Lumo Lifestyle

I have written two posts on micro loans. Received an update of one of them. To me this is an easy and good way to pay back even a little and help someone in need. I'ts amazing how little can make a huge difference in someone's life.

One can participate in a loan with as little as 25 $ and money can be withdrawn or reinvested trough Kiva after the loan has been paid back in full.

"This is an update on your loan to Jennifer Buhangin in Philippines.

Jennifer is pleased to report that she has successfully repaid her loan

of 10,000PHP ($225) in full. Prior to opening her general store within

the local school's grounds, Jennifer managed a school canteen for two

years. The school principal offered her the stall so she could sell

products to the pupils which she accepted. Her products include food

snacks such as macaroni soup, pancit, fish balls and juices.

Her average income is around 350PHP ($7) per day which is always

reinvested in the business or spent on her children's allowances. With

the loan, she was able to increase the variety of products and was able

to purchase new stocks on demand without lag. Without the ASKI loan, she

would have almost certainly resorted to a '5/6' loan which would have

made her family's financial situation that much harder. Jennifer hopes

that her family will own their own house one day and renovate the family

home replacing the wood structure with concrete.

She thanks Kiva lenders for all their support and hopes they will

continue to avail her loans to raise her family's standard of living."