Microfinance Business in Argentina is Raising Capital

Crowdfunder: Juan Arambarri of Capace

Campaign type: We’re raising capital via an investment campaign

Campaign link: www.capace.org.ar

Twitter: @CapaceArg

Instagram: @Capace.ong

Goal: 1.000.000

Progress: 50k usd

Offering: Increase outreach so more vulnerable people can have access to fairer loans

Terms: Availability for withdrawal and below market yield

Anecdote: Mario was diagnosed with stones in the gallbladder which he had to pay from his own savings. Months later he was fired from his job with no kind of compensation. His only child had problems at school so she repeated a year. Just a couple of weeks later police kidnapped his bike, he used for work, due to a infringment. That same month he was injured in his new job as he had to manage heavy machinery. He had to pay for medical assistance from his own pocket. The next month, after a heavy storm he realized his ceiling was falling down. One month later he was fired from his job again. A couple of days later, his home caught fire and he lost almost all of his child’s belongings. Months later, his house was flooded due to heavy rain. All of these shocks had happened in less than 1 year and a half. This accounts to his extremely high vulnerability level. In this way, we tried to help him by giving him emergency loans for those urgent needs like a falling ceiling, the buying of clothes for his child or medical treatment while he was not having enough income. We agreed that he will only start paying when he gets another job and have a regular income. In the meantime, interest will not accrue so he could find a decent job in a less desperate situation. This is our target clients, and that’s why our loans need to match their needs and extremely fragile economic conditions so they can cover emergencies that can’t wait and pay when their disposable income is recovered.

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