The pandemic has impacted across the world and those we lend to have not avoided being impacted. During 2020 Loan interest payments were suspended or delayed but activity is now returning across the world. A further 7 loans have now been fully repaid and ALL loans are making some payments, though over a longer period than originally envisaged.
The range of countries trading successfully has increased and the choice of people asking for loans is now considerable. I made a further 18 new loans this week to vetted groups in Ecuador, Malawi, Zambia, Rwanda, Philippines, and the Palestinian Territories. We have now made a total of 259 loans since we started in 2017, lending a total of £7.400. 2086 entrepreneurs have benefitted from our loans and they have created 738 jobs. With our colleagues in District 1260, especially Royston, Baldock and Barton District 1260 Rotarians have made over 1000 loans. Below is one of the groups we support and typical of the kind of loans we make, the article tells you something about the group.
The kamwanjiwa group has 16 members. 14 are married and 2 are single. They have 51 dependents in total. To support them these women sell fish, snacks, vegetables, clothes and others run grocery stores and restaurants. They have requested a loan to invest in stock and other relevant materials for their businesses.
One member of this group is Everina. She is 43 and married. Her husband does not work so all of the financial responsibility for her family rests with her . Together they have 4 children of their own and they also care for 2 orphans and 1 relative. Everina sells maize for a living and she intends on using her loan share to buy bags of maize for sale and the remaining amount will be used for transport. In her business she is helped by 3 people. The other members will use their loan shares to buy stocks of fish, vegetables, groceries and clothes for sale. For those running restaurants and snacks businesses they will buy materials like flour, cooking oil and baking powder. They hope that they will be able to expand their businesses in the coming 2 years. Everina hopes to buy a plot and build a big house for her family.
If you are lending, please be aware that due to the current COVID-19 pandemic your repayments could be at greater risk of delay or default.
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