Cumandá del carmen

Loan description:

Cumandá Olmedo is a butcher selling exclusively pork. She is 45 and married with 8 children, only three of whom are under the age of 18. Some of the elder children are studying at university. Part of the meat she sells comes from animals raised and slaughtered by her husband who is a pig farmer. He also buys and sells pigs from various parts of the province. Cumanda has a stall in the central market in the town of Catamayo and has requested a loan in order to use as working capital. The wholesale distributors deliver the meat to her and return one day later to take payment. However, Cumanda sometimes struggles to pay in cash the day after as not all the meat has been sold. Moreover, some of her regular customers are restaurants and small shops who take delivery from her but pay later often on a weekly basis. She needs to have cash available to improve liquidity. With her husband she has bought a small truck which they use to transport the pigs within the province. It is a relatively large loan for a butcher but Cumanda has a high turnover. She intends to repay the loan over 12 months.