Financing Ma Teresa's business on Kiva.org
Posté le 28 mai 2018
Kindleggings is proud to tell you about our first impact investment.
Ma. Teresa is 46 years old, and in a common law relationship with two children. Her husband works as a welder at his brother's shop and relies on a per-commission income. Owing to the irregularity of his income, Ma. Teresa has sold used clothing for 3 years now and this business has helped her and her family meet some of their needs.
Over time, her stall has been frequented not only by her neighbors but also by residents from nearby villages. With the summer, she has gotten requests from her customers to sell summer clothes and swim wear. She is thus requesting a loan of 5,000 PHP (100 USD) to buy both brand new and pre-loved shorts, blouses, and bathing suits to sell to her customers.
Ma. Teresa is hopeful that this amount will help her increase her stocks and be able to buy used clothing in bulk in order to also save costs related to transporting the goods and get discounts for the bulk purchase. She hopes to set aside some savings for her to build up her capital.
For this loan we have partnered up with SEED Center.
Seed center is a microfinance organization in the Philippines that operates in the metro Manila area. In addition to loans, SEED provides insurance and saving products and operates several socio-economic programs addressing the needs of its clients, including financial literacy classes and family/health trainings. About 90% of SEED's active borrowers are underprivileged poor living in depressed, urban areas.
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