Feeling pretty good, boomeranging some mola to Maria.$50 from me, $150 from others, and Maria's microloan is now complete.
So who's Maria and what is she up to with her $200 loan?She's a widow with children living in Uganda. She works 7 days a week and takes care of additional family members beyond her children. For money - be ready, for she's a entrepreneurial multi-tasker - her time goes toward selling air time for telephoning, printing and typing, a mini-restaurant, and selling raw food.
With her microloan Maria will: buy airtime cards to sell, a new printer cartridge, and food for the mini-restaurant.
Her longer term goal is to: buy a photocopier.
Back of the house:Repayment term is 6 months. How awesome is that? $50 of mine that I won't spend for a 1/2 year, no net loss of money ( 1.5% risk of non-repayment on the microloan platform
Kiva), and a hard working widow in Africa catches a bit of a break.
It's like magic. Could it get any easier?
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