Socorro Velasquez Posadas is from Zitacuaro, Michoacan, Mexico. She needs a loan of $350 to buy merchandise for magazine sales.
Socorro Velasquez Posadas is from Zitacuaro, Michoacan, Mexico. She needs a loan of $350 to buy merchandise for magazine sales.
Socorro Velasquez Posadas lives in the beautiful area of Zitacuaro, Michoacán in Mexico. She has been separated from her husband for some time and is happy being single. None of her children are currently dependent on her. (Although her daughter, son-in-law, and grandson all live with her).
Socorro is asking for your help with this loan because she wants to do magazine sales. She sells clothing and shoes. When a client asks for a certain item from these magazines, Socorro has to send all of the money upfront to the magazine company. It is only after Socorro’s client has received the merchandise that he/she ordered that Socorro gets to collect the money from her client. (This usually takes place in two separate payments). Thus, Socorro needs this loan as capital so that she is able to buy the items from the magazine company before passing them on to her client and obtaining a commission for her sales.
She is a hard-worker and is also helping her son-in-law get into the magazine sale business. She has been working in magazine sales for seven years. In her free time she also sells food such as cakes, pies, and dinners. In the future she hopes to have her own store to sell clothes from and also to have a little extra money to be able to go on a small vacation.
Socorro thanks you for your support.
Retail is a quick and scalable way to begin earning a profit. Many entrepreneurs entrepreneur begin with stalls at markets or even at home and need a loan to expand or increase their inventory. Others may be ready to open a small store. Goods purchased from loan funds range from clothing, grocery or sundry items to jewelry, candy, perfume or health and beauty supplies. Loans in the commerce sector account for around 33% of our loans.
Socorro Velasquez Posadas is from Zitacuaro, Michoacan, Mexico. She needs a loan of $350 to buy merchandise for magazine sales.
Crecencio Morales is a mountainous community that is home to an indigenous population of approximately 8,000. Elder members of the population still speak the Mazahua indigenous languages and weave traditional clothing.
Residents of Crecencio Morales live in poverty, depending primarily on agriculture, commerce, and the production of artisan goods for income. Most homes are made of wood and have only two rooms with dirt floors. Families cook their meals on wood stoves, as gas and electricity are limited. Few residents have access to toilets or running water; most use outhouses and fetch water from community wells.
In Crecencio Morales, World Vision is providing families with business training; helping farmers increase agricultural production and incomes; attending to the health needs of malnourished children; increasing access to safe water through the installation of water tanks; and providing tutoring and recreational opportunities.
Socorro Velasquez Posadas is from Zitacuaro, Michoacan, Mexico. She needs a loan of $350 to buy merchandise for magazine sales.
Socorro used her loan from World Vision to invest in her catalog business and store, which runs with her daughter and son-in-law. For the catalog sales, she bought shoes and clothes. For her store, she bought stuffed animals, gift bags, balloons, gift clocks, diaper bags, and tissue paper.
She is happy that she is able to have her own store and believes that she wouldn't be able to have a successful business without this loan, although, sales have been low as she does not have as much merchandise as she would like. Her current challenge is getting a display table for her merchandise, however, her son-in-law helped her to paint some wooden crates which function as cheap (but attractive!) shelves.
Socorro continues to repay her loan on time. Thank you for supporting Socorro and World Vision Micro!
Socorro is very happy with her loan and is currently waiting for another loan so that she can go buy more merchandise for her business.
Socorro says her quality of life has pretty much stayed the same since receiving the loan since she and her family are just starting out with this business. However, she is very proud of her litle store.
She wants to have business growth and one day to have a store apart from her daughter and son-in-law. She also wants to enjoy good health, her own home, buy nicer things, have savings, and have better personal development.
Socorro has repaid her loan in full. These loan funds are now available to help another worthy entrepreneur in her community. Thank you for supporting Socorro and World Vision Micro!
