How MicroLoan Foundation has been able to help Grace
Tuesday, May 11th, 2010 | Uncategorized
Grace is a 38 year old married woman. She used her current loan to buy tobacco and fish. To find fish at a good price, Grace travels to a market that takes her 3 day to make the return journey.
As she lives in a remote area she has to walk long distances to sell the fish direct to other households. Her husband helps with the business and looks after the children when she is away working.
Some information on Grace
Number of dependents: 6
Number of orphans: 2
Business type: Sells fish; grows and sells tobacco
Income before first loan: K3,000 (A$23) per week
Net income now: K6,875 (A$53) per week
Original loan size: K10,000 (A$77)
Current loan: K40,000 ($300)
Time in programme: 16 months
How has MicroLoan helped you?
Having the loans has helped me care for two orphaned grandchildren as well as my own children. Before the loans the children were often only eating one meal a day; now they eat lunch and supper every day.
What problems has your business faced?
The business is going well, but it is hard work. I sometimes find it difficult to repay the loans every two weeks but I have always managed to get by.
What plans do you have for the future?
I would like to move closer to the market as it is very difficult walking so far for everything. I would like to open a grocery store, and to make enough money for my children to eat three meals a day.
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