Micro Lending: Story 3

MANUEL ALEJANDRO MEDINA CASTAÑEDA is a single young man who is 24 years old. He lives in T-4 La Victoria neighborhood here in Chimbote with his mother: Mrs. Rosa Castañeda Rubio, a 48-year-old woman, and his two brothers: 28-year-old Miguel Angel Torres Castañeda and 15-year-old Julio Torres Castañeda. Even though his mother helped with money for the expenses of the family yet there always were more expenses to face. So, five years ago Manuel had an idea: To establish a small business in his house. So, at that time he started selling cookies, candies, soda and food for birds. This way he discovered his asset for this kind of business.

As the time went by his business was going well little by little but he wanted his business to grow. He wanted to start selling more articles just as groceries, fruits, toiletries, drinks, toys etc. Unfortunately that was just a dream at the time because the gain obtained, as a result of his sales, was not enough to implement and improve his business as he wanted. He was very motivated on his project but could not find financial support to get his purpose.

One of his neighbors named Mrs. María Elena Sucsa Mendoza, who is a former client of Micro Lending program Support Association for Small Business "Perpetuo Socorro" (a program of non-profit organization CHOI), told him about this micro lending organization and the possibility for him to get one. So, he applied formally for a micro loan which was given to him on March 31, 2009. That was his first micro loan requested.

Manuel used this resource to implement and improve his small business so now he sells not only cookies, candies, soda and food for birds but groceries, fruits, toiletries, drinks, toys, several kinds of ice cream, etc. He is glad because now he is able to help his family and his brother Julio is studying thanks to the support that Manuel gives him. In a near future Manuel is planning to apply for another micro loan to keep improving his business and he wants to thank American benefactors who made possible this Micro Lending program.

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