Microfinance for marginalized communities, Mexico

 
$33,677
$6,323
Raised
Remaining
Mar 31, 2011

March Update Report - “To infinity and beyond"

Community bank members
Community bank members

In March, the IMIFAP “I want to, I can” microfinance project has been incredibly successful, and the microentrepreneurs in Hidalgo in particular have grown their businesses remarkably. Also amazing are the advances that have been made in the 5 community banks in Hidalgo that were created as a result of neighboring communities’ successes, and how the members have used the loans from the community banks to create and expand their businesses.

Community banks:

-       “La Unión” in Molango, Hidalgo: 20 members, total savings of 33,358 pesos (2,800 dollars) of which 29,000 pesos (2,434 dollars) have been loaned. Printing business.

-       “Ban Sanbers” in San Bernardo, Hidalgo: 20 members, total savings of 4,385 pesos (368 dollars) of which 2,000 pesos (168 dollars) have been loaned. Food stall business.

-       “Emprendiendo” in Tolago, Hidalgo: 23 members, total savings of 4,440 pesos ($373 dollars) of which 2,500 pesos (210 dollars) have been loaned. Pig raising business.

-       “Un Nuevo Amanecer” in El Suspiro, Hidalgo: 14 members, total savings of 20,500 pesos (1,720 dollars) of which 19,200 pesos (1,611 dollars) have been loaned. Bakeries, food stores, fish farming, animal raising and butcheries.

-       “La Esperanza” in Coamaple, Hidalgo: 10 members, total savings of 17,000 pesos (1,430 dollars) of which 1,500 pesos (126 dollars) have been loaned. Expansion of pig raising to include pig breeding.

We are particularly excited about the project in Molango, which is the largest one, and was developed out of the community’s recognition of it being a good investment. The plan involves the creation of a printing business that deals with printing cards, bags, canvas and other products. Given that such a service didn’t previously exist in the community, and based on their business plan, they believe it will be very successful.

All these projects are the result of community planning, which is why we are very excited to keep supporting them and encouraging their development. Let’s continue to support these communities: with your help, their growth continues to be possible!

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En el mes de marzo, hemos tenido un enorme éxito en este proyecto de microfinanzas de IMIFAP “Yo quiero, yo puedo”, y las personas en las comunidades en Hidalgo en específico han crecido sus negocios de manera importante. Es increíble el avance que se ha logrado en los 5 bancos comunitarios creados a raíz del éxito de otros en comunidades vecinas, y cómo los socios han utilizado los préstamos de los bancos comunitarios para crear y expandir sus negocios.

Bancos comunitarios:

-       “La Unión” en Molango, Hidalgo: 20 socios, ahorro total de 33.358 pesos de los cuales han prestado 29.000 pesos. Negocio de imprenta (ve abajo para más detalles).

-       “Ban Sanbers” en San Bernardo, Hidalgo: 20 socios, ahorro total de 4.385 pesos de los cuales han prestado 2.000 pesos. Negocio de comida.

-       “Emprendiendo” en Tolago, Hidalgo: 23 socios, ahorro total de 4.440 pesos de los cuales han prestado 2.500 pesos. Negocio de cerdos para engorda.

-       “Un Nuevo Amanecer” en El Suspiro, Hidalgo: 14 socios, ahorro total de 20.500 pesos de los cuales han prestado 19.200 pesos. Panaderías, tiendas de abarrotes, negocios de cría de peces, de engorda de animales y carnicerías.

-       “La Esperanza” en Coamaple, Hidalgo: 10 socios, ahorro total de 17.000 pesos de los cuales han prestado 1.500 pesos. Negocio de engorda de cerdos en expansión a cría de porcinos.

Estamos particularmente emocionados por el proyecto en Molango, ya que es el más grande de todos, y fue un plan desarrollado a raíz del reconocimiento de la misma comunidad de que es una buena inversión. El plan consiste en la formación de una empresa de imprenta de tarjetas, bolsas, lonas, y productos afines, servicio que no existía previamente en la comunidad y basado en su plan de negocios creen que será muy exitosa.

Todos estos proyectos son producto de la planeación de los miembros de las comunidades, por lo que estamos muy emocionados por seguir apoyándolos y alimentando su desarrollo. Sigamos apoyando a estas comunidades, ¡con tu apoyo, su crecimiento sigue siendo posible!

Pig raising business
Pig raising business
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Map of Microfinance for marginalized communities, Mexico