In April I received $20 in Amazon.com affiliate profits. Today I combined that with $3.67 repaid from some of our other Kiva borrowers and a dollar and change from my own bank account to issue our third loan. This one goes to La Colmena Group of Ecuador.
La Colmena is a cooperative of individuals who share business expenses for the benefit of the entire group. A portion of this loan will go to Bolivar.
Bolivar rents a house in a poor neighborhood in San Lorenzo where he lives with his wife and four year old daughter. His wife, who is 70% disabled, works as an office cleaner. Bolivar has worked as a bricklayer for years, but the work is unsteady. He plans to use this loan to acquire his own bricklaying tools, such as hammers, trials, and a mixer, so he can form his own bricklaying team to provide work for himself and others.
I chose these borrowers because of their excellent repayment history. When their loan is repaid it will be re-loaned to another hard working Kiva entrepreneur in the developing world.
Thank you for giving hard working teams, like La Colmena Group, who are often overlooked by traditional banking institutions for lack of collateral, these opportunities to thrive.
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