Project Updates 2.March.2012

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2012-03-01_18-34-23_797In the interest of keeping a running record of what is going on here in Trujillo, I’m going to give a quick summary of everything. Just think of this as your news blurb from Dale.

  1. Guinea Pig Farm– Huancaquito Bajo
    1. This project has been “running” for 2  years and has yet to make a single payment. Since we told him that we where going to liquidate the project, suddenly cuyes have started dying. No bodies to show for it though. We are all pretty sure he is selling them and pocketing the money. Walter (the guy I live with) has expressed some interest in buying some of the cuyes from this project. A more promising prospect come from a current project in the classes we are teaching.One of the participants is looking at starting the idea. We are looking at expediting his business plan so that he can take over the failing project. The trick is we have 1 week before Dave comes to prove how this project will be different from the failed projects.
  2. Bakery
    1. Their accounting records are a nightmare. we found about 3k Soles they have lost last year from not keeping good records. We have decided to create a Task List for them and work on it over time. One of the major changes (that also has to be presented in a week) are their new goals for after the loan. We are hoping to have them expand the business and stay profitable. Its been rough getting goals out of them though.
  3. Yogurt
    1. This project was started but the lady is charge passed away. That was 2 years ago. No one sold the assets. They are finally being sold on Tuesday. Reported to Dave when he comes.
  4. Mini Market – Alto Moche
    1. We have visited this project once but everything is going pretty well. Not much to report.
  5. Internet Stand
    1. These guys are making payments to their loans on time but there has been some miscommunication. We took a look at their financials today and realized they have a very thing profit margin. This means that slight deviations in sales or costs cause a negative return. We are planning on taking a look at their costs to make sure its being reported correctly. After the loan is paid off, they business has a sustainable model every month
  6. Milk Farm
    1. I really don’t have a good feeling about this project. However, my job isnt to have gut feelings. Its to get this project up and running. So that’s what I’m going to do. I’m going to give it the best chance possible at succeeding. It might kill me. Something else to be presented to Dave when he comes.
  7. Taxi – Jhoni
    1. Didn’t put the GPS in his taxi like we told him to. His taxi was stolen a few months ago. Now he has a Loan and no taxi. He is still paying his payments though.
  8. Taxi – Susana
    1. In the original loan, they left S/. 4000.00 of the approved amount ‘in the bank’ to use for repairs down the road. That time has come. The question now though is if he really needs the repairs or if its just the mechanic trying to make some money.
  9. Juicer
    1. This was a project that was rejected last year. However, we have gotten approval to take another look at it. We spoke with the applicant today. Honestly though, we need a lot more info before we can start putting a proposal together. Again, another presentation when Dave comes.
  10. Shoe Sales
    1. This was another rejected project that we have been asked to take another look at. The details of the proposal have changed so dramatically that it requires a completely fresh look but I haven't gotten many good vibes from it yet.
  11. New Groups
    1. These are the groups that have been approved but that haven't signed the loan docs yet. This is because the lawyers have the program docs and are going over everything right now. We see some light at the end of the tunnel. The lawyers say that they have finished the papers and want to review them with DanPer. They should be coming down next week. Its going to be a ton of work getting them up and running but I'm ready for it. Hopefully it happens soon.
  12. Classes
    1. Classes are going well. The first 2 lessons may have been faked a little bit but the last lesson is going to require them to go out and really look for reliable information to start their business with. Elena will be teaching the legal lesson next week. We are trying to teach 2 lessons at a time in order to have a few weeks to help them get information together.

Let end it there. 13 is unlucky anyways.

 

Dale Out.



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