Micro Lending: Story 5

DEYSI VEGA RIOS IS a 40-year-old lady. Her husband's name is Cruz Valdiviezo Paz and is 43 years old. Both have 3 children: 15-year-old Carolay, 12-year-old Jeanpierre and 7-year-old Benjamín. They all live in H-19 San Miguel humble village in Chimbote-Perú. Five years ago, in 2005, she started sewing and making some clothes for those who asked her using an old sewing machine. She only counted on her personal efforts and assets. She started working sewing in a small market called "Los Israelitas" located in 10 de Setiembre neighborhood near her house.

Even though she did her best to save some money and so to equip the best way her small business however she could not do it because all the money she earned was used to face family expenses. At that time she need urgently a looping machine and a coater machine for her small business to begin to grow and this way generating its self-sustainability. It was necessary for her to get a loan to be able to buy these machines otherwise her small business would not emerge.

On this context and through a friend, she heard about a non-profit organization called CHOI here in Chimbote and located near her house offering micro loans, through one of its programs, for those needing a micro loan to improve their small business. So, she went to the office of the Micro Lending program and after getting to know a little more about the program she applied for a micro loan.

She received her first micro loan on April 20, 2006 and she used this resource to buy some working materials she need urgently. She applied for the second micro loan and received it on December 27, 2007. She used it to buy haberdashery (thread, buttons, little scissors, etc.) So, now she started selling haberdasheries. Her small business was going well and she applied for her third micro loan which she received it on November 27, 2008 which she used to buy a looping machine.

She applied for the fourth micro loan and received it on December 28, 2009 and she could buy a coater machine. Her small business started growing little by little and she moved to another market located in La Victoria neighborhood where she has her stand located at a corner. Thanks to micro loans received from the program her small business is going well so far. She doesn't have to worry about giving maintenance her machines becuase her husband does that work since he is an expert in sewing machine maintenance.

In a near future she would like to be a provider of clothing for institutions such as schools, universities, enterprises, etc. and she is working hard to get that goal. Presently she makes clothes for those who ask her. Also she has, in her stand, a business of phone call and her older daughter works with her.

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