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CEBU - Micro-Lending Project
The Earth Friendly Eatery: A small take-out restaurant which sells food daily to teachers from the schools in the area and others from the community. The restaurant is run by 10 women, and cooks 10-15 different dishes daily which they sell. They spend about 700 pesos a day for food, and their income is about 1300 pesos a day. The women have chosen at this time to save the money in a group bank account rather than divide among themselves as income. In three months they earned 8000 pesos above their expenses. The money might be used as capital for further expansion. WODEEF provided the initial money of 50,000 pesos (approximately $1041). They only need to pay back 60% of the loan because they are WODEEF members, which is due in one year, and they are paying back the loan on a regular basis. Now this project is self-sustaining. |
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| The Earth Friendly Eatery - a WODEEF Project |
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The Water Tank Project: This project is a further development of the installation of a water system for the community of potable water. The project began with a capital investment from WODEEF of 7000 pesos to install a fawcet connected to the Cebu City water district which would provide fresh drinking water for the community. They repaid this loan in 3 months, and then received another loan of 60,000 pesos to provide a water tank and to create a small shower room. This water is sold in containers to people in the community to provide fresh drinking water. 40,000 pesos of the loan is to be repaid within the year. 20,000 pesos is a grant. This project is now self-sustaining. |
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| Women gets fresh water from a WODEEF Water Project |
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The Fishing Boat Project: Fisherfolk of WODEEF were able to buy 11 fishing boats with motors with the help of a grant. As a result, they are able to go further out to sea to catch more fish. |
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| Some of the Fishing Boats with Motors from a Grant to WODEEF |
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The Piglet Project: WODEEF Women can take a loan of up to 12,000 pesos to buy 5-6 pigs (approximately $50 a pig). The pigs are fed and fattened and sold after 4 months for 6-7000 pesos a pig (approximately $145 a pig). Expenses for the pig include food and the initial cost of the pig pen, plus the cost of the loan which is 350 pesos per pig. The loan plus interest is then put back into the account for more future piglet loans. |
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| A Pig raised in the Piglet Project |
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The Rice Project: WODEEF members buy sacks of rice from the WODEEF center. If necessary, they can get the rice on loan and pay later.
The Fish-Vending Project: A fish vendor borrows up to 1500 pesos (approximately $31) in order to begin a fish selling business to buy fish and then sell the fish either house to house or in a stall at the market.
Ice-Making Project: One woman bought a refrigerator and makes ice which she sells to fisherfolks to keep the fish fresh from the catch to the market. She financed it herself because WODEEF was not able to get a grant for her business, which demanded larger start-up costs. She is an active member of WODEEF and now doing very well. WODEEF would like to be able to help start-up costs for more of these kinds of businesses that have proven very successful for the women. |
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| This ice-making project provides ice to the fishermen to keep their fish fresh. |
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