Yorma is a repeat lender in the Mifex and Kiva program. She has done great with her first loan. She was able to invest in new products that were extremely popular during the end of the year because of the Christmas season. With the profits she made from those months, she was able to put tile on her floor, which was made out of cement before, and she was also able to buy some more mirrors. Yorma's business is now at a new level. Clients visit her more often because of the cleanliness of the shop and wholesalers supply her more because of the quantity of beauty products she sells.
She is very happy with the results of her investments and she is eager to continue growing. In fact, Yorma paid off her first loan ahead of schedule because of her success and her desire to receive further financing. She now wants to buy a high chair that will allow to her cut children's hair. She is hoping she will be able to break into this market as she sees that there are very few shops that focus on kids haircuts. She will also continue investing in hair and beauty products for her clients.
Her four children have benefited from the loan as they have had extra money to spend on clothes and materials for the new school year. Her husband does not help her anymore, as he is now working with Mifex as one of our new loan officers. Yorma feels extremely grateful that she has been able to grow along with our Credit Union and she is sends her appreciation to the lenders worldwide who have supported Ecuadorian entrepreneurs.
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Success!! The loan was 100% repaid