Tim Dennis sponsors projects in Peru

Tim Dennis has joined with www.kiva.org to support two projects; these Micro loan projects are both in Peru South America. 

Kiva is the world’s first person-to-person micro-lending website, empowering individuals to lend directly to unique entrepreneurs in the developing world.

A micro loan is a small some of money that you lend to an individual that is paid back over an agreed term.

Kiva have been a key tool for this since 2006 to bring people from poverty to our personal laptops and give the man on the street the opportunity to lend directly to the person in need, this kind of lending is usually the only way someone in their position can borrow money.

I personally like the concept of micro loans, i like the fact that the money that you give goes directly to the person setting up their own project, you have the ability to follow the progress of this project to the end of the loan time frame, you can then reinvest with the same or another individual or group. 

So if you too would like to try this then go to www.kiva.org and create a profile and start lending.

Below are the details for you to look at. 

 Ketly, Sponsor 1

Ketly is 22 years old, single, and lives with his parents and siblings who support him in his endeavors. He owns a motorcar, which for the past year he has used to transport passengers to various corners of the city. He enjoys the personal rapport he establishes with his clients and has earned a good profit with his business. He administers his own daily earnings and does not have much economic overhead right now so he is doing well at work and personally. This is first loan with MFP and he has committed to his communal bank to make the payments timely. With the requested funds he will repair his motorcar and buy spare parts to build up a second one.

Name: Ketly

Location: PUCALLPA, Peru

Primary Activity: Motorcycle Transport

Loan Requested: $200.00

Repayment Term: 5 months – details

Repayment Due Dates

Mar 15, 2009 $30.43

Apr 15, 2009 $31.14

May 15, 2009 $32.99

Jun 15, 2009 $33.79

Jul 15, 2009 $35.10

Aug 15, 2009 $36.55

Loan Use: To repair the motorcar

Date Posted: Jan 2, 2009

Date Funded: Jan 3, 2009

Tim Dennis Joins www.kiva.org to assist Peruvian community.

  Group Sponsor 2

The Iris Lanao Village Bank (named for FINCA’s Executive Director) is made up of 23 members, who are beginning their fourth loan cycle. All of the group members are from the Chiara District, located one hour outside of the city of Ayacucho. Most of the local community members are farmers or raise animals. The group members are involved in a variety of different business activities. Some sell dry goods, small animals, food, sweets, grains, or firewood, while others are farmers.

Gabriela is 33 years old and married with two children. Gabriela has a store where she sells dry goods and vegetables. She also grows corn and potatoes, which she sells in the markets in the city of Ayacucho. Rosa is 36 years old and married with six children. Rosa has a store in the Kishuar community, located 30 minutes outside of Chiara. She also farms and raises animals. Luzmila is 26 years old and lives with her partner and their three children. Luzmila raises guinea pigs (a Peruvian delicacy) and also buys guinea pigs from other farmers, selling them in the city of Ayacucho.

The group members are requesting different loan amounts, like 300 (US$ 100), 450 (US$ 150), 600 (US$ 200) or 900 (US$ 300) soles. “Iris Lanao” is requesting a total of 14,500 soles in loans. The loans will be used to buy animals, rice, sugar, sweets, firewood, clothing and grains. Some of the group members dreams are for their children to get an education, to expand their businesses, to get ahead in life and to have all the basic necessities.

Group Name: Juana Gabriela Tucno Vilca Group

Group Members:  Juana Gabriela Rosa,  Toribio,  Gloria,  Julia,  Luzmila,  Enma Isabel,  Aydee,  Bernardina,  Maura,  Adelaida,  Maria Julia,  Guillerma,  Rosa Margot,  Juan,  Leonidas Teodoro,  Gregorio,  Florentino,  Elsa, Saul,  William Wilfredo,  Norma,  Alejandro,

Location: Ayacucho, Peru

Primary Activity: Farming

Loan Requested: $4,700.00

Repayment Term: 5 months – details

Repayment Due Dates

Mar 15, 2009 $783.33

Apr 15, 2009 $783.33

May 15, 2009 $783.33

Jun 15, 2009 $783.33

Jul 15, 2009 $783.33

Aug 15, 2009 $783.35

Loan Use: Buy animals, rice, sugar, sweets, firewood, clothing, and grains

Date Posted: Jan 1, 2009

Date Funded: Jan 3, 2009

I am really excited to be working with these two projects and i will follow the progress and keep you informed as to how they are getting on with their projects.

Tim Dennis 2009