Post by Cory & Stacy Martin, Maderas Artisans Mission Collective in Masatepe, Nicaragua
It’s time to dream big. We want to help families break out of the poverty cycle and find sustainable ways to support themselves for the future. We are introducing our Microloan Program for new small businesses. There are never enough jobs in Nicaragua and people have to get creative in order to earn a living. It’s smart to start up a small business, especially when people don’t want to travel to the big city where Covid is more prevalent. However, the banks charge enormous interest rates on new loans, if one could get approved in the first place.
How It Works
We are beginning small with two (2) women-owned businesses, with hardworking & trusted members in our community (see below). We plan to add more small businesses in the future as we are currently evaluating business plans from other trusted Nicaraguan friends/students. We will loan money, interest-free so that a new business can have a decent chance for success. We are also teaching young people about how to properly run a business.
Will you help us? When you make a donation to this campaign you choose a borrower to receive your funds. That borrower pays monthly for 1-3 years on their loan. Once that loan is repaid, we will contact you and you will choose a new small business with your original gift amount. Your money will be recycled to help many new businesses get started over the next few years. You can loan as little or as much as you want towards the business of your choice until they reach their maximum request.
WendyMart was the idea of our college scholar, Wendy, and her mama, Maria. Wendy’s mama had just returned from Costa Rica where she’s been working for the past few years as a maid. She was only allowed one week off a year to visit the family. Her father is currently working as a janitor at the factory making only $10 a day. They were afraid mama would need to go back to Costa Rica again so they could eat, but then Wendy had an idea.
There was a storefront space available to rent only a block away. Their vision is a little store that will sell groceries, school supplies, and clothes. They also make fresh tortillas, hot coffee, and homemade coconut ice cream. Wendy’s brother helps at the store when she is at the university. Maderas Artisans has already helped them rent and paint the space, purchase a freezer, coffee pot, and griddle. They are asking for up to 2,000 total to buy inventory for the store and add a sandwich shop. Would you consider loaning money to WendyMart?
Mary’s Cafe is the idea of Mary, another college scholar in our program. She wants to start a small business in her home with her mama, Ana. (They don’t live near Wendy and wouldn’t be in competition.) Ana has been working in the city as a live-in maid and only gets one weekend a month off to visit her husband and children. This would allow the family to stay together all of the time. They need a propane griddle to make tortillas and a small freezer to make homemade ice cream. The total for these two items would be $250, but they would be interested in borrowing up to $500 in order to expand their menu to include plantain chips and local cheese. Would you consider loaning to Mary’s Cafe?