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Alemu is from Ethiopia. He needs a loan of $200 to purchase an ox.
Alemu is from Ethiopia. He needs a loan of $200 to purchase an ox.
Alemu is a hard working farmer. He farms to support his family, but his small operation is only marginally sustainable. He is in need of capital to invest so he can expand and improve his farm, in order to make a better life for his family.
With a loan from World Vision, Alemu will purchase an ox, which will help him to cultivate and plant earlier in the season. The additional income he will earn from an improved crop will be used to provide nutritious food for his family and to help pay for the education of his three children.
In the future, Alemu plans to continue to invest in his farm. His plans include owning dairy cattle and selling milk, and growing a larger variety of crops to sell to his neighbors.
The Agriculture business sector covers all farming and livestock activities. Some entrepreneurs request loans to help in securing supplies and equipment. Others want to buy more animals to breed or purchase feed and medicines. The majority of our loan clients live in rural communities where agriculture is already understood as a business model. It is for this reason that approximately 50% of our loans are in the agricultural sector.
There is no community update available at this time.
Thank you for supporting a small business loan for Alemu Fake to expand his farming business. After receiving the loan from World Vision, he invested the $200 to purchase an ox.
Alemu has been repaying his loan on time with his new profits. He makes weekly payments of $3.
In addition to repaying his loan, Alemu is using additional income to pay school fees, purchase fertilizer and provide healthcare.
Alemu's three children continue to study in school.
Thank you for supporting Alemu and World Vision Micro!
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