Meet Microfinance Loan Recipients   

Each of the following entrepreneurs received a microfinance loan from one of HopeSings financial partners.  With determination and a small “hand up”, they were able to create self-sustaining businesses in their communities.

Patricia Palle, La Paz, Bolivia 
Microentrepreneur- Recipient of loans from ACCION

Five years ago, Patricia found herself a single mother with a new baby.  But she had a knitting machine and a talent for making beautiful alpaca sweaters, which she sold to both native Bolivians and tourists.  With a $200 loan from ACCION, Patricia stocked up on yarns and other materials.  A subsequent loan enabled her to purchase a second knitting machine and increase production.  Today, with 2 additional loans and more machines, she employs 3 women, and has almost outgrown her tiny workshop.  Patricia is not only self-supporting, but provides employment and skills for other women in her community.

Ana Osoria, Honduras    
Microentrepreneur- Recipient of loan from FINCA’s Village Bank

As the mother of 8 children, Ana made cheese to supplement her husband’s small income as a miller.   She could only afford to buy raw milk in tiny quantities, limiting her revenue.   With a loan of $105, from the local bank, established by FINCA, Anna was able to buy a greater quantity of raw material at a much lower price, and increased her business.  She expanded again with a second loan of $210, and her profits have quadrupled.   Now she is able to afford to feed her children a more balanced diet, as well as purchase books and schools supplies for them.  Two of her older daughters are employed in her cheese-making enterprise. 

Mujeres Alegres Group, Paraguay
Entrepreneurial committee-Loan recipients from KIVA

This group of 16 women, in a small town in Paraguay, banded together to form an entrepreneurial group to open a small general store-- to serve their community with necessities and also to provide an income.  Their loan of $1800 enabled them to stock the store with quality items.  The group is renown in their town for its commitment to the community, shared responsibility and caring for each member.   They are in their first loan cycle.  Each of the group members is responsible for the repayment of the loan, and for the success of the business.

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