[CMP]: Kiva Loan Update – January 2012

by Tom on January 11, 2012

Happy New Year to all of you in the blogosphere! Here’s to getting off to a positive and energetic start in 2012.

Who We’ve Helped

Thanks to several generous patrons, the Choro Music Project invested in five more Kiva loans since the official launch just before the end of the year! That brings the total to $180 invested in 8 loans made to 8 solo entrepreneurs or community groups in 8 different countries. The CMP has expanded its portfolio beyond arts and crafts, and has now invested in electronics and bicycle repair and chocolate making!

Here is our update for January 2012, complete with some photos of the people you’ve helped around the world during the last month. I hope you enjoy learning about them as much as I enjoyed writing about them. If you’re interested in keeping up with the CMP, please subscribe to the free monthly e-newsletter over on the right or follow me on Twitter. Thanks again for your support!

Photo of Flor de Lipe Group

The Flor de Lipe Communal Bank in La Paz/El Alto, Bolivia consists of eight members, headed by a woman named Cristina (far left). The field partner lending to Flor de Lipe is Pro Mujer. Cristina buys and sells twine and rope in the street markets for a living. The loan will help her increase her merchandise to support her family of five children.

Photo of Rafael

Meet Rafael from Choloma, Honduras. Rafael has been repairing various electronics including TVs, radios and fans since he was a boy, and has turned those skills into a business over the past four years. The loan will help Rafael buy and repair electronic devices in poor condition to stock his inventory. Rafael’s business supports himself, his wife Ana and her two daughters, and his goal is to grow his business and make a better life for his family.

Photo of Duo Cosechando

The Duo Cosechando Bendiciones in San Pedro SacatepĂ©quez, Guatemala consists of two women. Ingrid Josephina (at right) has been working in her retail clothing business for several years and is grateful to the support she’s received from her parents. Their Kiva loan will go toward purchasing clothing for resale during the end of the year season, their busiest sales period.

Photo of the Santa Rosa Group

The Santa Rosa de Yanacoto Communal Bank in Chosica, Peru consists of nine members. Pamela (back row right, fuschia polo shirt) has been making chocolates to sell for over two years. Her business has allowed her to complete her studies in hotel and tourism management. Pamela hopes to also set up a juice bar in her home in addition to selling chocolates, in order to save money toward future studies in architecture at a university. Her Kiva loan will be used to purchase milk, sugar, vanilla, lard and decorative boxes for her chocolate making, particularly around the busy Christmas season.

Photo of Leonardo

Last but not least, meet Leonardo Antonio in Medellin, Colombia. Leonardo’s bicycle repair business started in his home. It has extended to a small nearby shop during the last two years to include bicycle repair and sales. Leonardo’s business supports himself, his wife, and their 14-year-old son who wishes to finish his studies and become a professional. Leonardo’s Kiva loan will be used to purchase bike repair supplies to meet his varied customers’ needs.

4 comments
AnnieAndreHacks
AnnieAndreHacks

It's astounding that such small loans can be so beneficial to others. Loved the bio of all the recipients.

Tom Pinit
Tom Pinit moderator

@Lorilee Hi Lorilee, yes it does! Love Kiva. Thanks for stopping by!

Tom Pinit
Tom Pinit moderator

@AnnieAndreHacks Hi Annie, thanks for your comment. Even in today's terrible economy, the dollar is still worth quite a bit in many third world countries. The power of many microinvestors banding together with their $25 loans. This coupled with the repayment and subsequent reinvestment, making each dollar virtually "permanent", that's what I really love about Kiva. Thanks for stopping by!

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