Micro-credits for Baru Island entrepreneurs

by Fundacion Hernan Echavarria Olozaga
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Micro-credits for Baru Island entrepreneurs
Micro-credits for Baru Island entrepreneurs
Micro-credits for Baru Island entrepreneurs
Micro-credits for Baru Island entrepreneurs
Micro-credits for Baru Island entrepreneurs
Micro-credits for Baru Island entrepreneurs
Micro-credits for Baru Island entrepreneurs
Micro-credits for Baru Island entrepreneurs
Micro-credits for Baru Island entrepreneurs
Nady Luz
Nady Luz

Dear Donors,

Once again we would like to thank you for your generous donations through Global Giving to the Project “Micro-credits for Baru Island entrepreneurs.

We are happy to announce that on June we granted 4 new credits to entrepreneurs interested, after they applied, worked on their business plan and presented their project to the credit committee.

4 new beneficiaries started to work with us. Their businesses are: 2 restaurants, a handcrafts store and a candy shop.

These 4 new businesses supported, benefit a total of 17 people from the beneficiaries’ families and generate 6 new jobs.

With these 4 new entrepreneurs, we are currently working with a total of 13 small businesses in Baru Island that have an average income of $630.000 each.

In addition to the given information about the progress of the project you have supported, in this opportunity we would like to tell you a little bit about Nady Luz, one of the 4 new beneficiaries of the project.

Nady owns a candy shop in her home. She opens every morning from 7 AM till 7 PM. Her main costumers are the school students that walk by her house on their way to school.

With the incomes from her shop, she helps her husband and parents with the house bills.

Nady is a mother of a 4-year-old boy. She says that what she likes the most about her business is that she can work as she takes care of her son. This way she feels helpful and complete.

We invite you to continue to work with us in order to achieve our total funding goal.

We will continue to send you regular reports to let you know the progress of the project you have supported.

With gratitude,

 

Ana Milena Ordosgoitia M. and the Hernán Echavarría Olózaga Foundation team

Candelaria
Candelaria

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Arelly
Arelly

Dear Donors,

In our third report we would like to start by thanking you again for your generous donations to the project through Global Giving, all of which have definitely changed the beneficiaries and their families’ life.

The businesses supported have generated 6 new jobs, which have contributed with the economic growth of the community.

On the other hand, we are happy to inform that in May we will start the process to select new beneficiaries. Our goal is to support at least 4 new businesses after the process that would include: informative talks, documentation and home visits.

Finally, we would like to share with you Arelly’s story, who received a loan last year to invest in her food business.

Arelly is 51 years old; she lives in Baru town and has been working in her business for 20 years now. She currently lives with her 16 years old daughter, who depends economically from Arelly and who helps her with the business accounts. Arelly proudly relates that her daughter will graduate from school next December. 

She invested the money she received from the credit in working capital so that she could give their clients time to pay for the food she was cooking.

Nowadays she sells breakfasts and lunches to the workers of a construction project near Baru. This represents a fixed income for her every month.

When she have big orders, she calls 2 women from the community to help her, so she is generating 2 new jobs.

As the profits are increasing, she recently invested with her sister in clothes to sell.

Her goal is to have her own restaurant.

Thanks to all of you, to your constant support, the project has really impacted Arelly and her family’s life.

For us in the Hernan Echavarria Foundation, it has been a great opportunity to learn from her commitment and desire to succeed no matter the sacrifices this might imply. This is an incentive for us to keep working.

We invite you to continue to work with us in order to achieve our total funding goal.

With gratitude,

 

Ana Milena Ordosgoitia M. and the Hernán Echavarría Olózaga Foundation team

Arelly at home
Arelly at home
Arelly during the monthly visits
Arelly during the monthly visits

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Juan's business and investment in new life vests
Juan's business and investment in new life vests

Dear Donors,

¡Happy New Year! In this 2016, we hope to continue, with your help, working with the most needed people of Baru Island.

First of all, we would like to thank you again for your generous donations to the project "Micro - credits for Baru Island entrepreneurs". 

In our second report we would like to start by telling you that on December 2015 we granted 3 credits, 2 of them to new beneficiaries (Candelaria and Arelly) and 1 to an old beneficiary (Juan) who has shown commitment and has invested the money to grow his business.

A total amount of COP $6.100.000 was given to 3 entrepreneurs that applied to the micro-credit’s project in Baru Island.

Our goal in this New Year is to grant 4 more credits and to continue with the monthly advisory meetings.

Finally, in this report we would like to tell you about Juan, an old beneficiary that has recently received a new credit to continue to grow his life vests and snorkel gear rental business in Playa Blanca.

During the end year meeting the Foundation always celebrate with all its beneficiaries, Juan who received a special award because of his effort and commitment, said to all the beneficiaries present: “I am very grateful to the Foundation for all the support it has given me for my business and I can give testimony that you can move forward, we all can, if we really want”.

For us in the Hernan Echavarria Foundation, it has been a great opportunity to learn from him. His desire to succeed is an incentive for us to keep working.

We invite you to continue to work with us in order to achieve our total funding goal.

With gratitude,

 

Ana Milena Ordosgoitia M. and the Hernán Echavarría Olózaga Foundation team

Our new beneficiary Candelaria (dressmaker)
Our new beneficiary Candelaria (dressmaker)
Our new beneficiary Arelly (restaurant)
Our new beneficiary Arelly (restaurant)

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Interested entrepreneur filling the credit form
Interested entrepreneur filling the credit form

Dear Donors,

First of all, we would like to thank you again for your generous donations to the project "Micro - credits for Baru Island entrepreneurs". 

Even though we have raised so far USD 145, we are confident that with your help we would soon reach our funding goal of USD 16.775,  to keep helping people in Baru Island.

The following is a brief summary of the progress of the project, you have supported.

 The Hernan Echavarria Foundation team worked on the following project schedule:

1. October 29 - November 3: Information about the project to the community through different ways such us boards, newsletters and the community microphone.  

2. November 4 - 9: Term given to the interested people to register, by bringing to the Foundation's office, the credit application form, a copy of their ID and of their cosigner ID.

3. November 23 - 25: Visits to the preselected entrepreneurs and support in developing their business plan.

4. November 26 - 27: Credit committee and disbursement.

5. November 30 - They all finish to pay for their credits: Monthly visits and advisory meetings.

As we planned, from October 29 till November 3 we informed the community about the project using boards pasted in the schools, streets and main plaza. Also by giving newsletters.

Until November 9, we received the application forms and documents. In total, 9 entrepreneurs from Barú and 5 from Santa Ana applied.

Our team in currently  verifying the documents to start with the visits and to help the preselected applicants with their business plans. 

We invite you to continue to work with us in order to achieve our total funding goal of $16.775.

We will continue to post regular reports to keep you informed on the project progress.

With gratitude,

 

Ana Milena Ordosgoitia M. and the Hernan Echavarria Olozaga Foundation team

Giving information to interested entrepreneurs
Giving information to interested entrepreneurs

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Organization Information

Fundacion Hernan Echavarria Olozaga

Location: Bogota / Cartagena, Cundinamarca/Bolívar - Colombia
Website:
Facebook: Facebook Page
Project Leader:
Ana Milena Ordosgoitia
Bogota, Cundinamarca Colombia
$1,829 raised of $16,920 goal
 
66 donations
$15,091 to go
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