The latest micro loan project update arrived in the VinB office this week. This always causes a great deal of excitement as staff are keen to follow the progress of the smallholders that are fast becoming part of our family.
… some projects are running smoother than others; some are faster and others slower. We have to treat each case individually. Although there are some delays at some projects, we have to understand that nothing is quick in Brazil! We have to be patient and encourage the recipients to do their maximum to repay a loan on an agreed date. In my opinion, the micro financing is definitely changing the lives of local people!
Smallholders that we are supporting:
Miguel used his loan to purchase a small herd of cattle. Despite the setback of a grass fire last year, Martin reports that Miguel is confident that he will repay the loan in January, 2014.
Similde and Fabiana used the loan to install a mechanical irrigation system on their vegetable plot; greatly improving productivity. They told Martin that one of the advantages is that they now have more time to do things with their two young daughters!
Neto, an experienced chicken farmer used his loan to create a purpose built chicken rearing unit closer to the family home.
Raul is using his loan to extend his chicken rearing unit. The increased income is vital to paying to support his two sons at university!
Find out more about how VinB operates the micro loan scheme in North East Brazil.