Journey to Malacatoya

Recently, Juan Carlos and Joe set off to distribute loans to a group of seven women in the community of Punta de Agua, Malacatoya. Most of the women work in the fields all around the area growing everything from rice to maize. One of our clients Esmeralda also runs a small store and sells raffle tickets to earn her living. Here are a few photos to help tell the story.

 Crossing the river near the community of Punta de Agua.

 It's very flat here! Lots of rice crops in the distance.

 Esmeralda's corner store.

 Esmeralda uses her raffle to augment her income.

The group poses for a picture before we head back to Granada.

One Stop Shop

The sun was out in full force today! On Mondays we split into two teams to tackle the day's goals. Today, we switched things up and headed out as one unit. The extra companionship of the other team helped keep us going in the hot sun. We stepped into the shade of one of our loan recipient's shops to snap a picture or two.

Martha running her corner store.

Martha provides the local community with all the essentials.

Sunny Day in Pantanal

The year has just begun and we are already busy making collections and interviewing clients for new loans. These are some photos of the various things we do on our outings in Pantanal, Granada.

    Collecting loans from one of our clients.

 

Completing an interview (and asking lots of questions!)

Enmanuel, Juan, and newest volunteer Mimi.

Why do we lend?

I recently spoke with Don Daniel, a small business owner, in Matagalpa. He said to me that he had recently gotten approved for a loan with a 38% APR.

 Don Daniel: "It's great deal!"
 Berly: "I think that sounds rather high. Why do you think that's a good deal?"
 Don Daniel: "The other bank would charge me 10%"
 Berly: "Well, 10% is a much better rate. That's a better deal."
 Don Daniel: "They'll charge me 15% per month."
 Berly: "Whoa! Are you sure? 15% PER MONTH? That doesn't sound right."
 Don Daniel: "Yes, that's the standard here in Nicaragua."

Don Daniel's small construction company is pretty successful. His business wouldn't meet the requirements for a PHPG loan because it's too big. His options for credit are limited. The options for PHPG  clients, are even fewer. Many work informally, and as because of this don't have the credit history to apply for a loan. They don't have wealthy friends that can act as guarantors, They don't need to borrow $1,000 they need to borrow $100.  This is why we do the work we do. Access to credit matters. It's an opportunity and a tool that is much harder to have if you're poor.

Moments in 2014!

2014 was a big year for PHPG.  We worked with farmers, artisans, and local entrepreneurs to help them improve their businesses. We distributed our 500th loan. Celebrated our 6th anniversary of working in Nicaragua. We built new partnerships.

Here are some highlights from a successful year.

The PHPG team in Nueva Esperanza, Granada.

  

Marlene, the President of the Cooperative Tierra Nutrias, shows us the Coop's grain storage and mill.

Fulgencio paid off his 3rd PHPG loan! Here he is with Executive Director, Isabel. 

PHPG Coordinator, Berly ,waiting for the bus with Nazareth, Martha's (PHPG Loan Officer) daughter.

A PHPG loan recipient demonstrating how he etches designs onto pottery.

Visiting with PHPG partner, EOS. Milton took us around his farm to see EOS technology at work.

We celebrated a new partnership! Here's PHPG Coordinator, Joe with Arlen from World Vision Nicaragua.

PHPG loan recipients and craftspeople standing next to their beautiful handmade tables.

Joe, Juan Carlos, and Steve enjoying a moment by the fire.

PHPG Fiesta in May!

December workshop with women micro-entrepreneurs in Matagalpa

The PHPG team walking the streets of Nueva Esperanza, Granada.

We're moving toward another great year!