Successful Microcredit Projects Give Women Confidence
María Arcadia is an example of the power of a successful microcredit project. With her first MayaWorks' microcredit loan, she purchased a cow and sold milk to the members of her small community of Agua Caliente. That was in 2010. María Arcadia still has the cow and is still providing milk for her village but, just this past year, and after paying off her first loan, she requested another microloan to expand her livestock. María Aracadia purchased a female calf that she will take good care of until she is able to produce a calf herself. In this way, María Arcadia will grow the number of livestock on her farm.
MayaWorks is careful to teach loan recipients that they must consider all of the expenses related to their income generating project, not just the initial purchase cost. For example, we asked María Aracadia what will it cost to feed the calf? What will veterinary visits cost? Will there be any expenses related to mating the cow? What will the selling costs be when she has finished mating? It is important to discuss all of these potential expenses with the loan recipient so she clearly can see whether the project will be profitable or not. After reviewing all of these costs, María Arcadia determined she could double her investment.
When women have success with their projects, when they really understand their projects, they feel confident to expand them and ultimately create more income for their families.