WPF Invests $300,000 in Des Moines

Whole Planet Foundation Domestic Microlending, News, The United States 0 Comments

Whole Planet Foundation’s partnership with microfinance partner Solidarity Microfinance began in June 2015.  On her last visit, WPF’s Roxana  audited the grant and observed progress in person. While she was in Des Moines,  she met microcredit client Renata. For over two years, Renata has been taking Herbalife nutritional supplements to help her lose and maintain her weight. A year ago, she decided to go into business for herself. She partnered with an Herbalife club in Des Moines. In order to purchase the products in bulk, she had to invest $110 to become a member and $15 every subsequent year. When she first started, Renata didn’t have enough capital to buy a lot of product so she was only selling in the club one day a week.

renata is a microcredit client in Des Moines

Photo credit: Roxana Newton

Six months ago, Renata joined Solidarity Microfinance.  After being approved for a $1,000 loan, Renata was able to invest enough in her business to allow her to sell at the club three days a week.  She is about to finish her first 6-month loan, and has decided to continue with Solidarity Microfinance and will be applying for her second loan soon.

 

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