Grameen Foundation : Where we work : Latin America / Caribbean : Mexico : Success stories
Mexico Success Stories
Esmerelda Espinoza
Esmerelda Espinoza sells small items such as hair accessories and costume jewelry; she also makes decorative flowers out of soda bottles. She sells these goods on foot by going to markets in nearby towns. Esmerelda is on her first loan of 1,000 pesos ($91) and told us she hopes to take out a loan of 10,000 pesos ($914) one day as her investment capacity grows.
Adela Sepulveda
Adela Sepulveda is Esmerelda Espinoza’s daughter-in-law and lives next door. With a loan from Grameen de la Frontera (GdlF), Adela rented a hot dog cart, which she pays 200 pesos a week to use (approximately $18). Her daily expenses add up to 250 pesos including other expenses such as food and gas to heat the hot dogs. Despite these costs, Adela earns 440 pesos a day by selling her hot dogs in her community. On average, she works three days a week, earning a total of 1,320 pesos per week, for a profit of 370 pesos. This is equivalent to approximately $34 per week, which, in a country where an estimated 25 million people earn less than $1 per day, is a big step up.
Grameen Foundation : Where we work : Latin America / Caribbean : Mexico : Success stories
Grameen Foundation uses microfinance and innovative technology to fight global poverty and bring opportunities to the world's poorest people. With tiny loans and financial services, we help the poor, mostly women, start businesses and escape poverty. Our global network of 55 microfinance institution (MFI) partners including our Growth Guarantee partners has touched more than 34 million people in 24 countries. In addition, we introduced and now sustain technology initiatives (Mifos and Village Phone) in Cameroon, Kenya, Rwanda, and Uganda, bringing our total country outreach to 28.
+1-202-628-3560 www.grameenfoundation.org
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