MACARIO, VENDOR EXTRAORDINAIRE

“Macario is in the business of selling clothes and other items. He travels around the community and also to the rural sector, specifically targeting friends, family, and acquaintances. Macario has been selling clothes for about six years. Although his business is somewhat profitable, it does not always provide enough for him and his family. Therefore, Macario also buys and sells rice. He travels in his truck to rural Ecuador where he buys directly from the rice farmers. He sells the rice to many small stores around Guayaquil.”

Back in January, Macario needed a loan to buy school supplies. He needed to supplement his clothing and rice business, and knew that the back-to-school time was a perfect time to sell school supplies. So, along with a bunch of other people, we loan him money to do just that. :)

He got the money, but like Perla (above), Macario defaulted on the loan. Actually, I’m guessing the default rests squarely with MIFEX. Our loan to Macario was his third with MIFEX, as he had already successfully repaid two loans in full. In fact, in his application, MIFEX said, “Macario has proven to be a very responsible client who is a savvy investor.”

Regardless, I like his story and really like the funny look on his face in his picture above, so let’s forgive him, eh? :)