people involved with a loan the more people we are helping out of poverty.

This is GLOBE’s first group loan. As a class we thought this group loan would be a great first start into a new type of loan. Since this business is already established and doing very well we thought the risk would be far less than a group who doesn’t have an existing business. This group has also taken out a loan before and repaid their loan in full. They understand how a loan works and are committed to repaying the loan also lessening the risk. Overall, we are very excited to give out our first group loan and feel this is a great opportunity for GLOBE.

Our first group loan was successfully paid back with interest. The group has paid back US$3184 in the alloted repayment period.

Location: Vietnam
Ages: 20
Purpose: Loan for motorbike to commute to work
Date Received Loan:  June 2013
Loan Amount: $721.00

Personal and Family Information:
Ms. Le belongs to a family of farmers. Her parents are older and could not do more than help her finish her high school study. She just finished her studies and began working for a factory. Transportation is poor and Ms. Le has to bike 20 KM daily in order to get to work. Bicycles are very hard to use during the hot season in Vietnam, especially when the distance is so long. She needs to acquire a motoscooter to enable her to go to work where buses are not available. Ms. Le requested a loan to acquire it; if she can have such a loan, within 16 months, she would be able to own a scooter for life.

Loan Update: Paid back in full in the amount of 742.75 (with the calculated interest)

Lê Thị Quỳnh Như

Name: Lê Thị Quỳnh Như
Location: 177/33 E Nguyen van Ðu, P 11 Qun Bình Thnh, Ho Chi Minh City, Vietnam
Age: 31 years old
Business: Sells perfume on the Internet
Loan Amount: $238.00
Semester Loan Was Given: Spring 2014
Repayment Period: 12 months

Personal and Family Information: Lê Th? Qu?nh Nhu lives with her parents in Ho Chi Minh City. Although she is employed in a firm and earns a regular salary, the annual household income of $1,857 is not sufficient to cover the medical expenses for her diabetic and handicapped father. In addition, Lê’s mother also has poor health. Lê is a well-educated college graduate. She tries to solve their financial issues and started trading perfume on the internet in May 2013. The business earns a profit of around $17.85 per week. By taking the loan, Lê is expected to amplify earnings by 50% per month. The additional income not only will help the family meet the medical expenses, but also will allow Lê to save enough to acquire her own business capital at the end of one-year operation.

This is the first time that Lê is taking out a loan. We are excited that Lê is the first borrower that shows technological literacy and access to the internet, which might allow GLOBE to follow up the client and measure impact. Further, we are optimistic about her ability to repay the loan, as this is an existing business with a good track record, and she is an educated borrower.

The loan was successfully paid back over a 12-month payback period with 5% interest calculated using the declining balance interest rate method, in the amount of $244.32.

Pham Thi Men headshot

Name: Pham Thi Men
Location: Ap 5, Xa Dong Thanh, Hoc Mon, TP, Ho Chi Minh City, Vietnam
Age: 49 years old
Business: Vegetable Vendor
Loan Amount: $81.00
Semester Loan Was Given: Spring 2014
Repayment Period: 12 months

Pham Thi Men is currently a vegetable vendor residing in Ho Chi Minh City. Her husband has a job as a Honda conductor, but is unable to consistently work due to his precarious health. The amount requested will be used to further expand her current business as a vegetable vendor through the purchase of additional inventory. With the loan from GLOBE, Pham expects to boost her earnings to approximately $225,000VN or $10.80US. With her additional earnings, she hopes to provide better living conditions for her and her family, which consists of Pham, her husband, and three children. Additionally, she wishes to pay for her son’s studies.

Street vending is a common occupation in developing countries worldwide, but more specifically it is prevalent in cities such as Ho Chi Minh. Street vendors in Ho Chi Minh City make up over 6% of the total workface and over 11% of total informal employment. Almost 70% of the street vendors in Ho Chi Minh City are women. This is due to the fact that there are low entry costs and flexible hours, which permits women to work a schedule that allows them to also take care of their families. Extending a loan to Pham Thi Men will allow her to grow and stabilize her vending business and provide stability to herself and her family. 

This is the first loan that Pham has taken out, and it will be repaid over a 12-month period based on a declining balance method with 3% interest. With the increased earnings that she expects, Pham should be able to make the required monthly payments of $6.86 and also have capital left over that can be used to continue to expand her business. 

Loan Update: Paid back in full in the amount of 83.10 (with the calculated interest)

Nguyen T.  Huyen Tran headshot

Name: Nguyen T.  Huyen Tran
Location: Nguyen Tu Luc, P8 Dalat
Age: 22
Business: Employee in a Food-Processing Store
Loan Amount: $950.00
Semester Loan Was Granted: Spring 2014
Repayment Period: 24 Months

Nguyen T Huyen Tran is a college graduate who lives with her widowed mother in the region of Dalat, Vietnam. It is a very mountainous region with a harsh climate. These factors make it difficult to travel in the cold by foot or bicycle, both of which our borrower has been using as her only modes of transportation to get to job at a food-processing store.  

This has taken a generous toll on her health and it is difficult for her to make it to work on time, jeopardizing her employment. Her father passed away while she was in high school, and she has been solely responsible for the monetary stability of the family. Her annual household income is $421.80, well below the national GDP per capita. Tran applied for the GLOBE loan with the purpose of comfortably navigating her way through the terrain of the mountains in Dalat, Vietnam to get to work every day. She is asking to borrow approximately $950.00 USD (20,000,000 VND) to purchase a scooter to address this issue. This amount is higher than the previously approved loan amount for a scooter in Vietnam of $720.00. The Daughter explains that our borrower needs a stronger, more expensive scooter suited to the unique terrain of her locale. 

Loan Update: Paid back in full in the amount of $996.68

Because of her strong and motivated character,  Tran was able to be a successful GLOBE Borrower. She repaid her loan in the allotted 24-month period and paid back her loan in full, including interest.

Bùi Ngoc Hùng headshot

Name: Bùi Ngoc Hùng
Location: Phan Thi?t, Bình Thu?n province, Southeastern Vietnam
Age: 49 years old
Business: Delivers fish to fish sauce factories using his lorry
Loan Amount: $945.00
Semester Loan Was Given: Spring 2014
Repayment Period: 24 months
 
Bùi Ngoc Hùng is married with three children. He lives in Phan Thi?t, a coastal city in Southeastern Vietnam. Bùi independently owns and drives a lorry (small truck) which he uses to deliver fish to small fish sauce factories/producers. He applied for a loan so he could finance repairs that are necessary for his aging vehicle so that he may continue to operate and expand his business, subsequently increase his income, and allow him to pay for his second child’s business education.  Bùi has successfully taken out and repaid a loan in the past from another MFI, which he used to buy his lorry. 

Phan Thi?t City, Bùi’s home and the capital of the coastal Bình Thu?n Province, is famous for its large seafood industry and products, including fish sauce. Aquaculture and agriculture are the city’s largest sources of revenue. This is an indication of the stable demand for the service that Bùi provides and the likelihood that he will continue to operate his business at a profitable level. Bùi believes the repairs to his lorry will allow him to expand his business, as the vehicle will be able to transport more goods and eliminate mechanical breakdowns that represent costly repairs and take time away from his business. 

Bùi reports he earns approximately $65.65 per week and his reported annual income is $3414.00. This means the annual income per capita for the members of his household is only $682.80, significantly lower than the GDP per capita, which is $1,755.00. This loan could have the potential to improve the family’s standard of living and break the cycle of poverty by giving the children enhanced opportunities to complete their education. 

Loan Update: The loan was repaid over a 24-month period based on 5% interest calculated on a declining balance method. Due to inflation, he was able to pay back US$ 998.68.

Location: Dak Lak, Vietnam
Age: 33
Business: Motorscooter used to commute
Loan Amount: $333.33  
Repayment Period: 15 months
Semester Loan was Given: Fall 2014

Personal and Family Information:

Nguyen Bien Cuong, is a 37 year old man, living in Dak Lak with his wife and three children. Cuong got divorced and remarried after 7 years, his first two children are from his first marriage and the last child is with his current wife. Cuong does not own a house yet but that is one of his goals.

Cuong is currently employed doing manual labor in the country site. His employment brings in 36,000,000 Vietnamese Dong (per year), which is equivalent to about $1714.00 USD per year. Including Cuong’s family, the overall household income tallies to 54,000,000 Vietnamese Dong (per year), which is equivalent to $2,571.00 USD per year. 

Cuong is going to be using his $333 loan from GLOBE to purchase a motor scooter, which will allow him to commute to his work sites. Cuong has a family that he desperately wants to provide for; his loan amount is very specific because he knows he will be able to pay it back within a reasonable amount of time. His monthly payments is $22.67, accounting for 16% of Cuong’s monthly income. 

Loan Update: Cuong paid back the loan of $340.03 given to him with at a declining balance interest rate of 5%. He was successful at making repayments in the 15-month term.

Location Ho Chi Min City, Vietnam
Age: Not provided
Business: Motor scooter for daughter
Loan Amount: $285.71
Repayment Period: 9 months
Semester Loan was Given: Fall 2014

Personal and Family Information:

Nguyen Thi Anh Tuyet is a married mother of two with two teenage daughters; she and her husband have full-time jobs. Their daughter is currently in college and working a part-time job to help her parents pay off expenses. Nguyen is a housemaid who currently makes $238.08. She will use her $285.71 loan to purchase a motor scooter for her daughter to travel between home, work, and college. This will give Nguyen’s daughter the opportunity to devote more time to her school work. The daughter has just recently been accepted to college, and intends to work part-time to help pay the expenses of the family.

This loan is especially important to GLOBE, because this loan is in line with GLOBE’s mission. It certainly promotes higher education and development for a younger generation. It also would serve as a great aide to a family that is trying to make ends meet in order to put their daughter through college. Nguyen Thi Anh Tuyet’s daughter may indeed be able to start her own business upon completion of a college degree. Loaning to her would teach her entire family the basics of the loan process and how it can be used to help others. This may inspire her daughter to be a benefactor in her community, which is another component of the mission of GLOBE. . In addition, it will contribute to the empowerment of women in the community, which is yet another principle championed by GLOBE. The ability to go to school and learn about the logistics of paying off a loan will without a doubt allow Nguyen Thi Anh Tuyet’s family to become more independent and entrepreneurial.

Nguyen’s current monthly income is $238.08, and with a 9-month term, her scheduled loan payment is $32.14 monthly. This means she is only paying 14% of her monthly income.

Loan Update:Nguyen has successfully repaid back her loan in the amount of 289.30.

Location: Ho Chi Min City, Vietnam
Age: 33
Business: Motorscooter for food delivery business
Loan Amount: $330.18
Repayment Period: 12 months
Semester Loan was Given: Fall 2014

Personal and Family Information:

Lan Uyen is a hard working single woman living in Vietnam. She intends to use her loan to purchase a motor scooter. She will use the motor scooter as a mode of transportation for her food delivery business. She previously had a motor scooter stolen, therefore GLOBE recommends that in addition to purchasing another motor scooter, she purchase a lock and chain as well.

Lan Uyen currently works two jobs. Her first job is working at the Social Office of the Daughters of Charity. Her second job is her food delivery business; Lan Uyen has a strong work ethic and a sprit that cannot be broken. Lan Uyen has other motivations besides helping herself; she uses her income to enable her siblings to attend school.

Lan Uyen will have a loan of $330.18 over a repayment period of 12 months, making her monthly payment $27.96, this amounts to 12% of her monthly income. 

Loan Update:Lan has successfully repaid back her loan in the amount of $335.59

Location: Dong Nai Province, Vietnam
Age: 36
Business: Goat Vending
Loan Amount: $333.33
Repayment Period: 24 months
Semester Loan was Given: Fall 2014

Personal and Family Information:

Kim is a married mother of three, one daughter (16 years old) and two sons (13 and 6 years old). Kim is the family’s sole breadwinner since her husband suffers from lung cancer and has undergone chemotherapy 6 times in the past. Since her husband has been in treatment, her family has acquired a large debt. Kim intended to use her loan to start a goat vending business. Kim plans to use the loan to purchase two pregnant goats that are due to give birth in a little over a month. The male goats will then be sold and the female goats will continue to produce more kids, so the business will be revolving. She will essentially be buying and raising goats to sell. Her family members will gather grass to feed the goats so expenditures will be limited.

Kim came highly recommended by our partners, The Daughters of Charity in Vietnam. . Kim has the spirit of an entrepreneur because she proposed her business idea herself and is a quick learner when it comes to engaging in new business ventures.

Kim’s current monthly income is $195.00 and with a 24-month term, her scheduled loan payment will be $14.33 monthly. This means that she will only be paying 7.35% of her monthly income. 

Loan Update:Kim has successfully repaid back her loan in the amount of $343.85.

Nguyễn Kim Diệu 

Location: Dong Nai Province, Vietnam
Age: 24
Business: Construction of a new house
Loan Amount: $712
Repayment Period: 15 months
Semester Loan was Given: Fall 2014

Personal and Family Information:

Nguyễn Kim Diệu is a married mother of two, a 5 year old son and a 3 year old daughter. With her loan, Nguyễn Kim Diệu intends to build a house with the help of her husband, brothers, and her cousins who are all in the construction field. Nguyễn Kim Diệu wants to ensure that her family is protected from floods, which are common to the area.

Although the loan is not directly related to helping an entrepreneur start a business, the mission of GLOBE is to alleviate poverty. GLOBE believes that having a stable place to live is imperative. According to Maslow’s hierarchy of needs, shelter and safety must first be fulfilled before a person can attain self-esteem and a sense of love and belonging. A house will also provide the children of the family a place of their own where they can be comfortable and thrive socially and academically.

Nguyễn Kim Diệu will pay $48.42 per month for 15 months. 

Loan Update:Nguyen has successfully repaid back her loan in the amount of $738.71.

Location: Ho Chi Minh City, Vietnam
Age: 22
Business: Housekeeper
Loan Amount: $800
Semester Loan was Given: Spring 2015

Nguyen Duong Ngoc Anh is a twenty-two year old female who has an annual income of $2,700. She has applied for an $800.75 loan for 24 Months to use towards the purchase of a motorbike to facilitate transportation between worksites as a housekeeper. Nguyen Duong Ngoc Anh currently lives with her father, mother, and younger brother. She helps her father support her brother, and her sick mother. Her father currently works as a laborer. Nguyen Duong Ngoc Anh has a high school education.

Loan Update:Nguyen has successfully repaid back her loan in her given 24-month repayment period, in the amount of $831.14.

Location: Ho Chi Minh City, Vietnam
Age: 46
Business: Food and Dessert Cart
Loan Amount: $233.00
Semester Loan Was Approved: Spring 2015

Vo Thi Phuong is a forty-six year old female who has an annual income of $2,532 and had asked for a loan of $232.40 for less than 8 months to by supplies for her food/dessert cart. Vo Thi Phuong has a sick husband and elderly mother that she cares for. GLOBE Managers were impressed with Vo Thi Phuong because she is a well-educated woman who filled out her application in clear paragraphs in perfect English. Vo Thi Phuong has loyal customers for her food cart and knows that she can repay her loan quickly.

In Spring 2015, GLOBE approved a loan of $233 to be repaid in 7 months. 

Loan Update:Vo has successfully repaid back her loan in the amount of $235.34. 

ĐỖ VĂN DŨNG headshot

Location: Ho Chi Minh City, Vietnam

Age: 50
Business: Security Guard
Loan Amount: $460      
Repayment Period: 12 months
Semester Loan was Given: Fall 2015

ĐỖ VĂN DŨNG is a 50-year old security guard for the Kindergarten school for the Daughters of Charity in Ho Chi Minh City.  Van Dung has a wife and 3 daughters. He is a wounded soldier, and is only able to see through his right eye, which is 50% injured. Van Dung is requesting to borrow $449 in order to buy a motorbike as his means of transportation to work and children’s transportation to school. His family lives far away from his work destination and the children’s school destination. Without a viable means of transportation for him to get to work, he will be at risk to lose his job and can ultimately lose his share of cash inflow of income to provide for his family.

ĐỖ VĂN DŨNG will receive a loan of $460 for 12 months at a declining balance interest rate of 5%.

Loan Update: Do has successfully repaid back his loan, totaling $468.97.  

PHẠM VŨ ĐÌNH NGUYỄN headshot

Location: Ho Chi Minh City, Vietnam

Age: 25
Business: French Teacher
Loan Amount: $360      
Repayment Period: 15 months
Semester Loan was Given: Fall 2015

PHẠM VŨ ĐÌNH NGUYỄN is a single man who lives alone in Ho Chi Minh City. Pham is a first time borrower asking for $360 in order to be able to purchase a motorbike to go to work. Pham is located in Ho Chi Minh City and needs the motorbike in order to commute to his day job as a French teacher. The loan is going to spread out over 15 months with a monthly payment of $24.81. Pham’s loan payments make up only 9.3% of his monthly income. A motorbike will allow Pham to save time on his daily commute and make his daily working life easier, which could potentially benefit his family. Giving Pham this loan will allow him to avoid entering a cycle of debt through a local moneylender who would be just as willing to grant him a loan.

PHẠM VŨ ĐÌNH NGUYỄN will receive a loan of $360 for 15 months at a declining balance interest rate of 5%.

Loan Update:Pham has successfully repaid back his loan in the amount of $367.54.  

Location: Ho Chi Minh City, Vietnam
Age: 60 years old
Business: Repairs to tri-motorbike
Loan Amount: $44.87
Semester Loan Was Given: Spring 2016
Repayment Period: 10 months

Tran Phi Long is a sixty-year-old married father of two living in Ho Chi Minh City. With a loan of $44.87 Tran will make repairs to his motorbike. Tran uses the bike for delivery and it is his main source of income. The $44.87 will go towards replacing the worn brakes and tires on his motorbike.

The loan will be paid back over a 10-month payback period with 5% interest calculated using the declining balance interest rate method.

Loan Update:Tran has successfully repaid back her loan, totaling $45.90. 

Vu Hoai Thuong headshot

Name: Vu Hoai Thuong
Age: 25 years old
Region: Đaklak Province, Vietnam
Past & Current Occupation: Housekeeper
Approved Loan Terms: $360.00 for 18-month period

Semester Loan was Given: Fall 2016

Vu Hoai Thuong is a 25-year-old housekeeper seeking to expand her income by helping her brother with his small “eating house”. She received a “1 rating” from the Daughters of Charity, indicating her strong recommendation level. Her parents are cultivators and she has three siblings, two of whom are married. Vu aspires to work to help her family have a better life. The “eating house” will be located in front of her home. The business will be run by her brother, but the entire family will be involved to help the business to succeed. As a small family owned, customer- oriented business, they can provide good service with the hope of retaining customers.

Vo Hoai lives with her parents and her one unmarried brother. Her parents are cultivators with a stable income. Vu Hoai has the potential to attract many workers and travelers with her eating house located in this area, and she will use the loan to buy fresh produce and food inventory She will not be greatly affected by inflation rates during her 18 month repayment period.

With her brother owning the business, Vu would be responsible for managing the loan and purchasing inventory to help the business succeed. The eating house also has the ability to consistently attract local customers in the area. Her strong personal recommendation, previous working experience, and family situation attest to the fact that she is a knowledgeable worker with a strong support system, and, therefore a creditworthy GLOBE borrower. 

Loan Update:  Vu Hoai successfully repaid her loan within a year, instead of the 18-month period she was given. She also paid back $374.40, which is inclusive of the total calculated interest on her loan. 

Trinh Thuy Thao Tram headshot

Name: Trinh Thuy Thao Tram
Age: 25 years old
Region: Khanh Hoa Province
Current Occupation: Employee for an architecture company in Ho Chi Minh City
Past Occupation: Interior Design
Loan Terms: $1,345.00 USD for a 24-month repayment period
Training/Skills/Education: Bachelor of Interior Design

Semester Loan was Given: Fall 2016

Trinh Thuy Thao Tram is an innovative interior designer, seeking to expand her knowledge and work overtime with the use of a laptop computer. Trinh Thuy received a “1 rating” from the Daughters of Charity, indicating her strong recommendation level. Trinh Thuy is the eldest child of cultivators and works very hard to help keep her younger brother and sister in school. She is dedicated to her interior design work and motivated to work overtime with the addition of her laptop.

With this loan to purchase a laptop, Trinh has the ability to work overtime for her current employer. She will continue to work for the architectural company and help support her siblings throughout college. She has requested a high loan amount because her interior designs require specific platforms only offered through certain, more expensive software.

The overtime work performed on her new laptop will provide her with more steady income to support herself as well as her family, which will also improve her loan repayment abilities. The fact that Trinh has a stable, paying job and a college degree along with having minimal housing cost by living with her parents, she is a worthy GLOBE borrower.

We believe that through this loan we have a chance not only to lift Trinh to a higher social status but also her two siblings that she is helping support through college. Her improved income will help ensure they graduate, and with college degrees themselves and the subsequent higher earning potential, the whole family may be able to break the poverty cycle they were in.

We believe in Trinh and are happy to have borrowers like her that help alleviate their families out of poverty. 

Le Minh Man headshot

Age: 44 years old
Region: Tan Thanh District, Ho Chi Minh City
Current Occupation: Owner of knife grinding business
Past Occupation: Knife Grinder
Loan:Borrower seeking to expand his knife grinding business
Loan Amount and Repayment Period: $897.00 USD in 24 months

Semester Loan Granted: Fall 2016

Le Minh Man is a first-time borrower from GLOBE. He received a “1-rating” from Sister Pascale Le Thi Triu, Daughter of Charity Microloan Coordinator in Vietnam, indicating his strong recommendation level. Le Minh Man is the main laborer in his family and provides the majority of income for the household. He works as a knife grinder and earns an equivalent of $314 USD per month. Le Minh Man’s existing knife grinding business currently produces a weekly revenue of $76 USD.

Le Minh Man has requested his loan to expand his current business sharpening and grinding knives. There are no similar businesses in Le’s area, so the expansion to his business will attract an even larger clientele. Le Minh Man does not have other employees working for his business. He will use the loan to purchase a motorbike to save time on his commute to work. The motorbike will also allow him to reach more customers and yield a more profitable business. The success of Le Minh Man’s business will allow him to provide a better life for his family. The additional income generated from the requested loan will allow him to pay for his daughters’ school fees and afford health insurance for his family.

He received a strong recommendation rating from the Daughters of Charity and has a strong work ethic.  The Vietnamese loans are typically paid back in full and on time, further fortifying the approval of this loan applicant. Le Minh Man will be able to reach more customers after purchasing a motorbike, which will allow for the expansion of his knife grinding business. His business success will allow him to provide a better life for his family. 

Võ Vinh Phát headshot

Name: Võ Vinh Phát
Age: 23 years old
Region: Ho Chi Minh City, Vietnam
Current Occupation: Salesperson for online business
Purpose of Loan: Garment business, building on his mother’s seamstress business, and building a website for expanding the business.
Loan Terms: $985 to be paid in 18 months.

Semester Loan was Given: Fall 2016

Võ Vinh Phát is a first-time borrower, receiving a “1-rating” from Sister Pascale Le Thi Triu, Daughter of Charity Microloan Coordinator in Vietnam, indicating his strong recommendation level. Võ Vinh Phát contributes a majority of the household income. He is an only child and works as an online salesperson. His mother is a seamstress and his father works as well to contribute to the family income. His loan was given to start garment business, and he will use the money to purchase garment machines.

Võ intends to assist his mother’s sewing business by creating an online website for the business. His mother will design and make the clothing to sell. Võ will be in charge of advertising her products on the internet and taking care of the sales. The online website will enable them to reach a wider audience of customers and generate more income for their family. Võ will also employ two more people to work for the business. There are no similar businesses in their area, which will attract more customers to take interest in their new garment business. His previous work experience qualifies him well for the job. The business success will generate income to help the family live a better life, especially it being a family business.

Originally, Vo requested a loan for over $2,000, but given that he is a first time borrower, the Daughter reworked his proposal so that the amount would not exceed $1,000. If Võ is successful in paying back his first loan, we will gladly grant him a second loan.  

Duong Cao Hue headshot

Age: 53 years old
Region: Biểu Hòa Town, Biên Hòa City, Đồng Nai Province
Current Occupation: Babysitter
Purpose of Loan: Buy a second-hand motorbike for transportation
Loan Amount and Terms:  $630 (14,218,000 VND) for 20 months paid monthly

Semester Loan Granted: Spring 2017

DƯƠNG CAO HUỆ is a first-time borrower, requesting $620 USD to be repaid over a 20-month period, in order to purchase a second-hand motorbike so she may travel from home to work in a more timely and efficient manner. Although DƯƠNG CAO HUỆ originally requested $620 to be paid back in 19-months, the Finance team adjusted the loan for $630 to be paid back in 20-months on her behalf. Her son is a student and also would wish for the extra accommodation to help her transport her son to school. DƯƠNG CAO HUỆ is married with two children. Her husband is a laborer, her daughter is a housekeeper and her son is a student. Her daughter assists in providing finances towards their family income.

DƯƠNG CAO HUỆ and her family live in Biên Hòa City in the Đồng Nai Province. The government continues to improve on their already progressive infrastructure allowing for the daily transportation of goods and passengers to occur more easily. Motorcycles, commonly referred to as motorbikes, are a part of daily life in Vietnam and southeastern Asian countries. DƯƠNG CAO HUỆ requested a loan to purchase a second-hand, low-powered motorcycle for 30,000,000 VND (or approximately $1,327.4 at a rate of 22,260 VND) to transport herself to work and her son to school. In addition to the loan amount requested, DƯƠNG CAO HUỆ and her family have additional savings to cover the initial cost remaining. According to the Daughter of Charity located in Ho-Chi-Minh City, the cost of the motorcycle depends on the brand, time to be used, and the overall quality.

Assuming DƯƠNG CAO HUỆ travels short-distances within Biên Hòa five-days a week, the total average expense is 411,760 VND per month (approx. $18.50 USD) per month. Based on the distance between DƯƠNG CAO HUỆ’s residence and her employer's residence, we predicted DƯƠNG CAO HUỆ will drive 20 km, or about 12 miles per day.

Sister Pascale Le Thi Triu provided a numerical rating of “1” regarding the applicant’s need and reliability/reputation on a scale from 1-5, with 1 being a STRONG recommendation. Sister Pascale Le Thi Triu’s STRONG recommendation reconfirms our confidence in lending to DƯƠNG CAO HUỆ with little to no risk of the prospective borrower defaulting.

Nguyen Thi Kim Tien headshot

Age: 35 years old
Location: My Loi B Commune, Cai Be District, Tien Giang Province, Vietnam
Business Type: Piggery
Purpose of Loan: To purchase 10 piglets (600,000 VND/piglet) to expand existing piggery business
Loan Terms: 265 USD to be repaid in 20 months with a 5% interest rate
Highest Level of Education: 12 years of education
Training and skills: 3 years of husbandry experience and completed medicine course to care for sick piglets

Semester Loan Approved: Spring 2017 

Nguyen Thi Kim Tien is a first-time borrower requesting a loan of 265 USD to be repaid in less than a 20 month period. She plans to use a GLOBE microloan to purchase 10 piglets to expand her existing pig husbandry business. She is currently breeding 3 pigs to be sold within the next few months. Nguyen Thi Kim Tien shared in her application that the income earned from the sale of three adult pigs will go towards purchasing feed for her new piglets. She earns approximately 154.50 USD per month or 1,854.30 USD annually solely from pig husbandry.

In addition to being a businesswoman, Nguyen Thi Kim Tien is married with two young daughters, ages four and seven. Her husband has a collegiate degree and works as an interior installer in the field of interior decoration far from home. Mr. Tien is responsible for contributing the majority of their annual household income, which totals 419.46 USD monthly or 5,033.50 USD annually. Nguyen Thi Kim Tien works closer to her home, which enables her to be a full-time working mother. Both of their children attend school full-time.

Nguyen Thi Kim Tien previously earned a high school degree, passed a medical course related to the health and maintenance of livestock, and possesses 3 years of husbandry experience. Prior to starting her pig husbandry business, Nguyen Thi Kim Tien was a street vendor and farmer.

The business of piggery is extremely popular in Vietnamese culture. Vietnam has a population of roughly 93 million people with an average pork consumption of about 20kg per capita, making Ms. Tien’s business a promising one for potential and successful expansion.The main expense for her pig husbandry business is feed for the piglets assuming they have a place to dwell and remain healthy. To compensate for an increase in feed expense, Nguyen Thi Kim Tien receives excess food from local eateries and plans to reinvest her profits for selling 3 adult pigs to purchase feed for the 10 new piglets. Piglets did require a closed infrastructure (unlike chickens) and the weather conditions are ideal for raising livestock outdoor year-round. Although there are similar businesses in close proximity, pig husbandry is a thriving industry within the country and Nguyen Thi Kim Tien’s business remains profitable.

K Tuyn headshot

Name: K Tuyn
Age: 19
Location: Ho Chi Minh City, Vietnam
Occupation: Housekeeper and Cook
Purpose of Loan: purchase construction materials to repaid family home
Loan Terms: $220 to be repaid in 24 months

Semester Loan was Given: Fall 2017

Ms. Tuyn is 19 years old and lives with her parents and 3 siblings. She is single and has one younger sister and one younger brother, all of them students. Ms. Tuyn has a steady job as a housekeeper and a cook in Ho Chi Minh City. Recently Ms. Tuyn finished a housekeeping program. K Tuyn has the intention of borrowing $220 USD GLOBE to purchase construction material to fix the house where K Tuyn, her three siblings, and parents reside. K Tuyn has not expressed interest to GLOBE on beginning her own business as yet, but GLOBE managers believe once her house is in safer living conditions, K Tuyn will focus on business operations. Having a safe and stable residence is essential, as it relieves her from the burden of having to move her family elsewhere, or risk having her elderly parents hurt by a structure that is unstable.

K Tuyn has enough financial stability to re-pay the loan with her own annual income, but the cited household annual income expands her borrower capacity. After monthly loan payments, K Tuyn would have additional disposable income to cover living expenses. Monthly repayments amount to approximately 4.5% of her monthly income from her position as a housekeeper and cook, which is extremely reasonable in terms of payback. Because of the overall low default rate of borrowers living in Vietnam, and a strong recommendation from the Daughter of Charities, we are confident that Ms. K Tuyn will be successful in the repayment of her loan.

K Tuyn proves to be an ideal candidate for GLOBE and demonstrates that she will be able to break out of the poverty cycle once her house is repaired. The Finance & Risk Assessment Team recommends K Tuyn receive a $220 loan to be repaid in a 24-month period with a 5% interest rate, calculated on a declining balance method. 

Y Luyet headshot

Name: Y Luyet
Age: 23 years old
Location: Dak Ha District, Kon Tum Province, Vietnam
Occupation: Housekeeper, cleaner and cook
Purpose of Loan: To purchase a gasoline water pump for irrigation purposes relating to the coffee farm
Loan Terms: US$441 to be repaid in 10 months

Semester Loan Was Given: Fall 2017

Y Luyet is a first-time borrower with GLOBE. Ms. Luyet is 23 years old, single, and lives with her parents who are old and weak and 5 siblings with one of them being disabled. Ms. Luyet has experience with housekeeping, cooking, childcare and home economics. She is currently employed as a housekeeper and cook.  The family manages a coffee farm and she assists in this endeavor as well.

The loan was given to buy equipment for the farm. Specifically, it is for Y Luyet to purchase a gasoline water pump to irrigate the coffee farm that her family manages. The coffee farm is located in a hill and the water needs to be pumped from the lake. Because the borrower is supporting her family, she is requested the loan to purchase a water pump to lessen the amount of labor needed to water the plants. With this loan from GLOBE, her family will spend less time watering the coffee plants and will be able to cultivate more coffee plants for more income. This will ease the burden on her aging parents. The main expenses associated with this loan are the actual price of the water pump and the possibility of hiring someone to help install the pump

There are other coffee farms in her area which suggest the market is competitive and having more coffee plants will help them gain more market share. If the market is competitive, this will help Ms. Y Luyet stand out by having a better irrigation system.

Ms. Luyet received a rating of “1” from Sr. Pascale, the Daughter of Charity for GLOBE in Ho Chi Minh City, so she is strongly recommended for this loan. We recommended Ms. Luyet receive a GLOBE microloan for her requested amount of $441 with a 10-month repayment period and at an interest rate of 5%, as she is a first-time borrower.

We believe she will be able to pay back this loan in the allotted time period, especially given that the purchase contemplated will allow her family to add to their monthly income. 

Trinh Thi Thu Hang headshot

Name: Trinh Thi Thu Hang
Age: 23
Location: Vinh Long Dien District, Vietnam
Occupation: Housekeeper
Borrower’s Annual Income: $3050
Household Annual Income: $7300
Purpose of Loan: To purchase a used motorbike to attend a vocational school for nursing
Loan Terms: $442 to be repaid in 20-months

Semester Loan was Given: Spring 2018

Trinh Thi Thu Hang is a 23 year old, single woman with no children. She lives with her parents and two older brothers who are sick due to a car accident that occurred when they were younger. Trinh’s father is a fisherman while her mother is a housewife. Currently, Trinh is a full time housekeeper in Ho Chi Minh City and attends nursing school on the weekends. She intends to use her loan of $442 to purchase a used motorbike to travel from her residency to nursing school which is approximately 10 kilometers away from her home.

As a housekeeper, her yearly income is $3042.90 which is 42% of her household annual income. This shows how much Trinh contributes to her family financially. The monthly loan payments is  8.2% of her annual income, and 3.8% of her household’s total income. The risk of default is minimal due to the applicant’s individual and household income. With the purchase of the motorbike, Trinh is taking the opportunity to improve the lives of her family.

Trinh is a student of the Vocational School of Health Ba Ria Vung Tao. This is a medical college that provides training in nursing, traditional medicine, pharmacy, basic science, midwifery, community medicine, basic medicine and clinical sciences. With a degree or specialty in any of these areas, Trinh has the ability to not only better her life, but the life of others. Additionally, the motor bike provides her with transportation that will facilitate her attendance at school, which ultimately contributes to her successfully completing her studies With an acquired nursing degree in Vietnam, Trinh will earn an income of $12,000 a year, which is nearly three times her current income.

The loan for the motorbike provides her with transportation that will facilitate her attendance at school, which ultimately contributes to her successfully completing her studies. The loan will lift her to a higher social class, positively impacting her family and community, bringing both one step closing to breaking the cycle of poverty they are in.           

Nguyen Hoang Huong Giang headshot

Name: Nguyen Hoang Huong Giang 
Age: 23
Location: Vinh Cuu District, Đong Nai Province, Vietnam
Occupation:  Leather shoe factory employee
Borrower’s Annual Income: $2700
Household Annual Income: $7700
Purpose of Loan: To purchase a new motorbike to get to work
Loan Terms: $885 to be repaid in 24-months

Semester Loan was Given: Spring 2018

Nguyen Hoang Huong Giang is a 22 year old, single woman who sought her first microloan from GLOBE. She lives with her parents and her younger sister who is in 9th grade. Her father is a security guard and her mother is a babysitter, so she has a stable financial household income. She has requested $885 to purchase a new motorbike as a means of transportation for her to get to work at a leather factory. Ms. Giang works at a leather shoe factory that is currently 10 kilometers away. However, she is planning on moving work locations to a destination that is further away and public transportation would be costly.

Nguyen earns an income of $2,751.84 annually. Her monthly loan payments will be 17% of her individual monthly income and only 7 % of her household monthly income. While she does not have her own business, we believe that by keeping Nguyen employed we are supporting GLOBE’s goals of alleviating poverty and supporting women.

This loan for a motorbike will save her on time and money, benefiting her family especially her younger sister. Nguyen’s sister is in 9th grade and her life could be greatly improved if she is able to continue her education beyond the high school level. The money Nguyen saves could be put toward funding her sister’s college education. This loan can significantly improve the lives of her family. Although this loan does not include an entrepreneurial activity, with Nguyen’s positive impact, she will assist in getting her community one step closer to breaking the poverty cycle they are in. With a college education, Nguyen’s sister has the ability to significantly improve the life of their family. It is an opportunity for growth that would directly stem from Nguyen’s approved loan request. 

Ms. Giang received a rating of “1” from Sr. Pascale in Vietnam, who strongly recommends her for this loan. She has a stable, full-time paying job which assures us that she will be able to pay off her loan within the 24-month repayment period.

Nicaragua

Don Jose Concepción Almanza Fonseca headshot

Age: 56 
Location: Managua, Nicaragua
Occupation: Merchant Driver
Business: Selling food items door-to-door
Highest Level of Education: College
Training/skills: Social Work and Development Management
Family Status: Married with 2 sons

1st Loan: $700 with 24-month repayment period (Fall 2013)
2nd Loan: $700 with 24-month repayment period (Fall 2015)
3rd Loan: $700 with 24-month repayment period (Fall 2017)

Don Jose Concepción Almanza Fonseca is a third-time borrower with GLOBE. He was one of our first borrowers from Nicaragua. In the Fall of 2013, he received his first loan of $700 to expand his business of selling cheese, cream, and breeding pigs. Don Jose Concepción repaid his initial loan in 24 months with a 5% interest rate. For his second loan, Don Jose Concepción asked for the same amount of $700 with the same repayment period of 24 months which he repaid. With this loan, he was able to continue to expand his business. He saved enough money to be able to purchase a motorcycle to use when delivering his products.

Don Jose Concepción lives in Managua, Nicaragua with his wife and two male children. Don Jose Concepción received his THIRD GLOBE microloan for his requested amount of $700 with a 24-month repayment period and an interest rate of 3%, the lower interest rate is associated with his status as a third-time GLOBE borrower.

Don Jose Concepción Almanza Fonseca requested a loan to expand his business, which he has been running for over four years. His current business allows him to earn C $1153 weekly (approx. $38 USD). With this new GLOBE loan, Don Jose Concepción plans to purchase 5 quintals (500 kg) of cheese weekly that are sold in the nearby municipalities of Managua - Tipitapa, Cuidad Sandino, Nindiri, Tisma, and Masaya, and to which he will in effect to enable distribution on a motorcycle.

Since his first loan, Don Jose Concepción has added a new part of his business, which includes raising pigs. He pays one person to raise the pigs and as well as to buy medicine for the pigs, so will be employing someone in his business. Since his second loan, he has been able to profit and buy a motorcycle as a method of transportation for his business.

The Daughter of Charity, Sr. Reyna Isabel Vargas Machado, says that Don Jose Concepción is always punctual on his payments, reliable, entrepreneurial and a hard worker. He wishes to expand his business and maintain a stable job since, due to his age, he cannot find work anywhere else. The Daughter of Charity clearly demonstrated her confidence in Don Jose Concepción as a third-time borrower given him the rating of 1, being the strongest recommendation. 

Maria del Socorro Robleto Madriz headshot

Location: Managua, Nicaragua
Age: 37
Business: School and crafts supply Store
Education: Business Administration Degree
Family Status: Married with 2 kid

1st Loan: $500 with 24-month repayment period (Fall 2013)
2nd Loan: $700 with 24-month repayment period (Fall 2015)

Personal and Family Information: 
Maria is married with two daughters. Although currently a housewife, she studied Business Administration, attended seminars on sales strategies,
and worked in customer shops.

When she applied for her first loan, her annual household income from her husband is $1,937, which is below the national average of $4560 in Nicaragua. Her husband was the sole provider of the family.

As a resident of Managua, Nicaragua, Maria is currently a housewife with two children. Both in her application and face-to-face talk with GLOBE fellow, Maria expresses a high level of passion in her new business of selling school supplies near a local school, which she has been planning for years. The borrower has a positive outlook on her new business, because there’s no competing supply store near the school, and business expansion is possible. According to Maria, the loan will be used to purchase school and crafts supplies, such as pencils, color crayons, school reading books, and scissors. And since her house will be the location of the store, no store leasing expense will occur.

Overall, Maria demonstrates good business skills. In view of her training experience, Maria has studied Business Administration and sales strategies and has a working experience in customer shops. According to the feedback from the Daughter of Charity coordinator, Maria has a high level of reliability and responsibility, which can be supported by her practice of many moral and Christian values. As for the plan, it has always been the borrower’s passion and plan to establish the business over the past few years. Therefore, we believe that as an enthusiastic budding entrepreneur with good reputation, Maria deserves the microloans to empower her business.

As of summer 2015, Maria had repaid her initial loan of $500, given to her in Fall 2013. She has provided her family with a steady income, contributing to her household income.

In Fall 2015, Maria received another loan for $700 to expand her current business in order to offer a diverse array of products and also food for the local community. She has not repaid the designated loan amount in the 24-month repayment period, but she continues to make her payments in order to pay off her loan.

Sonia del Carmen Aguirre Palacios headshot

Location: Managua, Nicaragua
Age: 37
Business: Retailer

Loan: $500 with 24-month repayment period (Fall 2013)

Personal & Family Information: 

Ms. Palacios is a 37-year-old entrepreneur with three children and two nephews. She has earned a Bachelor’s Degree. Her previous work history includes Cashier, Teaching Assistant and Educator. She is currently a trader with $2,938 annual income.

Ms. Palacios was previously selling jewelry and scholastic items. With the loan she received from GLOBE, she is working on expanding her business to sell ice cream, footwear, and clothing. She is going to use the funds from the loan to purchase a refrigerator for ice cream and other refrigerated food items in addition to the clothing and footwear. This initiative will assist her in generating immediate revenue especially because unlike jewelry and educational items that are purchased as non-necessity, food and clothing are a basic necessity and their demand is high. Ms. Palacios affirms that there are no similar businesses in the area where she wishes to sell the products.

Ms. Palacios is very hard working and has a very positive outlook. This is despite her financial hardship where she has to take care of five children, two of whom are nephews whose mother was killed by their father. To assist her in her efforts GLOBE gave her a loan of $700 in Fall 2014.

As of Spring 2015, Ms. Palacios had repaid her initial loan of $700, and sought another loan. In the Spring/Summer of 2015, received another loan for $1000 for the use of expanding the inventory for her current school supply business.

Barbara Susana Calero Jimenez headshot

Location: Managua, Nicaragua
Age: 40
Occupation:  Elementary School Teacher
Business: Selling food to tourists
Training/Skill: Elementary School Teacher

1st Loan: $300 with 12-month repayment period (Fall 2014)
2nd Loan: $500 with 12-month repayment period (Spring 2016)
3rd Loan: $500 with 12-month repayment period (Fall 2017)

Personal and Family Information:

Barbara is a third-time GLOBE borrower. Her first loan was issued in the fall of 2014 at an amount of $300 with a 12-month repayment plan at a rate of 5%. Barbara repaid her loan of $308 within the timespan. Even though Barbara is an elementary school teacher by profession, she operates a food business, too. Again, in the spring of 2016, Barbara requested another loan, this time in the amount of $500, with a 12-month turnaround period at an interest rate of 3%. She repaid her loan of $508 in a timely fashion. At present, Barbara is requesting a loan of $500 with a 12-month repayment period at an interest rate of 3%, again reflecting GLOBE’s appreciation of her having been a successful borrower on two previous loans with the program.

Barbara is a single mom, with three children. She operates her food business with the assistance of her mom. The money Barbara requested will be used to buy plastic containers like cups and plates, in order to serve food, such as the popular Nicaraguan dish called nacatamales. She has the intention of expanding her business. The food that is usually left-over, Barbara would gratefully distribute it amongst the children living in her vicinity. 

Barbara’s household monthly income, earned primarily from the food business, is $246.97, which means that her repayment per month of $42.35 will only account for 17% of her monthly income. Barbara also gives food that is left over from her business on a daily basis to the children in her community, which is a boost to the local area. She isn’t solely helping her family, but also her community.

The Daughters of Charity gave Barbara a strong recommendation. They believe that she is very entrepreneurial and honest. With the current success of Barbara’s business and being a third-time borrower of GLOBE, she is an ideal candidate for a GLOBE loan. 

Belkys Maria Alavrenga Molina headshot

Name: Belkys Maria Alavrenga Molina 
Location: Managua, Nicaragua
Age: 45
Business: Cosmetics

1st Loan Amount: $700 with 24-month repayment period (Fall 2014)
2nd Loan Amount: $700 with 24-month repayment period (Fall 2016)
 

Belkys Maria Alavrenga Molina is a 45-year-old married woman with two children living in Managua, Nicaragua. She is college-educated and runs her own business selling personal care products and housewares. Her first loan was for $700 USD with 5% interest rate, paid back within a 24-month period. Her second loan, in the same amount and repayment period with only 3% interest, was granted to her in November 2016.

Belkys has been granted two microloans because she has substantial experience in expanding her business, and can further grow her operations in Managua. She is responsible woman with the good reputation of successfully repaying back her loans. Belkys received a “1 rating” from the Daughters of Charity (the highest recommendation level possible), attributing to GLOBE’s decision to approve her loans. Belkys is very likely to succeed in her business since Managua has a substantial populous base, comprised of her target market audience. With the loan, Belkys will be able to buy the necessary inventory to increase her market share in Managua.

Belkys has requested her loans for the growth of her business, but she wishes to accomplish something much bigger than that. Belkys, the mother of two children, will be giving her family the opportunity to break out of the cycle of poverty. With added income and revenue, she can continue to send her children to school to receive an education. With the right education, her children have the necessary knowledge and skills to break out of poverty and hopefully one day become middle-class citizens in Nicaragua. Belkys is giving her family this opportunity just by taking out a loan with GLOBE. Her willingness to receive this loan shows how dedicated she is to change not only her life, but her family’s as well.

Belkys Maria Alavrenga Molina is a dedicated entrepreneur, a model example of a successful GLOBE borrower, and a persevering mother. With all of these attributes, she is the poster-child of a successful woman who has the capability to break out of poverty. It is no wonder why GLOBE decided to grant Belkys microloans to give her and her family the rightful fighting chance to change their lives. 

Location: Leon, Nicaragua
Age: 63
Business: Renting rooms to college students
Loan Amount: $700        
Repayment Period: 24 months
Semester Loan was Given: Fall 2014

Personal and Family Information:

Yolanda is a well-educated mother of two. Yolanda has worked as a professional chemical pharmacist, and as both a laboratory assistant and a manager.

Yolanda wants to use her loan to expand her business of renting out rooms to college students. Ms. Padilla’s current annual household income is $3,834.89, and therefore her monthly repayment amount of $30.09 would only be 9.41% of her monthly household income.

Ms. Padilla also has a 25 year old daughter who is mentally challenged. This loan will benefit not only her and her family, but it will also support the notion in Nicaragua that a higher education can get you far.

Ms. Padilla received a loan of $700 at a declining balance interest rate of 3%. The repayment term is 24 months, and monthly payment is $30.09. 

Loan Update: She has successfully repaid back her loan.

Location: Boaco, Nicaragua
Age: 31
Occupation: Professional Photographer    
Highest level of education: Some university-level education 

1st Loan Amount: $500 with 24-month repayment period (Fall 2014)
2nd Loan Amount: $750 with 24-month repayment period (Spring 2017)

Personal and Family Information:

Plinio Antonio Gomez Almanza is a second-time borrower of GLOBE. Mr. Almanza is a husband and father of a 10-year old son. His wife contributes C$16,000 (approx. $538) annually to the household income as a national assemblywoman and shares in the decision-making process regarding family finances and their child’s education.

Plinio initially received a GLOBE microloan for $500 with a 5% interest rate in Fall 2014 and completed repayments during a 24-month period by Fall 2016. Since receiving his initial GLOBE microloan to purchase photography equipment, the borrower’s annual income has increased from C$54,000 to C$84,000, or an increase of approximately $1,009, annually. Mr. Almanza applied for a second GLOBE microloan of $750 with a requested repayment period of 24 months to purchase a Nikon D800 camera. Mr. Almanza is expanding his existing photography business to provide better quality products to his clients. Mr. Almanza expects to earn C$1,800 (approx. $60) per week from this business. There is no direct competition in the area.

Plinio Antonio Gomez Almanza’s photography business’ monthly earnings are approximately C$7560 ($254 US), which is substantially higher than the monthly total expenses for running a business. He will have additional disposable income to cover living expenses. Monthly repayments amount to just over 12% of his monthly income from the business alone.

Sr. Reyna Isabel Vargas Machado of the Daughters of Charity gave a strong recommendation of Mr. Almanza. With his continued success of running of his photography, Plinio proves he is an ideal GLOBE borrower as he is pursuing his entrepreneurial interests and dreams. 

Location: Managua, Nicaragua
Age: 35
Business: Repairs to home
Loan Amount: $500        
Repayment Period: 18 months
Semester Loan was Given: Fall 2014

Personal and Family Information:

Roxana is a married mother of two, who is currently a housekeeper. Roxana is also the sister of Sonia Aguirre Palacios, one of GLOBE’s successful borrowers. Roxana initially wanted a loan of $700 for repairs to sewage pipes damaged during an earthquake at her elderly mother’s home. Given her current income and her situation, Roxana will receive a loan for $500 which will still help her family but also not financially burden them. With a loan of $500, over a span of 18 months, this would be 11% of her yearly family income and 21% of her income.

Using the declining balance method with a 3% interest rate, Roxana paid $28.84 per month. At the end of the 18-month term, Roxana paid a total of $515.00 including interest.

Loan Update: She has successfully repaid back her loan. 

Location: Managua, Nicaragua
Age: 50
Business: Restaurant

1st Loan: $350 with 12-month repayment period (Fall 2014)
2nd Loan: $500 with 12-month repayment period (Spring 2016)

Personal and Family Information:

Norma is a mother seeking help in putting her son through college. For her first loan, Norma initially requested a loan of $700 to be repaid over 12 months. However, given the circumstances, GLOBE approved Norma for a $350 loan with a shorter repayment period. With her second loan, Norma had requested a loan of $700 again to be repaid over 12 months, but given her financial circumstances, she was approved for $500. 

Norma is currently a primary school teacher looking to better her life in Nicaragua. She is looking to expand her current business. She has a fritanga, which is a restaurant that sells typical Nicaraguan food. Her main goal is to help her son who will be studying medicine in college.

Her current monthly income is $240.47, and with a nine-month repayment term, her scheduled loan payment is $39.38. This means she is paying 16% of her monthly income and 10% of her family income ($405.50 per month).

Norma was able to repay her initial loan, and has reapplied for another loan with GLOBE to use for her current business and to continue supporting her son's education. 

Location: Managua, Nicaragua
Age: 59
Current Occupation: Applicant sews bed linens, coverings for tortilla makers, blenders, etc.
Past Occupation: Housewife and Seamstress 
Training/Skills/Education: Elementary school education 
Business: Making pillows, bedding, towels, and blender covers
1st Loan Amount: $700 with 24-month repayment period (Fall 2014)
2nd Loan Amount: $1000 with 24-month repayment period (Fall 2016)

Personal and Family Information:

Miriam is a hardworking, creative, organized, and entrepreneurial woman. She has an illness, but she continues to work hard in order to see her business succeed and provide a better life for her family.

Miriam is a single mother of six, who also supports her two grandchildren by being a small time entrepreneur and housekeeper at a hotel. With her first loan of $700, Miriam sought to expand her business of making and selling pillows, bedding, towels, tortilla-makers, and blender covers. As a housekeeper, she had the added benefit of being able to provide the hotel she works at with the bedding she makes. Miriam lost her daughter, who was murdered by her son-in-law. Miriam used to make $1,368 and her first loan came to her at a very challenging time in her life.

Miriam requested her second loan to expand her current business: purchasing sewing bed linens, coverings for tortilla makers, and other household items. There are similar businesses in Miriam’s area, so she is looking to expand her business to attract more customers. Miriam currently does not have other employees working for her business. She will use the loan to purchase a new sewing machine and fabric to make clothes and aprons. She will also use a portion of the loan to purchase a freezer to sell ice and ice cream. Her goal is to offer a larger variety of home goods to attract more customers to her business, which will increase her sales revenue and allow her successfully run an expanding business.

In her second application, Miriam requested $1000 for a repayment period of 12-months. The team decided to extend the repayment period to 24-months. With the original terms, her monthly payments will account for 60% of her monthly income. With the extended terms, her monthly payments will account for 42.98% of her income. 

The success of her business will allow her to provide a better life for her family.  

Location: El Naranjo, Nicaragua
Age: 23
Business: Entertainment

1st Loan Amount: $400 with 12-month repayment period (Fall 2014)
2nd Loan Amount: $700 with 12-month repayment period (Spring 2016)

Repayment Status: Fully Repaid

Personal and Family Information:

Mario currently owns an entertainment business in El Naranjo, Nicaragua, which the community visits to play video games. He is looking to expand on his business. He wants to use the loan to buy two new PlayStation 3’s and two new televisions. Mario is a high school graduate with a certification in cellular repair. He is developing a technological business in an area of Nicaragua that is somewhat lacking of these resources. Thus, he is introducing his community to the luxuries of urban areas and first world countries

With his first loan, Mario initially wanted a loan of $700, however since there is very little information provided about El Naranjo, Nicaragua, the $400 that was approved would give him the chance to purchase to one PlayStation 3 and one television. Mario’s monthly income was $76.25, which made the payment 44% of his individual income. However, his monthly household incomewasis $152.50, and with a twelve-month term, he is paying $33.88 every month. This totals to 22% of his household yearly income. 

With his second loan, Mario was approved for $700 to further expand his video game business and was able to successfully repay it back within the designated 12-month repayment period.

Location: Managua, Nicaragua
Age: 41
Business: Refrigeration and Air Conditioning Shop

1st Loan Amount: $700 with 18-month repayment period (Fall 2014) 
2nd Loan Amount: $700 with 18-month repayment period (Spring 2016)

$700 approved, 18-month repayment period for second-time loan, for refrigeration and air conditioning business

Personal and Family Information:

Claudia is a married mother of two, who used her loan to help her with running her husband’s refrigeration business. Claudia’s husband fell victim to an accident and has numerous injuries that prevent him from working. Claudia is an educated woman, with a degree in Educational Administration. With her husband’s guidance and her motivation to help her family, she can easily use the loan to help the refrigeration business return to a profitable state. During her first loan, her monthly income was $391.24, and with an 18-month term, her scheduled loan payment is $39.82 monthly with 5% interest . She was spending only 10% of her monthly income to repay her loan. During her second loan, her monthly income had slightly increased and her scheduled loan payments were reduced with the 3% interest given to her second-time borrower status.

Loan Update: She was able to successfully repay both her loans. 

Location: Managua, Nicaragua
Age: 42
Occupation: Vendor of Avon products, silver jewelry and other products
Business: Dairy and Perfumes Market

1st Loan: $500 approved with a 24-month repayment period (Fall 2014)
2nd Loan: $750 approved with a 24-month repayment period (Spring 2017)

Personal and Family Information:

Jazmina Tamara Gomez Almaneo is a second-time borrower with GLOBE. Jazmina and her parents live in the capital city of Boaco, Nicaragua. Her elderly parents both have health issues associated to their age.

Jazmina receiving $500 in Spring 2014 to expand her AVON cosmetics product-selling business. Ms. Almaneo repaid her initial loan in 24 months with a 5% interest rate. For her second loan, Ms. Almaneo asked for $750 with the same repayment period of 24 months. With this loan, she is looking to acquire more AVON products to accommodate an increase in demand.  With the revenue generated from her AVON business, Ms. Almaneo has expanded her business and has improved services for her clients. This business generates C$52,000 annually (approx. $1,750).

Ms. Almaneo claims that this business does receive some competition. Her business her only source of income and additional purchases made with the loan amount would be put towards increasing her customer base and maintaining the needs of regular clients who purchase products from her. Due to the variety in AVON cosmetic products, there is a large range of what exact items and the quantity amount Ms. Almaneo can and will purchase. The AVON cosmetics include the beauty and skin care line which are the most commonly sold products and have a shelf-life lasting from three to five years if kept sealed. Thus, our client will have enough time to sell the items closer to expiration. We are confident in her ability to assess her current products and demand to determine which items would be appropriate for her to purchase and maintain her business.

Ms. Almaneo’s annual income is C$90,000.00 (approx. $3,028) which means that she should receive a monthly cash inflow of approximately C$7,500 (approx. $252). The loan repayment of $32.24 represents only about 13% of her total monthly income, a very reasonable payback ratio.

Location: Managua, Nicaragua
Age: 52
Business: Food
1st Loan Amount: $700 with 24-month repayment period (Fall 2014)
2nd Loan Amount: $700 with 24-month repayment period (Fall 2016)
Personal and Family Information:

Jose is a married father of two, hoping to restart his food business. He plans to use the $700 loan amount to buy the utensils to prepare the food and to produce nacatamales, a traditional food of Nicaragua.


When first applying for a loan with GLOBE, Jose detailed a four step business plan. The first step toward his business goals was to establish a well-conditioned work area. The second step was to increase the number of customers buying his product, even if that means expanding further from where he lives. The third step was to make sure he monitors the quality of his product. Lastly, he wished to expand according to the business’ development, which means he might sell other supplies and products that his clients might ask for. Jose also had plans to hire one or two other workers, which in turn will help other families in his community.

Jose embodied a true entrepreneur, and with his first loan of $700, he hoped to help his family and others in the community.

Jose sought a second loan from GLOBE to expand his nacatamales business with the purchase of more food supplies and utensils. Jose wants to potentially hire employees in the future. With the loan, Jose can reach a greater area, receive more customers, and provide more food for his customers. Jose has no other competitors in the area. Jose resides in Managua where there are a lot of locals and tourists. There are little to no concerns about Jose’s request because of the success he has had in the past. He has received a “1 rating” from the Daughters of Charity, indicating his strong recommendation level. With his first loan of $700, he was able to pay it back in the given 24-month period. This second loan would increase his production and raise his revenues. With this second loan, Jose would pay approximately $30 a month, representing 12.5% of his monthly income. 

Martha Lissette Linaste Machado headshot

Location: Chichigalpa, Nicaragua

Age: 43
Business: Café Owner
Loan Amount: $1000      
Repayment Period: 12 months
Semester Loan was Given: Fall 2015

Repayment Status: Fully repaid 

Personal and Family Information:

Martha is a married mother of three children ages 21, 18, and 14. Martha is seeking a loan of $1000 to be repaid over a 12 month term. The purpose of the loan is to expand her current business, a small cafe, by purchasing a variety of supplies in order to offer better and novel products for the local community. Both her husband and her son also work to contribute to the household, bringing in an additional $1,080 per year.

Martha will receive a loan of $1000 for 12 months at a declining balance interest rate of 5%.

José Luis Sevilla Zamora headshot

Location: Managua, Nicaragua

Age: 40
Business: Carpenter
1st Loan Amount: $1000 with a 12-month repayment period (Fall 2015)
2nd Loan Amount: $2000 with a 24-month repayment period (Fall 2016)
 

Personal and Family Information:

Jose Luis Sevilla Zamora is a 43-year-old married man, with two children, who runs a cabinet workshop in Nicaragua.

In his first loan, José asked for a $2,000 loan to first repair a part within a vehicle that he uses for his business; and, secondly, he would like to invest more capital into his business for expansion. After assessing José’s original loan request of $2,000 that would be paid over a 12 month term, the Fall 2015 Finance, Budgets and Risk Assessment Team did not believe that would be a viable loan for José because he would be using approximately 62% of his monthly income to pay for each monthly loan payment. The team recommended a loan amount of $1000, which is set at an interest rate of 5%. The team would consider a follow-on loan of another $1,000 once the original loan is fully repaid. Jose will receive a loan of $1000 for 12 months at a declining balance interest rate of 5%.

He was able to pay back his first loan of $1000 within a 24-month repayment period. For his second loan, he requested $2,000 dollars with a repayment period of 24 months. As the owner of a cabinetmaking workshop, he wishes to expand operations, purchase more inventory, and potentially hire 3 employees. This loan would give him a great opportunity because there is a great demand for real estate in Managua. Jose is a hard-working, honest, and responsible man who was successful in repaying his first loan.With this second loan, he would only pay $85.96 a month, representing 25% of his monthly income.

Sandra Guadalupe Loaisiga Padilla headshot

Location: León, Nicaragua

Age: 57
Business: Clothes Vending
Loan Terms: $700 with a 24-month repayment Period (Fall 2015)

Personal and Family Information:

Sandra is a 57 year-old woman who runs an informal, ambulatory clothes vending business. She is currently single and strives to provide for her parents. Sandra is asking for $700 to expand her clothing business that she currently operates alone. Sandra has expressed a strong interest in expanding her business to not only better her own life, but also her mother's. Her number one goal is to earn enough money in order to pay for her mother's costly medical bills and related medical expenses. Sandra has also expressed an interest in selling cosmetics.

Sandra will receive a loan of $700 for 24 months at a declining balance interest rate of 5%.

Age: 28 years old
Region: Managua, Nicaragua
Current Occupation: Operating a thrift store selling used clothes and other articles of clothing
Past Occupation: Sewing machine operator and saleswoman
Personal & Family Information: Applicant lives with her partner and has one daughter
Training/Skills/Education: High school education

1st Loan: $700 with a 24-month repayment period (Spring 2016)
2nd Loan: $800 with a 24-month repayment period (Fall 2016)

Miriam Aquirre Palacios is a 28-year old married woman with one child. After successfully repaying back her first loan well before the 24-month repayment period, she sought a second loan from GLOBE to expand her thrift store selling used clothes and other articles of clothing. She asked for $800 to be paid back in a 12-month period. Miriam is a hardworking and entrepreneurial woman who has received a “1-rating” from the Daughters of Charity indicating her strong recommendation level. She resides in Managua where there are no other competitors. Tourists and locals are looking for affordable and nice clothing for family back home. The team’s only concern is that her monthly payment of $67.75 plus interest would account for 65% of her solo income and 35% of her family income. As a second time borrower, the Finance Team decreased the interest rate payment from 5% to 3%.

Bayardo Antonio Mendieta Rodríguez headshot

Age: 36 Years Old
Location: Managua, Nicaragua
Occupation: Metalworker

1st Loan: $1000 with a 12-month repayment period (Spring 2016)
2nd Loan: $1000 with a 12-month repayment period (Fall 2017)

Bayardo Antonio Mendieta Rodríguez lives with his wife and two children. He has received his highest level of education from high school and he is a skilled metalworker. Bayardo is a second-time borrower with GLOBE. In the spring of 2015, he received his first loan of $1000 to build his industrial metal workshop, from which he would sell his products and metalworking services. Bayardo repaid his initial loan in 12 months with a 5% interest rate.

Bayardo Antonio Mendieta Rodríguez requested a second loan to expand his 2-year old existing business. His current business allows him to earn about C2115 weekly (approx. $70USD). Bayardo plans to purchase tools and materials such as metals that he uses to make his products and also cutting tools; more specifically, ones with welded tungsten carbide inserts to help ease turning operations when working on his products. Bayardo also hopes to employ others so that his business could increase service and production of their products.

Bayardo Rodríguez generates direct employment for his metalworking. He buys and uses materials to create metal products such as household tools based on the needs of buyers in his community. Bayardo’s request is for a $1000 loan over the course of a 12-month time frame. The loan repayment of $84.69 represents about 28% of his total monthly income, a moderate payback ratio.  While this is not as low as the ratio for some of our other Nicaraguan borrowers, this business is a more sophisticated one and can promise greater returns long term.

The GLOBE Fellows met Bayardo during the 2017 trip to Nicaragua and were very impressed with his enthusiasm over his business and the many photos he shared with them.

Bismark Benito Martinez Padilla headshot

Name: Bismark Benito Martinez Padilla
Age: 33 years old
Location: León, Nicaragua
Occupation: Credit Manager, Cash Control, and Inventory Manager
Purpose of Loan: Expand existing pulperia business
Loan Terms: $700 to be repaid in 24 months with 5% interest rate

Semester Loan was Given: Fall 2017

Bismark Benito Martinez Padilla is a first-time borrower of GLOBE. Mr. Padilla has requested a loan to expand his pulperia business by broadening his product offerings to include soda products, dairy, and chicken. Bismark from León, Nicaragua, which is considered the political and intellectual center of the nation. His loan will help his pulperia business with market share expansion via product offering expansion. His target market is the working class citizens of León who use the pulperia as a general store, where a variety of goods can be purchased. There is also some tourism in the area, and his store could service that population as well.

Mr. Padilla’s pulperia earns 1400 Córdobas, or $46.00 USD weekly, with no direct competitors in the area. Bismark has a close relationship with the Daughters of Charity in the Region, as his application comes with a strong recommendation from Sister Reyna. After monthly loan payments of $30.71 he will have an additional disposable income to cover living expenses. Bismark can efficiently monitor his revenues and expenses as he has received his Bachelor’s Degree in Economics.

Bismark is an ideal candidate for a micro-loan. With his educational background and expertise,  we are confident that Bismark can expand his business to better serve his community.

Fanny del Carmen Jaime headshot

Name: Fanny del Carmen Jaime
Age: 65 years old
Location: Managua, Nicaragua
Occupation: Senior Technical Secretary
Purpose of Loan: To fix the roof of the borrower’s house
Loan Terms: $700 to be repaid in 24 months with 5% interest

Semester Loan Was Given: Fall 2017

Fanny del Carmen Jaime sought a loan of $700 to be repaid in 24-months to fix the roof of her house. She is currently a senior technical secretary but hopes that this loan will give her the opportunity to start a business from home after repairs are made. The loan expenses would be for materials and labor for the project, that adds up to close to $600. The request for $700 will serve as a buffer to unanticipated expenses that typically arises in such work. The laborer who will make the home repairs is a licensed contractor. She makes $328.97 a month, and a monthly loan payment amount of $30.71 will still let her have a disposable income to cover living expenses. Fanny originally had not stated what type of business she would conduct from home, but the Finance team has asked the Daughter in Nicaragua to provide them with this information. Sister Reyna replied back notifying us of Carmen’s plan for a business in the sale of used clothes and shoes. This is a very common in Nicaragua and the sale of goods can be a viable business venture for Fanny.

Originally, we thought this loan for home repair was off track from GLOBE’s mission, but we agreed that the mission of GLOBE is to help people help themselves out of poverty per our mission statement. Fanny has an entrepreneurial spirit we wish to see in all our GLOBE borrowers. Her home repair will lead to the establishment of her own business, set up within the confines of her own home. 

Jaqueline M. Almanza Diaz headshot

Name: Jaqueline M. Almanza Diaz
Age: 38 years old
Region: Linda Vista North, Managua, Nicaragua
Current Occupation: Vendor of Assorted Goods
Purpose of Loan: Expansion of business selling assorted goods (Jewelry, clothing, perfumes)
Loan Terms: 19,836 Córdobas = $700 for 24 months paid monthly

Semester Loan was Given: Spring 2016

Jaqueline is a first-time borrower, who requested $700 USD to expand her current assorted goods business. Jaqueline sells items ranging from jewelry, clothing, watches, and perfumes and has been operating for approximately one year. She is separated from her husband and has two children. As such, she is the sole provider for her household, earning an annual income of $4,897 USD. She requested a loan repayment period of 24 months, which results in monthly payments of $30.71 USD after application of a 5% interest rate.  

Jaqueline and her family currently reside in Managua, the capital city of Nicaragua. Her business model is unique to her area since, unlike other vendors that access clients in person, she approaches them via the Internet. She generally sells to her co-workers and utilizes Facebook as a marketing platform. She hopes to expand her business and access a greater number of customers. Currently, she is unable to fulfill several orders due to a lack of available cash and resources required to immediately serve clients.

Since Jaqueline does not possess enough financing to purchase a large inventory, orders are fulfilled following a Just-in-Time inventory system. This means that she waits until orders are received before she procures the products. There is usually a delay between customer orders and receipt of merchandise, which deters sales significantly. Jaqueline is seeking this loan in order to purchase the necessary supplies to expand her business and serve clients in a more timely fashion. She wishes to use the funds in order to buy steel merchandise, perfumes and to cover shipping costs to clients. She has been operating this business successfully using social media for approximately one year and understands the need for available and immediate funds to cover the important start up costs of a newly expanded business and offer competitive prices.

Jaqueline proves to be an innovative entrepreneur, utilizing the advantages of 21stcentury social media to approach new clients. She is capable of operating her own successful business and this will provide the capital she needs to further pursue her dreams. 

Margarita Gallo headshot

Name: Margarita Gallo
Age: 63 years
Region: Masaya, Nicaragua (just east of Managua)
Current Occupation: Clothing Shop Owner
Borrower Annual Income: 48,000 Córdobas = $1693.89 USD
Household income: 60,000 Córdobas = $2117.36 USD
Purpose of Loan: Establishment of a new Clothing Store
Loan Terms: 19,836 Córdobas = $700 USD for 24 months, with 5% interest

Semester Loan Was Given: Spring 2016

Margarita is a first-time borrower, requesting the equivalent of $700 USD, to establish a new business in sales of manufactured and handmade clothing in Masaya, Nicaragua. She is currently accompanied by her significant other and they have four children

Although Margarita has not provided a detail project proposal, she has indicated that the funds will be allocated towards costs of establishing a new microenterprise so that she can expand her profits. Margarita currently operates a business in shoe sales within Masaya and has indicated that she would be traveling to other cities and counties in order to purchase her merchandise. Fortunately, transportation is relatively efficient in Masaya, with a reliable and inexpensive bus system. With the establishment of her new clothing business, she would have stable access to the nearby artisan and consumer goods markets to acquire her inventory. Her new line of products would include manufactured and handmade products, but she has not explicitly indicated whether or not she will be producing some of the items herself.

Margarita demonstrates strong business capability, given her years of experience in both secretarial and entrepreneurial work. She has also indicated that there are similar businesses of this type in the area. In light of projected increases in revenues, following the successful establishment of her new business, we believe that Margarita will be able to adequately cover the monthly payments. As Margarita is now 63 years old, she may possess a higher risk of illness or physical injury. That should not be a cause for concern, but her health will be monitored during the course of the loan term.

GLOBE believes that Margarita is a focused entrepreneur that has developed a strong ability to grow her enterprise successfully and reap favorable levels of profit. The Daughter of Charity, Sister Reyna Isabel, has personally given her a strong recommendation, testifying to her high level of integrity and entrepreneurial spirit. 

Philippines

Olive Cerro headshot

Age: 38
Business: Cooked Viands and Sari-Sari Store
Education: Vocational/ Cosmetology
Loan Amount (peso): 25,000.00 (532 USD)
Loan Term: 24 – months

Semester Loan was Given: Fall 2015

Olive Cerro is currently a laundry woman and house helper. She is a single mother of 8 children. Three of her children are not in her custody because they live in a temporary shelter, which is run by the Hospicio de San Jose.  She is seeking a loan for groceries, kitchenware, and ingredients as a part of her new business of selling cooked viands. Olive will be working by herself in her business. Olive is eager to start her business to support her family.

Her ultimate goal is to be economically independent, but most importantly to get her children back in her custody. Aside from the business, she is attempting to grow her family is all that she has in the world and it means nothing to attain monetary gains if it isn’t for the purposes of helping her family.

Age: 45
Business: Piggery/ Tailoring
Highest Level of Education: Elementary Graduate
Loan Amount (peso): 30,000.00 (638 USD)
Loan Term: 24-months

Semester Loan was Given: Fall 2015

Julieta Taburnal is a married woman with 4 children. She is a farmer and housewife seeking to get into the businesses of piggery and tailoring. She hopes to use the loan amount to expand her business, and potentially staff employees. The money will be used for a new set of pigs and a tailoring machine. So far, there are not many similar businesses nearby, providing Julieta the competitive edge on this front.

Julieta really wants to sustain her family’s needs, investing in their education, despite the fact she herself only attained the highest level of education as an elementary school graduate. Mother’s like Julieta want to provide their children the opportunity they themselves could not take. Owning the piggery and tailoring business can help her family a great deal. If the business goes well, Julieta wants to start employing others to help her with her entrepreneur project helping others in the community.

Lorie Silorio headshot

Age: 33
Business: Selling Dried Fish and Crabs
Education: College
Loan Amount (peso): 30,000.00 (638 USD)
Loan Term: 24-months

Semester Loan was Given: Fall 2015

Lorie Silorio is a married woman with two children. She hopes to use her loan to continue on with her business of selling dried fish and crabs. The money will be used towards new sets of fish meat, a weighing scale, baskets, and other necessary materials.  She plans on selling the dried fish to the Sari-Sari store. Currently, her business earns P2800.00/week. If she can further expand her business, she can further help the community.

There was recently a typhoon in the province of Philippines that Lorie resides in, and anything she can do to help the community would be beneficial to all. It takes one person’s offer to help to change a community and it can be Lorie’s contribution that can help with the alleviation of poverty in her region. Lorie is dedication to both her children and her community and a loan from GLOBE has given her the step forward to do so.

Location: Libon, Albay, Philippines
Age: 52 years old
Business: Cow Raising Enterprise
Loan Amount: $640.00
Repayment Period: 24 months

Semester Loan Was Given: Spring 2016

Rufina is a first-time borrower requesting the equivalent of 640 USD (at current exchange rates) for a cow-raising business located in Libon, Albay, Philippines. She is a married mother with six children. Her goal is to provide a steady income for her family, have her children get an adequate education, and help people in her community by offering them employment. Rufina intends to purchase two 2-3-month-old cows or better purchase them while they are still in their mother’s womb (which presents very little risk). After the purchase of the cows, Rufina will provide the infant calves the necessary medical and nutritional needs that are required to successfully raising cows. Rufina intends to raise a female cow to be a mother and in return will allow to her continue producing infant calves in the future.

Rufina intends to employ people within the community and believes that with, “the employment of other people in the community is envisioned as a help for others when our business enterprise succeeds. They too may be inspired by what we intend to do, and so we will provide them with small capital from our project so that gradually our community will progress with all the children going to school and prepare them for a good paying job”.

The loan will be repaid over a 24-month period based with 5% interest calculated on a declining balance method. Rufina Rufina asked if she could make payments on a yearly basis. Rufina will make monthly interest payments, but defer the principal until the end of each year (two installments equal to half the loan principal or $320).

Maricar Octaviano

Age: 22
Business: Bakery
Education: High School
Loan Amount (peso): 30,000.00 (638 USD)
Loan Term: 24-months

Semester Loan was Given: Fall 2015

Maricar Octaviano is a single mother of 3 kids. She has background in being a baker, specializing in bread making and other pastries. Her high school vocation also specialized in this occupational background. The loan provided by GLOBE will be used for merchandise purchases for the expanding business. Currently her business earns P500/week and there are similar businesses in the areas. Despite this potential barrier, Maricar is every bit capable of increasing her family’s income.

And by doing so, Maricar is keen to help the women sector of her community to be uplifted after super Typhoon Yolanda that hit the area in November 2014. Natural disasters sometimes cause those in impoverished regions to stumble in the way of earning income and it is up to entities such as GLOBE to give a chance to anyone who wants to make a difference.

Location: Libon, Albay, Philippines
Age: 40
Business: Store
Loan Amount (peso): 30,000.00 (646 USD)
Loan Term: 24-months

Semester Loan Was Given: Spring 2016

Maria is married with 4 children. She specializes in buying and selling palay (rice pre-husking). She is requesting her loan in order to expand her palay business and to also allocate money towards her husband’s tricycle operations. She also owns her own family-operated Sari Sari store. Maria wants this loan in order to support her children in their studies. One of the Daughters of Charity has described her to be “hard-working, honest, and a responsible woman.” With the loan, Maria can instill these types of traits in her children, whom she is working very hard to provide for. 

Location: Libon, Albay, Philippines
Age: 49 years old
Business: Grocery store
Education: High school graduate
Loan Amount: 860 USD
Loan Term: 24-months

Semester Loan Was Given: Spring 2016

Imelda is a married woman with ten children, two of who have families of their own. Imelda is requesting her loan to expand her grocery store, which is located just outside her house. She plans to stay self-employed, refraining from employing others to work with her. Her grocery store will supply household products, attracting mostly nearby residents. With the loan, she plans to raise her family’s income to keep her family happy and united.  Those in the Libon area, and in the Philippines in general, hold strong family ties. Therefore, Imelda will do whatever is needed to provide for her family. Hard work and dedication will help her with what she hopes to achieve.

The loan provided to Imelda will not only help her family, but also further contribute to the prosperity of her community. Local businesses help the Libon area to ensure income is circulating within the neighborhood, benefiting those in impoverished conditions. After partnering with GLOBE, Imelda has hopes of one day acting as a microloan entity herself, potentially lending to others in her community at reduced interest rates. 

Location: West Carisac, Libon, Albay, Philippines
Age: 39 years
Business: Food-vending
Education: High School graduate
Loan Amount: 431 USD
Loan Term: 24-months

Semester Loan Was Given: Spring 2016

Marilou L. Racines is a married woman with five children. She is in the business of food vending and requests a loan in order to purchase cooking materials to expand her business. Marilou L. Racines prepares meals in her business. The loan will be used to purchase sticky rice, coconut, sugar, root crops and fuel. Marilou is the sole proprietor of the business and she will not be employing others to work with her.

She hopes the extra income that will come as a result of attaining this loan will help her children, as it would give her means to buy them adequate supplies. Marilou has taken her loan out with GLOBE because there are others in the region who lend money, but with higher interest rates. GLOBE has decided to invest in Marilou because there are not many similar businesses in her area. Sister Gloria, a Daughter of Charity, has testified on her behalf stating that Gloria is a “serious, determined, and focused woman with a strong dedication to improving the lives of her family members.” Family is the motivating force for borrowers such as Marilou and many of our other GLOBE borrowers.

Location: Alongong, Libon, Albay, Philippines
Age: 29 years old
Business: Poultry
Loan Amount: 430 USD
Loan Term: 24-months

Semester Loan Was Given: Spring 2016

Benie Sepato is a married housewife with four children. She has had training in physical therapy, but now she is requesting a loan to create a poultry business. Despite an education and a lack of experience, she has a viable proposed enterprise, which the Finance and Risk Assessment team has approved. Benie will have the help of her family. With the help of the loan, she will be purchasing supplies such as coco lumber, bamboo, chicken wire, nails, rattan, and nipa (a form of palm). The money will also be used for labor and transportation costs, purchase and maintenance of chickens, and medical expenses. She also wishes to establish a contingency fund.

Like most of our other borrowers, Benie hopes to invest in her children’s education. Education is a keenly valued by most of our GLOBE borrowers and most of our women borrowers who are mothers want to invest in their children’s future.

Although the poultry-raising business can be seen as a lucrative business, even in the Philippines, it is still a popular and upcoming, booming enterprise. Sister Camposono, one of the Daughters of Charity in the field, has vouched for Benie deeming her to be a responsible, hardworking woman. Benie L. Sepato has the spirit and tenacity to flourish with her business, and most of our borrowers have the same level of dedication as her. 

Location: Libon, Albay, Philippines
Age: 42 years
Business: Food goods
Education: One year of college
Loan Amount: 860 USD
Loan Term: 24-months

Semester Loan Was Given: Spring 2016

LiLibeth is a farmer with five children. Her main source of income is from managing a buy/sell food goods business. With a loan, she hopes to expand her business, increasing her weekly income by $85.00. The loan will be used to buy inventory for her store such as bananas, coconuts, vegetables, dried fish, oil, and firewood. Since the events of a recent flood, the economic situation of the areas has caused significant damage to the residents. LiLibeth hopes to contribute to economic prosperity in her area, where employment is generally low and there is a lack of access to productive resources.

LiLibeth has stated, “There are people in our community who lend money but charge very high interest! When I would have enough money I will help other start business.” LiLibeth hopes her loan will help her community and family. Her goal for the business is to learn ways to solve poverty in her community. Also, she wants to learn how to unite her family through engaging them in the business.

Location: Libon, Albay, Philippines
Age: 44 years old
Business: Duck-raising
Loan Amount: 645 USD
Loan Term: 24-months

Semester Loan Was Given: Spring 2016

Jocelyn is a housewife residing with her husband and three children. She has had experience in raising ducks and wants to create a new duck-raising business. In her old business, her supply of ducks was lost in a major flood. She now has to start from scratch, with mostly money received from GLOBE. With the loan, Jocelyn wishes to resume her business. The money will be used to buy ducklings, fishnets, bamboo posts, deeds, containers, and medicine. She will, herself, be making the housing for the ducklings to grow and live. With the income earned, she hopes to allocate money towards her children’s educational expenses. Since she will be self-employed, her children will also be helping giving the family more bonding time. Jocelyn wants to show her children that they too have the potential to start their own businesses in due time.

In the area of Libon, the principal source of economic activity is from agriculture. Duck-raising is reaching traction in the region, with it being a rising industry in the Philippines. Jocelyn recognizes the potential for her business growth, but she may have to wait a year to actually turn a profit. The ducklings she will be purchasing will not be old enough to hatch eggs until they have matured. Despite time being in the way, Jocelyn’s dedication is sufficient enough to make her an exemplary candidate of being a GLOBE borrower. She can succeed like the many GLOBE borrowers before her because of her entrepreneurial spirit.

Location: Libon, Albay, Philippines
Age: 40 years
Business: Hog-raising / rice-selling
Education: High school graduate
Loan Amount: 860 USD
Loan Term: 24-months

Semester Loan Was Given: Spring 2016

Marivic is a separated mother with five children. She is separated from her husband due to his “harmful vices.”  She has previously worked as a caregiver and has done laundry services for others in her community. Now as a farmer, Marivic hopes to begin a hog raising and rice selling business. The hog-raising business is quite popular in the Philippines and her children will be aiding her with it. With the money, she wants to invest in her children’s pursuit of education.

One of her children, Marillac Grantee, volunteers with the Daughters of Charity. Marivic wholeheartedly wishes to use the loan to help her family, valuing their education. Marivic is an example of one of the many GLOBE borrowers who exemplify women empowerment, taking control of her own life and the lives of her children. She is given a chance to be the head of her household, having her children rely on her.

Cindy M. Agpaoa heashot

Location: Rendu Community Center, Pasay City, Philippines
Age: 24 years old
Business: Bag-selling
Highest Level of Education: Second Year High School
Loan Amount (peso): 35,000 (760 USD)
Loan Term: 24-months

Semester Loan Was Given: Spring 2016

Cindy M. Agpaoa is one of our first time borrowers hoping to use her loan to start a bag sewing business. She has had training in baking cakes and pastries, but possesses a skill set in bag sewing. She is married with three children, but due to health issues, her husband is currently not working, making Cindy the sole-provider for her family at the moment. It is usually because of health issues that most borrowers are incapable of working or sometimes incapable of paying a loan back on time.

Nonetheless, Cindy is dedicated to starting her business. Cindy believes her business will boom because Pasay City is a tourist spot. The urbanization of the city would allow for her to reach a targeted marketing segment of tourists to sell bags to. Cindy hopes to establish a relationship with the Food for Life organization, who can potentially be a buyer of the bags. Cindy is very dedicated to lifting her and her family out of poverty, like most female borrowers, and her feasible business plan has the utmost potential to do so. With a loan from GLOBE, Cindy has a greater chance to be financially responsible and independent which brings us one step closer to alleviating poverty.

Angelito Roscano headshot

Location: Rendu Community Center, Pasay City
Age: 33 years old
Business: Tricycle-driving
Highest Level of Education: Third Year High School
Loan Amount: 1603 USD
Loan Term: 24-months

Semester Loan Was Given: Spring 2016

Angelito Roscano is a 33-year-old male with five children. He has held jobs as a tricycle driver, construction worker, vendor, and farm worker. His highest level of edication is attending third year of high school. Angelito is requesting a loan for his transportation services, mainly for a tricycle business. His wife is currently not earning any income, so Angelito is the sole provider for his wife and five kids. Angelito has the hopes of eventually possessing his own transportation business to invest in both his family and maybe in other business ventures.

Angelito and his family currently live in extreme poverty as they have low-level income and also lack a place of residence. The family current lives in the Rendu Community Center in Pasay City, where the area is very congested with locals. Pasay is also a tourist spot, so Angelito’s business has the utmost potential to prevail because of the high demand for efficient travel around the city. If all goes well, Angelito and his family can pull themselves out of their level of poverty and possess their own place of residence.

With the loan, Angelito purchased the necessary items to begin work as a tricycle driver, using $1068 for a motorbike and $320 for a sidecar.  The remainder of the amount is for other initial expenses. Our Finance team was not skeptical in giving this loan because he has the necessary experience as a tricycle driver.

Age: 46 years
Region: Libon, Albay, Philippines
Business: Farming, Rice and Vegetable Raising
Loan Amount and Term: 30,000 PHP = 645.60 USD over 24 months
Marital Status: Married
Number of Children: Five
Highest Level of Education: High School Graduate

Semester Loan Was Given: Spring 2016

Ludicia is a first-time borrower who requested 645.60 USD for a Rice and Vegetable raising business located in Libon, Albay. Her goal is to provide a steady income for her family and sustain their needs. She requested that the loan is spread over a 24-month term, and indicates that she can afford to pay every four months, with the equivalent of a monthly payment of up to $32.86. Given Ludicia’s current occupation as a fish vendor, she earns a relatively low income, which can be expanded if she pursues her new business plan. Agriculture is the biggest industry in Albay. The province is characterized by the fertile plains and farming climate. The plains of Albay would allow Ludicia to have a profitable and growing farming business of rice and vegetables. Some crops raised in this area include coconut, rice, sugar, and many more vegetables.

Ludicia plans to implement her knowledge in modern farming to succeed and earn a suitable annual income for her family. Also, she plans to share and extend her knowledge and skills to other local farmers to increase the sustainability of farming in the community.

The finance team in Spring 2016 believed that an entrepreneur like Ludicia is someone who has displayed a well-developed and disciplined project proposal for her intended business. She has portrayed great qualities of determination and trustworthiness. The Daughter of Charity has mentioned that Ludicia is motivated, hard-working, and responsible. GIven her social and economic ideologies, she will be an empowering leader within her local community and will make great changes in the Philippines.      

Age: 43 years
Region: Libon, Albay, Philippines
Purpose of Loan: Farming, Vegetables (eggplant)
Loan Amount and Term: 40,000 PHP = 860 USD 12 months, paid monthly after the first two months
Highest Level of Education: 3rd Year High School
Training/Special Skills: Farming

Semester Loan Was Given: Spring 2016

Vilma is a first-time borrower requesting 860 USD for an eggplant farming business located in Libon, Albay. She is a married mother of six children. Her goal is to provide a steady income for her family and allow her children to complete their studies. Her oldest daughter is currently studying to become a teacher.  The loan will be spread across a 12-month term with monthly payments of $73.62 USD.  Vilma’s household earns an additional $5170 USD, which will help her to repay the loan on in a timely manner. Agriculture is the biggest industry in Albay. Libon is characterized by the fertile plains and farming climate. These plains of Albay would allow Vilma to expand a profitable eggplant farming business.

Vilma plans to hire 6-8 people to help her prepare the land for these farming activities. Vilma has indicated that she would be able to repay the loan within one year. This will allow her to earn an income through the farming business within the season and then repay the loan in a timely manner. Included in her project proposal are specific tools that need to be rented including tractors and transplanting tools. Also, the seeds will be purchased along with necessary fertilizer and pesticides.

An entrepreneur like Vilma is someone that has displayed a well-developed and disciplined project proposal for her intended business. Vilma portrayed great qualities of determination and trustworthiness. Vilma is motivated, hard-working, and responsible. With her social and economic ideologies, she will be an empowering leader within her local community and will make great changes in the Philippines.