A loan of $1,100 helped to buy three head of cattle.

Freddy's story

Freddy, age 20, is a kind and enterprising young man who has the desire to succeed. He is single and has no children. He lives in his aunt’s house with his three cousins.

Freddy sells beef. He buys the meat from ranchers in the Camal municipality. He sells the meat at his stand at the market. That is where he tends to his customers who look for the good quality of meat that he sells. He has been working in this field for six years, and he has managed to win over his customers. They recommend him to other people who later become his regular customers.

He started this business activity by taking his aunt’s recommendation. She taught him everything he needed to know to develop his business. He started out by purchasing small amounts of meat. Little by little he was increasing his capital, and he was able to also increase his purchases.

He feels that his business is profitable enough because of the income that he gets. Also, the demand for this product is constant, allowing him to have stable sales. He therefore wishes to continue with his business and to continue earning the money he needs to pay for his university expenses.

This is his fifth loan with MFP. He is grateful for the loan he received in order to continue with his business. He wishes to continue to have more loan opportunities. Therefore, he pledges to be punctual with his payments.

He confirms that he feels good working with his communal bank. He considers all of the members to be people who are committed to their obligations.

He will use the requested 2,800 soles to buy three head of cattle at 900 soles for each one. He will buy them to sell at his stand at the market. He will look for low prices for buying in volume in order to have a profit margin.

Translated from Spanish by Kiva volunteer Ginny Kalish

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