Thanks... both for helping out "my guy," and for the explanation of expired loans.
I chose Luis for a few reasons:
1) Having been to Ecuador, I have a personal connection with the country, and understand some of the poverty there.
2) Theoretically, fruits/veggies and juice are a wholesome and nutritious business endeavor
3) While part of the loan is for supplies to resell, I appreciated that part of the loan (and I assume the related longer term) is for a capital expense--an industrial juicer. (Often, I just see loans which are for the supplies to sell... groceries, or lumber, or charcoal... my concern is that some of these loans/businesses are very short-term focused, and will simply need another loan in 6 months to sustain their business)
4) The Field Partner states that it is based on Christian values, and is primarily owned by a mission organization. On top of that, the Field Partner has a 4 star rating.
Your reply about the back-filling of loans reminds me that my decisions need to incorporate an evaluation of the Field Partner as well as the individual/group. If the field partner is dipping into capital to fund loans which are not being filled, then the field partner may not be stable. In some sense, our loans are supporting the MFI as much as they support the individual.
Your comments about consumer loans are very helpful, and also good to keep in mind.
Perhaps we can write a new poem:
What happens to a loan expired?
Does it dry up
like a raisin in the sun?
Or fester like a sore--
And then run?
Does it stink like rotten meat?
Or crust and sugar over--
like a syrupy sweet?
Maybe it just sags
like a heavy load.
Or does it explode?
(With apologies to Langston Hughes!)