Paz is a 56-year-old proud
mother of 5. In addition to having raised her own children and successfully seeing
all of them through high school as a single mother, she is now raising 4 of her
grandchildren on her own. She is happy to have her grandchildren living with
her because she loves them very much and they are good students, but it is
sometimes very difficult for her to support them on her own.
Before
taking in her grandchildren, Paz owned a store that sold goods such as rice, beans,
and other basic products. However, with the added responsibility of having to
care for her grandchildren, she was unable to continue to maintain her store. Instead,
Paz began to do a variety of things to earn money. She started to wash, sell,
and repair clothing from her home, sell food that she makes herself, and work
as a housekeeper whenever she could.
Paz first applied for a loan
from Enlace because she wanted to start a business selling fritanga
(traditional Nicaraguan food). Previously, she had worked with another
microfinance group in El Sauce, but she claims the interest rates were so high
that she would need to use all of her profits to pay back her loan. Paz prefers
working with Enlace because the interest rates are low, allowing her to do more
with her profits.
With her first Enlace loan of
U$200, Paz was able to purchase her fritanga (grill) and some ingredients for
her food such as meat, plantains, and fruits for her all natural frescos
(fruit juices). After successfully paying back her first loan, Paz decided to
apply for a second loan, with which she was able to buy an initial supply of
sandals and shoes to sell. So far, this new business has been successful.
With the profits she makes from
her shoe sales, Paz has been able to continue selling fritanga food and fruit
juices on the weekends and on busy days. She is grateful that Enlace taught her
how to manage her money well and how to save more effectively; Paz recently
opened a bank account to try to save more. In the future, Paz is considering applying
for another loan from Enlace to try to reopen the store she used to own,
because she preferred the more stable business of always being able to work
from her home and watch her grandchildren.
--Written by Jessica Kroenert and Cameron Houser
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