Remember the loan we made to Zareena in Pakistan? She wanted to buy a cow to start a milk selling business. This was a sustainable endeavor that would allow her to have a continuous supply of milk for the entire live of the cow and sell her milk for profit. Zareena had two sons and two daughters, one of which was in school while the other three were too young to attend. We hoped that this loan would allow her to become profitable enough to send all her children to school, so they would spend their time in a safe, stimulating institution and work towards having a job that will raise their standard of living for themselves and their family.
We are happy to announce that Zareena has become profitable enough to start repaying the loan even earlier than required! We received our first repayment of $2.29 this month, and will continue to receive payments through August, 2012 when the loan should be entirely repaid. Remember, we are only receiving our principal amount. This project is exclusively outreach-based. We are not receiving interest.
See what just $25 can do to enrich the lives of a family in a developing country? We will continue to make microloans to individuals and groups in areas where entrepreneurs have no access to credit. Check back soon and stay informed!