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Fourth Loan

May 20th, 2007 at 03:09 am



The fourth loan, and the final one for this first $100 that I raised, went to Yao who has the following story:

Yao Akissi is a 41-year-old woman with 4 children. She is a war displaced woman who was living in the northern region of Côte d’Ivoire until September, 2002 when the civil war started. She came to Abidjan with her family in March, 2003. She contacted AE&I through her sister in January, 2004 to get a loan in order to a start cassava paste selling activity. She took a $150 loan that helped her to launch her activities. She sells cooked cassava paste with sauce, a locally appreciated food. She wants to increase her volume of product as the number of her customers has increased.

This loan was again for $25 and completed the $100 in loans that I could give out for the items that I sold.

After giving out these four loans, I see that I probably need to come up with a plan on how to distribute future money that I raise. At this point I don't think that it matters that I simply pick ones that look interesting, but hopefully in the future I'll need to come up with a method to search through the listings quickly and efficiently. This is something that I will work on to see if I can come up with a plan that makes sense.

I still have eight other items up for auction that will hopefully sell next week and I can add more money to the loans. I'm not sure how feasible it will be, but I would like to try to the list fortified items a day to help clear out the stock that I have here in addition to helping in this project. The listings themselves are not that difficult, but having to wrap and send out the items can be quite time consuming. It's this stage of the process that will determine how many items I can put up for auction each day.

It is definitely a good start and I have set the goal of $3000 by the end of the year. I think that that should be possible and a good goal to shoot for.

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