ICDU View: Lending

Over the next few months I’ll be spending my newsletter slot on our entrepreneurs who have taken advantage of our no-interest loan program. I want to spend each month highlighting a borrower and their business. Recently, over on ICDU’s website, I put out an update on the four loans we have made and the two other possible loans to be made. While this program has advanced as we had hoped, it would be even more amazing to break expectations and make another loan or two in 2010. 

Next month, I’ll write about Yenny and her bodega again and for the last time as a borrower. That is because at some point during October she will repay her loan in full to ICDU. It’s an exciting time for us as she will be the first borrower to pay off a loan. This means that a family’s life has been improved, a business has grown and multiple lenders’ trust was well placed. As one of the fieldworkers, there always rests in my mind the knowledge that eventually we will probably be taken advantage of and have someone default on their loan. It is a great feeling every month to receive payments and hear good reports from the borrowers. It is an even better feeling to be able to report back to you, our supporters, that a loan will be repaid in full. The best feeling of all though comes from hearing Yenny talk about the experience positively. 

I look forward to sharing more and more stories from borrowers and lenders as word spreads about our loan program. I hope those who have lent will lend again and those who may have held back will be moved to lend in the future. I hope that Peruvians like Yenny and Glerida continue to seek us out for help and support. More than anything I eagerly await the next glimpse of God’s hand working in Arequipa and the next opportunity to take part in that work.