By Colette Bailey | SOS Loan Fund Manager
The SOS Loan Fund continues to reinvest all loan repayments into new businesses! One of the loans that the SOS Loan Fund supported and has paid back in full you will find at the end of this report. I would like to say, what mom wouldn't be proud of her 22 year old child who was as responsible as the borrower! Thanks again for helping Jairo and other borrowers like him make their lives a little better by giving them access to fund to improve their businesses.
Jairo is 22 years old and lives with his mother. They live in Las Chacras, in the canton of Rocafuerte, a city, which on the night of April 16th, was affected by a strong earthquake, which destroyed a large part of the city. Jairo and his mother were also affected since some of the walls in their house were badly damaged and cracked. Very afraid, Jairo and his mother continue to live there in spite of the place becoming unsafe.
Jairo has a business selling clothing, which has been impacted, because as a result of the earthquake, trade halted and he was unable to work for a few days. From then on, sales have fallen a lot.
He really want to progress with his business, this is why he is requesting a new loan to invest and this way, continue to support his mother as he has always done.
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