Monday, March 28, 2011

Micro Financing

Today we had the opportunity to go and visit a lady that Vlady has been working with for a couple years. She has come a long way... When we were first introduced to her, she was looking for a grant of $1000... she has a small house beside the Bazaar, and wants to have a store there to support her three kids.. She thought that if she had $1000 she would be all set . I asked how big will the store be... as big as she can get for $1000 was the answer... what will she sell ? ....It depends on how big the store is.... Not a great business plan... I told them that there would need to be a lot more to the plan before we could help her.. Today we met with her, and I was very impressed with the work that has been done.. She has turned her living room into a small store ( they all now live in a room that is 6 feet by 8 feet..including cooking area) The store is well stocked and is producing enough income that she knows she can afford to pay $40 a month on a business loan... She has plans and a price for the store to be built on the front of her home, and has even submitted them and received government approval.. all the documents are in order ..
The cost for this project will be $2000.. a much more realistic figure . Vlady can over see the construction, and she would also be willing to have us help her with some business training.

Our hope is to find a sponsor that would like to provide the $2000. It would be paid back at a rate of $40 a month with Zero interest.. and just to sweeten the deal for any one that might be interested, we would like the $40 a month paid to Dayspring to help sponsor a bed...

We will stop back out there again in the next couple days and get some photo's .. you would not believe the waay they are living now.

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