Augustine Ougo is a father of three and lives with his wife in Kasabuni, near Baba Dogo. He owns a grocery store where he earns his living and provides for his family. He sells a variety of fruits and vegetables. He is also a tailor and repairs clothing in his free time. With his most recent loan, Augustine was able to boost his tailoring business and travel to western Kenya, where he has established a branch of his business. Now he can ship clothing from Nairobi to western Kenya, so he has seen a substantial growth of his profits. He is so grateful for the loans that BigDent has been able to provide for him.
Caroline Njeri Ngugu is married and has three children. She joined a Missions of Hope accountability group in 2010. She sells soap and canned foods as her business. Because her husband is often ill and unable to leave his bed, Caroline has been growing her business to better care for her family’s needs. Because of these loans she has been able to put her children through school and has sent two to college. She is very grateful
Benson Ouma is a member of a microfinance self-help group located in Mathare North, the same neighborhood where his mobile phone business is located. Benson buys, sells, and repairs mobile phones and sells phone accessories and phone credit. He has operated this business for more than 15 years and is considered an expert in his community. Since he joined BigDent he has been able to grow his business substantially, and is now able to employ two staff to assist him. He has never defaulted on a loan payment and is still growing his business through loans from the microfinance department.
Nicholas Ngilu is a young father who is currently running two businesses in the Gikomba markets: a butchery and a small restaurant that serves primarily sodas and other cold drinks. With his last loan he was able to make several repairs to the restaurant structure so it looks more professional and welcoming. He is so happy that he can consistently pay his child’s school fees and provide for his family’s needs.
Emilio Nyaga is a young father and entrepreneur. He buys and sells second-hand clothing in Gikomba with the help of his wife and a few staff. His staff re-tailors clothing to the size and needs of their customers. His business has been growing quickly and he is reaching his goals. He has two children who are consistently in school, and he was recently able to pay medical bills for one of his children out of his own funds. He looks forward to continue growing his business so he can provide the best life possible for his children.
Want to help?
Here are two ways you can help families like the ones featured in this newsletter to move from poverty to success:
1.Make a donation to a BigDent client! We have many to choose from on the BigDent website. It’s easy and tax deductible.
2. Former CMF International REACH intern Darrin Chitwood is raising funds to provide new laptop computers for the staff of the Missions of Hope microfinance office in Nairobi. These are the folks on the ground who work with BigDent clients, providing training, accountability and Christian business advice. You can donate to Darrin’s cause here.
What a Difference You Made!
BigDent Microfinance 2014 Year-End Stats
Total number of women and men helped since BigDent began: 3,896 (70% increase from 2013)
Total number of clients with loans outstanding: 1,240
Number of new clients this quarter: 220 (You helped a total of 991 new clients in 2014.)
Outstanding loan balance: $599,584
Number of new loans this quarter: 180 (Thanks to you, 554 new businesses started in 2014.)
Total amount of funds loaned out this quarter: $292,930 (Almost $1 million loaned in 2014.)
Loan repayment rate: 95%
Number of clients trained in 2014: 536
Number of potential clients currently in training meetings: 324
Number of new business accountability groups this quarter: 8 (A total of 196 business accountability groups now, which is a 24% increase from 2013!)
Total amount of money SAVED by clients to date: $388,831 (An increase of 31% from 2013.)
Number of clients waiting for subsequent loans: 853
Number of clients who have completed training and awaiting first loans: 508
Number of clients in 2014 who reached a point of business sustainability and no longer need a loan: 515
