We didn’t get to help Kevin Orlando because he got funded. We hope that his future is fortuitous. We then chose Josefina from the Phillipines and she needs 1025$ to buy organic fertilizers. We were the last funders and she has been now fully funded. We hope that her crops sell, and that we get our loan back in the near future.
The Philippines’ location on the Pacific Ring of Fire and close to the equator makes the Philippines prone to earthquakes and typhoons, but also endows it with abundant natural resources and some of the world’s greatest biodiversity. The land is considered to be an emerging market and a newly industrialized country, which has an economy transitioning from being one based on agriculture to one based more on services and manufacturing.
Pros and cons of loaning
There are many benefits of this, such as:
- The woman gets a chance to develop her plants farm
- She can make sure her crops get better support
- We have the satisfaction of helping someone out
However, there are still some things we should take under consideration:
- There is a risk that we might not get our money back
- Her farm might not benefit as much as we would like
Looking over both the pros and cons, we can summarize that there are more advantages than disadvantages. There is always a risk in everything we do, but this case is worth it.
We hope that Josefina receives a loan of $1025 so he can buy organic fertilizer and pay to maintain her farm to provide it better support and improve its production, and that she and her family gets a better life.
Written with Ingrid, Sondre and Mathias