By Zoe Linko, BS in Chemical Engineering
Spartan Global Development Fund extends many microloans through services, such as KIVA, throughout the year. However, there are some larger loans that take more time that SGDF develops with the help of our field partner, Vilma Garcia. In a previous blog, -- which can be read here-- we discussed the necessity of Vilma’s role in our organization; her role is one of high importance in terms of relationships with loan recipients, recommendations for who to loan to, and communication between us and potential loan recipients. From Vilma’s recommendation, we are able to choose potential loan recipients, who then go through a process, including meeting with SGDF’s board of directors, in order to receive a loan. The loan recipient we most recently lent to is Walter Mejia.
Walter owns a small business in Antigua, Guatemala called Cafede Antigua, where he buys, processes, and sells coffee. He has had this business for about two years, and started it during the pandemic. Walter is now looking to grow his business with the help of a loan from Spartan Global Development Fund. The loan we extended to Walter will give him the opportunity to not only buy 400 pounds of coffee, but also the money to roast, grind, and package the coffee purchased. In total, the loan amounts to $1,500, much more than the average KIVA loan.
With this opportunity, Walter hopes to gain international buyers, which would greatly expand his business. The loan was extended in November of last year and has a duration of 12 months. By the end of the loan period, Walter will hopefully have a more robust and expansive business in which he can provide coffee not only across Guatemala, but the Unites States as well.
When given this loan, Walter said he would get samples of his coffee here to us in Michigan. Through the help of Vilma, on her trip to the United States as talked about in our most recently posted blog, she was able to bring us Walters coffee. Having gotten to try it first-hand, I can indeed say with confidence that our loan to Walter Mejia was worth investing in, and I cannot wait to see how his business is able to expand in the future.