It’s been almost a year since we met Margo. She is part of MiBanco La Esperanza, in the community of Los Higos. We’ve discussed in the past how the families living in the poorest areas of the country are trapped in a downward spiral.
The community of Los Higos is an example of that: limited job market, poor infrastructure and high transportation costs, added to the normal difficulties that a low-income family faces daily.
One way of mitigating this situation is through self-employment. A few months ago, Margo started a small convenience store where she sells necessary products such as rice, beans and bread, and other finger foods. Margo is an excellent cook and her effort is starting to pay-off.
Small businesses like this are run on a cash basis and stock is built and bought daily, which is a burden for the profitability of the business.
Recently we funded Margo with a small loan so she could buy wholesale, build stock in advance, benefit from lower prices and reduce transportation costs. We expect this strategy to have a positive impact in the long-term strength of the business.
It makes us happy to help women like Margo to improve their financial situation, and to empower them to be in control of their lives.
If you want to join the team, go to the Donate section.
Alvaro & Raquel