On Sunday 8th of November SOLAC had the first meeting with the potential beneficiaries of Unión Perú. About 20 people attended, with a majority of women, all seeming very interested and enthusiastic about the project.
Marta, who will be the loan official for the first village bank, explained to them what microfinance is, how it works in general, and briefly explained details of how SOLAC’s microfinance project is going to work.
Following, was a Q&A session, where we clarified some points that had remained unclear for the participants.
One of the women was appointed to put together a group of 10 to 15 people, which will meet SOLAC again on Thursday the 12th of November in a meeting where precise details of how the project will be carried out will be explained, such as the terms of repayment, interest rate, and saving rate. On top of this, the NGO AVSI will accompany SOLAC to present the programme of workshops they will hold on entrepreneurship and personal development.
At this next meeting, the potential participants will request a loan amount and leave their personal details, so that the SOLAC team can then proceed to evaluate their economic situation and appoint each one their loan.
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