The past two weeks has seen repayment of our micro loans to the beneficiary women. All the women after undergoing the training process, orientation and finally, issuance of their requested loan amount, VPWA offered them two weeks period to work with the money and start paying us back in the third week.
Their repayment plus flat interest rate has been spread out within a four months period.
It is gratifying to note that, some of the women are paying more than they are suppose to pay back weekly. What this means is that, they are making good returns from investing with our money and thus, they do want to complete repayment as quickly as possible to qualify them for another round of loans.
We do hope that, as they progress with their business, they should be able to save as much as possible and reinvest their profit so they don't come to us for loans and we can help other women in the community too.
So far so good.!
On Monday, our volunteer Charles, who has been handling affairs in the office mostly for the past two months will leave for England and he will be replaced by Noah, also from California , USA. Noah will take over roles of Charles.
Kayla also from Illinois- USA will also starts working with VPWA micro finance beneficiary women from Monday. She will be helping them with book keeping and practical financial management skills for the next one month.
