Proposal I (link to loan)
I propose to lend money to a woman by the name of Akouvi Victoire Adanlekponsi from Lomé, Togo, who is asking for a loan of $675 for her business. She is married to her carpenter husband and has two school-aged children. Akouvi runs her own business selling cooking oil, which she started in 1991, in order to help out with family finances and to support her children’s education. Akouvi’s country, Togo, has a GDP per capita figure of $900, according to the CIA World Factbook, making it the 14th poorest country in the world. Because the country is so poor, its citizens might not have access to quality financial institutions, and this is where microfinance institutions play a role.
As Akouvi has sustained her business for almost two decades, the business is certainly viable. According to her Kiva profile, she has built up a loyal clientele over the years and now even has commercial clients. The reason she needs the loan is because her business is growing. In response to growing demands for her oil, Akouvi will be using the money to buy additional oil drums to meet her “urgent need” to increase her stock. Because Akouvi is a female, she is a good candidate for the loan, as women usually manage household budgets and tend to be more responsible. Thus, she will probably be more likely to repay her loans on time. And given the state of poverty in Togo, the loan will not only go toward Akouvi’s business, but if her family hits a rough patch financially, it may also help Akouvi keep up with household finances and continue to send her children to school.
Proposal II (link to loan)
I have chosen Edward to receive a loan to help better the life of his family and himself. He lives in a town called Dormaa in Ghana, and he is an herbalist. I have chosen him over other people because as an herbalist he supplies medicines to drug stores and also goes village to village to sell his medicines. I believe he is more important than most of the others on the kiva website because there are many farmers and general store owners but not many people who can improve the health of others. Edward lives in Ghana which is a poor country with a GDP per capita of $ 1,500, but I chose Edward because Ghana is growing at a high rate and this loan will help their growing economy. Currently Ghana’s economy is growing at a 7.3% rate, which is high. Their GDP per capita has gone from $ 1,300 to $ 1,400 and is now $ 1,500 in the last three years. For a country with such a small GDP per capita this is very promising growth which is why I feel Edward should get the loan he needs to help himself his family and his country. Also Edward makes medicines for people which are a much needed business in a country that is as poor as Ghana. With the right supplies and funds Edward is sure to succeed and improve the health of many people. He has been an herbalist for over twenty years; he already has a client base of drug stores and villagers. So with this loan Edward will help improve the lives of many people including himself.
Proposal III (link to loan)
After reading the loan description for Shapei Asilbek, I believe she is deserving of a loan through the Kiva.org microfinance program. Asilbek, a 33-year-old woman has owned and operated a pharmacy since 2005 with the aid of her husband. She is the mother of two, and lives with her two sons, her husband, and her mother in a traditional ger. Both of her sons attend kindergarten already. Located in Mongolia, a country with a GDP per capita of only $3,200, the need for pharmaceutical drugs is fairly high. She has placed her shop in a high traffic area next to the local market in the province of Bayan-Ulgii. Asilbek is looking for a total loan of $1,725 in order to purchase more medicine for her pharmacy. In the years she has operated her pharmacy, she has gained a lot of experience in the field of business, and has a very good reputation among her peers, many of which continue to come back to her when they are in need of medical assistance. Not only does she sell the medicine, but also she is a doctor and frequently sees her customers in her shop. A link to her lending page is as follows:
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