Micro-Enterprise Report from Iquitos, Peru September 2008

I would like to express our gratitude for this past year that we have had the Change4Change loans going.

We have seen a lot of people helped in many ways. We know that there are many people who have given and thus been a blessing to the needy here in Peru. We wish to give our thanks and acknowledgement to each one who has given for this project here in Iquitos.

Twenty-four individuals are now benefitting from this initiative, each receiving $100-$170 with which they have been able to begin their own micro-businesses or have been able to increase the products for sale, thanks to the capital provided by Change4Change. People, who were living on literally no income, today are receiving one that is empowering them to meet their basic day to day needs.

Beneficiaries:

1. Alberto Bardales Guerra
2. Greissi Navarro
3. Jorge Valles Amaringo
4. Alberto Sepulvera
5. Willmer Padilla Alvarez
6. Enrique Viena Mozombite
7. Merlene Rodriguez M.
8. Silvia Navarro Veintemilla
9. Judith Arbildo Izquierdo
10. Hercules Gutierrez Del Aguila
11. Ana Gutierrez Perez
12. Julio A. Bardales Pezo
13. Clara Chamorro Mendoza
14. Ramon Cisneros Linares
15. Lilia Arirama Yahuarcani
16. Milagros Perez Vasquez
17. Casilda Valles Lomas
18. Francisco Cabrera G.
19. Liliana Duran Arbildo
20. Nilda Cabrera Gutierrez
21. Nelson Yahuarcano A.
22. Daniel Chavez Arellano
23. Sorina Mercedes Pacaya
24. Oswaldo Inuma

We have had several cycles of Micro Enterprise loans and things have gone pretty well. Unfortunately we have had 5 people who have stopped paying on their loans for a total of approximately $350 in bad loans. We have, however, despite the unpaid loans, and with the interest charged been able to increase the capital being invested to approximately 40%
more capital.

Presently 24 people are benefitting from the 10 people we started with at the beginning. We now require that they leave something of value before getting the loans and keep it until they finish paying. We have found it is much better to have them convinced that they want the loan enough to bring in something then later try to go to their home and take something from them.

5 Case Studies

Case Study 1

Name: Greissi Navarro

Business:  Selling Cokes and Ice
Loan:  sl.300 or slightly more than $100
Repayments:
Cycle:  3 months
Quantity:  12 weekly payments every Sunday pm
Total repayment plus interest and savings:  $140

History

Greissi is a young wife and mother of four children.. She was unable to help her husband much in business because of her four small children needing her care, but desired to help provide income for the growing family. She sells Cokes and ice from her living room.

Greissi shares her appreciataion, “Well, this business is going well for me. I have many clients which help me cover the needs of the house and my daughters. I also want to thank those people who have made these loans possible.

Case Study 2

Name: Nelson Yarhuarcani A.

Business:  Barbershop
Loan:  Sl.300 or $100 +
Repayments:
Cycle:  3 months
Quantity:  12 weekly payments on Sundays
Total repayment plus interest and savings:  $150

History

Nelson lives with his mother and sisters helping provide for the whole family together with
his brother.

He shares his thanks for Change4Change, "I have, thanks to the loans from Change4Chnage a barbershop where I can also sell candies and goodies. I give thanks to you because this has been a blessing to me and has opened doors for me.t. Thank you very much!"

Case Study 3

Name: Nilda Cabrera Guitierrez

Business:  Making aguaje drink paste to sell to a popcicle company
Loan:  $170
Repayments:
Cycle:  3 months
Quantity:  12 weekly payments
Total repayment plus interest and savings:  $278

History

Nilda is a single mom with three children and little education or chance for job placement. MED has helped her to provide a roof over their heads and food in their tummies. She gratefully shares her story.

"Since I received the loan, I have been able to increase (multiply) my business. I bought more tubs and equipment. What I do is buy sacks of Aguaje (palm tree fruit) and let it mature. I then use it to make a paste and sell it to the Shambo company that makes and sells national popcicles. I am very grateful for the help that Change4Change give us. For all of us who have humble means, this is a great blessing and we are seeing the results."

Case Study 4

Name: Liliana Duran Arbildo

Business:  Making and selling food
Loan:  $135
Repayments:
Cycle:  3 months
Quantity:  12 weekly payments
Total repayment plus interest and savings:  $178

History

Liliana has several small children and her husband works away from the city. He goes out for 20 days at a time and then he is home for 7 days. This business gives her something to live on while her husband is working elsewhere. She has a small store in her living room where neighbours come to buy needed items.

She shares, “I give thanks to those that have given this help because they have helped me in my home and in helping my husband pay the bills..”

Case Study 5

Name: Lilia Arirama Yarhuarcani

Business:  Making and selling food
Loan:  $100
Repayments:
Cycle:  3 months
Quantity:  12 weekly, Sundays
Total repayment plus interest and savings:  $174

History

With the Change4Change loan she makes breakfast and sells it to clients in her neighborhood on the sidewalk with success. Her married daughter lives with her, and uses her Change4Change purchased supplies to make supper for neighbors, therefore receiving
double benefit.

TESTIMONY:

With A Change4Change loan she makes breakfast and sells it to clients in her neighborhood on the sidewalk with success. Her married daughter lives with her, and uses her Change4Change purchased supplies to make supper for neighbors, therefore receiving double benefit.

Lilia says, "My business is going well. Since I received the help from Change4Change I have seen my finances increase. I give thanks to those who have given toward Change4Change, this business has given me a real opportunity".