October 15, 2008
Before she got her microloan Emma Morales and her husband were struggling to survive. Both of them were day workers in rice paddies, and despite all their hard labor, they could not afford to live. Emma and her husband were so hungry they would eat scraps that neighbors had given them to feed their pigs. Without having any property, money or business experience she took out a loan from Negros Women for Tomorrow, Grameen Foundation’s partner in the Philippines. She used her 25 dollar loan to buy food which she sold as snacks and lunches on the sidewalk. She also bought a broken scooter which she later fixed up, and now uses as a taxi. Emma has been through several borrowing and repayment cycles; her business has grown exponentially. Instead of begging for scraps from her neighbors she now runs two roadside eateries, owns her own land, raises and sells pigs, rents out scooters, and has a convenience store. Thanks to her loan Emma was able to build her businesses and create a savings account. She has used the proceeds from her savings to send her sister and two children to college.
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