We've recently received some great reports about our micro loan program. Our amazing Senegalese director, Diegane Ndiaye is reporting 100% repayment on the last round of loans!
All of these funds have been recycled and are back out in the community again. Diegane is a huge reason for this success rate. His commitment and dedication to this project is impressive- he manages all of this on a volunteer basis while holding down a full time job and raising a family. Thank you Diegane.
Another reason for the success of this program is that we make NO INTEREST loans. We have heard from several loan recipients that this is a huge blessing for them as previously they only ever had access to moneylenders who would chrage 25- 50% interest. This usually meant that the borrower was never going to be in a position to fully pay back what was owed and would continue in a cycle of debt. With an Andando loan they can establish some security for their families and make plans for the future.
Following are a few comments from some loan recipients-
The project allowed me to set up a little business with an oil press. I would buy peanuts and make oil to sell in the local markets. I made profits that allowed me to improve our family's diet and address key needs.
I thank Andando for allowing me to improve our living conditions.
With the loan I bought some livestock (sheep)that have recently given birth. I have sold some and have some more to rear. This project has transformed my life.
Diegane also reported that in one of the villages there was a young man who was facing difficulties. All the loan recipients got together to help him buy a sheep. Today he has paid back all the ladies and has his own sheep now to rear. This example of "walking together" is something to celebrate!
Thanks to all of you who are a part of making this micro loan project work. You are changing Lives!