Warm greetings and thank you very much for your kind support to our project providing loans to poor entrepreneurs. Utilizing open spaces in the homes and then training the beneficiaries to grow a variety of high-valued herbs and root crops is an addition to our menu of support in order to improve the enterprise of poor beneficiaries here. I realize that they already have plenty of available local resources such as soil, water, waste from the farm and kitchen as organic fertilizer and aided by the light of the sun this is a potent combination for a sustainable garden. In order to spread our resource, each of our target beneficiaries receive an average of pesos 2,000 (USD $40) payable in 90 days, which is the growing cycle of most vegetables. This reporting period we are able to disburse loan fund good for 150 beneficiaries. The repayments will be recycled as they come in.
Thank you very much for your generous support to this important initiative.
Warm greetings and thank you very much for your generous support to our initiative to provide livelihoods for poor entrepreneurs. This reporting period we continue to expand our work animal-based business enterprise for poor farming families. The work animals comprising water buffalo or cow is used for hire in the farms of other farmers earning income for the animal raiser/project partner. The partner pays the animal either in terms of offpspring if it is female or by monthly amortization if it is male. In this way the partner earns income aside from the fact that he got to use the animal in his farm and expand his own farm activity.
This reporting period, we are able to provide 5 families with one water buffalo each.
Hoping for your continuing support to this project.
Warm greetings and thank you very much for your support to small business here. Our project is going very well with the deployment of 2 community volunteers in the area. The volunteers assess and validate new loans, collect on-going loans and help educate beneficiaries on ways to expand and improve their initiative. This reporting period, we focus on providing farm-based loans by providing small animals such as chickens, goats and ducks to qualified beneficiaries with the aim of collecting offspring as repayment and then releasing this to new beneficiaries. We inputted a 2% interest on the loans and compute this via the offspring as repayment.
We have already an initial of 20 first batch clients for this and hope we will be able to increase the number in the coming months.
Warm greetings and thank you very much for your generous support in order for us to assist small, poor entrepreneurs who are almost always, due to lack of capital, borrow from loan sharks and at the mercy of them. We conduct thorough background check and assessment of a potential borrower in order to minimize default to almost zero. Last reporting period we were able to provide 19 loans to 19 borrowers and during this time we are able to add 26 more. Good to note that we got a bonus of 2,000 British Pounds from the Christmas Giving campaign and this provide us with a big boost as we start the new year. We are focusing our support to Subanen Indigenous People living in the mountains of the municipality of Sergio Osmena. We will also expand our work this year with the Higaonon Indigenous People in Misamis Oriental. Both are mostly small-scale farmers and artisans and credit to start or expand farming and small business for them is hard to come by.
Warmest greetings from WAND and thank you very much for your generous donations to jump-start this initiative to assist small business for poor entrepreneurs. Thanks so much too for TCP - Global for providing the initial pump-priming fund. To date we were able to provide support to 19 clients, with loans of 16 of them coming from the initial amount while 3 comes from repayment already. Businesses supported ranges from motor transport, small store, gardening, raising of small animals such as goats and pigs, repair of fishing boat and tool for carpentry.
Repayment is done monthly with 2% interest rate. Repayment so far is 100%.
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