MICROLOANS IN SABANA
YEGUA
Florinda RamÃrez has a very small shop. Even though it’s not
yet her dream business, she is getting income to help her big family. She sells
the basic food for the typical daily meal in her small community: salt, rice,
spices, tomato sauce...plus some chicken on a good day. She also sells a few
convenience items, such as candy and bagged snacks, that are special treats to enjoy from time to time.
Florinda is part of a group of 25 women who are receiving
microloans of around 250 USD, which are expected to be paid back in less than a
year. They all have small businesses like beauty shops and shops selling food
and clothing. Importantly, through these small loans, these enterprising women
have entered into the credit system with the bank, the beginning of an
important business relationship. The women operate collaboratively within a
support group of five per village community. They have been able to acquire
more products to expand and improve their businesses and are making their payments
in a punctual manner. Additionally the 25 women have participated in a course
about starting small businesses, facilitated by INFOTEP (a Government
organization), whereby they have deepened their knowledge necessary to manage a
small business. For example, all of these microloans were initiated by the
preparation of modest business plans.
