Carmen Russell of Morass Lane in Hertford, Westmoreland is no ordinary micro entrepreneur. Seeing the need for a grocery shop in her community, she grabbed the opportunity and started her business some 18 years ago. Her beginning was humble; a small edifice constructed of wood with zinc roofing. She offered just the basic items but as the community expanded the demand for more and varying products increased.

It was during this time that the Savanna-La-Mar branch of Micro Enterprise Financing Limited approached her with an offer for a loan. She accepted and got her first loan of Forty Thousand Dollars ($40,000.00) which she used to purchase stock. Business went well in her first cycle; she repaid her loan on time and was never late. She had also started keeping records of her transactions which assisted her in keeping track of her profit.

In her 2nd cycle she borrowed Eighty Thousand Dollars ($80,000.00). She maintained good business acumen, with savings totaling $49,723.41. By this time she started considering putting up a more permanent structure. She went ahead and began building a concrete structure around the wooden one. During her 3rd cycle, borrowing One Hundred & Sixty Thousand Dollars ($160,000.00), the building was completed and fully stocked.

Miss Russell is currently in her 4th cycle, receiving a loan of Two hundred And Fifty Thousand Dollars ($250,000.00). She has received four (4) loans to date from Micro Enterprise Financing Limited (MEFL) totaling Five Hundred and Thirty Thousand Dollars ($530,000.00) and has maintained a sterling payment record as well as amassing savings of $106,986.00.

Back to previous page | Next