Round 2 is almost here. Armed with more experience, reviewed applications, refined distribution procedures, and fertilizer waiting to be distributed, we will be ready.
September 4-5, UMF will be giving out our second round of loans, which will go to coffee farmers for the second fertilization of their coffee. This coming Monday, we will give out the first application; while this may seem early, this will give the proper amount of time to explain it, help farmers fill it out, review submitted applications with the Board of Directors in each town, and verify information in the application.
This round of loans will go mostly to farmers who took out a coffee loan with UMF for the first fertilization in June, although we are excited to add new people in every town. In order to qualify, a farmer must fill out an abbreviated application which verifies information from his previous application and requests an amount of fertilizer. After Gilberto and Martir (our field workers) have reviewed and discussed all applications with the Board of Directors in each town, we will go through repayment records for two important things:
First, we will see if the farmer has been to every meeting.
Second, we will verify that he has made all of his payments on time.
Since we give training as well as collect a small interest payment at each meeting, it is important that he has been to all of them. This both builds responsibility and ensures that he is learning how to best work his farm. If he has been to all meetings, made all payments, and is approved by the Board of Directors, this farmer will be approved. This loan will double crop yield (or more if he got fertilizer from UMF in June as well). If he works hard and continues to prove that he is responsible, this will be the second step towards sustainably raising his income and standard of living.
Until next time, adios.
Patrick
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Patrick Hughes is the Director of Operations for Union MicroFinanza in Honduras.
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