Type: Small Business Development
This project is proposed by Delcibeth Escorcia, a 37 year old mother of four children who works as a maid. Delcibeth will work under the guidance and support of the Human and Community Development Foundation (FUNDEHUMAC). FUNDEHUMAC promotes poverty alleviation and works to improve the living conditions of displaced and indigenous communities in Colombia Delcibeth will buy clothing at reduced prices for re-sale in the poor neighborhoods for installment sales at a markup. This method of sales is common among those with a small income. This small business venture will be financed by The Colombia Project. The amount requested is US$300.00, to be paid within a year. The first payment is due 60 days after the loan is received. This loan is interest free. As of today, the exchange rate is US$1.00 is equal to col. $2,270.00 pesos. The loan amount will be col. $681,000.00 pesos, which will be re-paid in twelve monthly installments of col. $57,000.00 pesos.