Story of Patricio, Carpenter

Live: 18 loans to fund

This month: 103 loans funded thanks to 435 Babyloan lenders

Overall funds raised: 23 million euros!

Patricio

Carpenter

Patricio Pérez has been working as a carpenter since he was 7 years old. He grew up in a severely underprivileged family and started working in the family workshop as soon as he was old enough to get the hang of carpentry. He turned out to be so talented that he was able to open his own workshop as early as 18 years of age. Patricio is now a 52 year old proud father who runs a profitable workshop and even has four employees!

Microcredit gave me the opportunity to diversify my production and I have even been able to give my son a job!

The impact of microcredit on Patricio’s life:
Patricio used microcredit to purchase some wood, planks, hinges, lacquer and all the materials that are required to create beautiful, robust furniture. The carpenter thus managed to increase his production, fulfill more orders and maximize his benefits. He is now hoping to be granted a new loan that would enable him to deal with more sizeable orders and earn a monthly income € 600, which is close to twice the average revenue in Ecuador!

Focus on… Cottage industry in Ecuador

Handicraft still remains a booming sector in Ecuador. A great number of Ecuadorians choose the same path as Patricio and turn their craftsmanship into a source of revenue. Incidentally, the biggest handicraft market in South America is located two hours away from Quito, in a small Ecuadorian town called Otavalo, where all the artists and craftsmen of the area join together to showcase and sell their production.

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Toutes nos Belles Histoires

Babyloan is a social business founded by Arnaud Poissonnier, which combines microcredit, solidarity finance and crowdfunding. On Babyloan you make a solidarity loan: you choose a micro-entrepreneur in Europe, Asia, the Arab World, Sub-Saharan Africa or Latin America, who pays you back every month of your loan. In line with the idea of Muhammad Yunus, and his Grameen Bank, we are developing a social microfinance program for microentrepreneurs (mainly women) excluded from the banking system. While the impact of microcredit is complex to measure, we focus on lending low-cost money to our partners, Microfinance Institutions, in order to lower their interest rates. On Babyloan, you can also offer a solidarity gift, or develop your company's CSR approach, via our solidarity challenge platform in particular.

Babyloan edited by ABC Microfinance is registered as Intermediary in Crowdfunding to ORIAS under the n°17005376

Patricio

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