Micro-Entrepreneurs impacted by Robert Kennedy College
Borrower Name : Tino Lavea
Village/Centre : Safotu
Loan Amount : 1000 ST, 400 USD
Repayment Term : 12 months
Business Sector : Food
Business Activity : Food Production
Loan Use : Purchase frying pan, spoons, flour, baking soda, forks, etc.
Tino Lavea, 65, is married with eight children and lives in the village of Safotu, Sevaii. She has two years of experience in the ‘pancake’ business and she sells to villagers and the village school four days per week. Tino has no previous loan(s) with SPBD and she will repay her first 1000 ST (~400 USD) loan over a period of twelve months. The expected weekly net cash flow from the pancake business is 200 ST (~80 USD). SPBD loans are Tino’s only access to capital because she was never able to qualify for a loan at a traditional bank. Tino will use the loan to purchase the equipment and ingredients, including frying pans, spoons, forks, flour, and baking soda, that will enable her to grow and maintain her pancake business. She will use a portion of the proceeds from the business to improve her family plantation.
Tags: kiva, loans, microcredit, microfinance, robert kennedy college, Safotu, tino lavea
Like you I was disappointed. Not by US loans but by the introduction of what I regard as special privileges, No $200 loans for these ‘jumbo’ borrowers, they get fifty times the amount and often for three times as long. It seems there are now two classes of borrowers on Kiva.
I complained to Kiva, wrote letters, blogged but to no avail. There are alternative micro-finance sites and I have been much happier since finding one closer to my ideas of micro-finance – small loans, focus on third world poverty.
Kiva have made a smart move and is picking up more money from the US. Small scale sites like http://www.UnitedProsperity.org have also benefited, as new users have signed up. All in all, everyone wins.