Inside an earnings-secured years, is actually microloans the clear answer?

Inside an earnings-secured years, is actually microloans the clear answer?

When Typhoon Haiyan placed spend this new central Philippines into the 2013, Bernadeth Cabusog are one of the many someone whoever existence had been turned into ugly. Their smallholding are wrecked with they, the lady family members’ chief means of provision. “It absolutely was the most difficult duration of our everyday life,” she recalls. “Our produce had been destroyed. We really needed some assistance.”

Cabusog took the advice out-of a neighbor within her village within the rural Cebu province and you may approached Lamac, a neighborhood farming co-operative. Lamac borrowed the girl as much as $450 to replant the lady crops regarding lettuce, cucumbers and you will tomatoes, making it possible for this lady to delay 1 / 2 of their repayment up to she is actually right back on her ft once again. Continue reading “Inside an earnings-secured years, is actually microloans the clear answer?”