Mercy Foundation Funds Microloan
Here is Eduardo’s Story
The Mercy Foundation funded a microloan to Eduardo, a farmer from Peru. The district of Cañaris, in Ferreñafe province, Peru is where Eduardo and his children call home. Here is Eduardo’s story of how a microloan has helped his business flourish. Having worked in agriculture for 16 years, the 37-year-old coffee farmer has very good personal and professional relationships with local residents. In the 16 years he has been farming, Eduardo has become an expert in coffee cultivation. Recently, he approached EdpymeAlternativa for a loan. The loan would help him pay for fertilizers, the application and integration of plant sanitation products, and farming work. He hopes the loan will help improve his crops in every way, guaranteeing him a high quality, timely harvest.
$450 helped with farming work, incorporated plant sanitation, bought fertilizer products and paid labor costs for the harvest.
Funding PartnersHis loan was locally administered by EdpymeAlternativa, a microfinance organization that operates in northern Peru. Traditional financial institutions find it costly to serve the northern areas of Piura, Lambayeque, and Cajamarca. By providing microloans, EdpymeAlternativa helps transform the lives of thousands of people who cannot access traditional sources of capital. Mercy Foundation through EdpymeAlternativa and Kiva has fully funded Eduardo’s $450 loan. Ensuring that his next harvest is better and of a higher quality, Eduardo can now pay for everything that he needs on the farm. Having the same goals, both organizations work well together ensuring that people without access to capital in traditional ways have microfinancing. Kiva brings social foundations together, while EdpymeAlternativa identifies people on the ground that are in need of financial assistance. Anyone can join the Kiva platform, which allows organizations such as EdpymeAlternativa to provide and expand their services in regions where access to traditional finance or microfinance institutions is limited. If you would like to make a change in an underprivileged entrepreneurs life, visit Kiva.org and take a look at the thousands of loans that are in urgent need of funding. By funding a microloan, you will effectively be able to change the lives of hundreds of people in an area. Notes This article is based on https://www.kiva.org/lend/993935