 GA borrower Ms. Delia The 7 train roars above Delia as she stands on Roosevelt Avenue in Queens, New York, selling her Italian ices and ice cream. Like most ice cream pushcart vendors, Delia works long into the summer nights in the hopes of generating enough income to survive the cold winter months. If Delia's savings are not adequate enough for her to carry on during the off-season, she searches for jobs in factories to supplement her income.
Originally from Cuenca, Ecuador, Delia came to the United States thirteen years ago in search of greater opportunities and a better lifestyle. Escaping from the mala vida, or the bad life, she left behind her alcoholic husband in order to save herself and her four young children from their harsh world. With the determination to provide a better life for her children, Delia sent them to live with their grandmother while she made the trek to the U.S. all alone. Through working in factories, she was able to survive and send money to her growing children back in Ecuador.
Delia worked in factories for many years until one day her friends suggested that she start her own business. Advising her on the profitability of selling ice cream, she set off to start her own ice cream business. She began by borrowing money from money-lenders at an interest rate of 3% per month. Delia used this money to buy her first ice cream pushcart. In New York City, a money lender's interest rate can range from 10-15% per month. Fortunately, Delia was charged a lower interest rate due to her relative's affiliation with the lenders.
Delia received her first loan of $2,000 for 1-year to purchase a large freezer, ice cream flavors and supplies. Her weekly installment is $44: $40 for capital and $4 for interest. After 6-months of timely loan repayments and Center Meeting attendance by Delia, her group and center, Delia became eligible to apply for a loan advance of $1,100 on her 1-year loan term. With this loan advance, she was able to renew the permit for her ice cream pushcart and keep her business afloat. Grameen America offers its regular borrowers the option to receive a loan advance after six months if they opted for a 1-year loan term.
 In spite of the recession, Delia is able to run a profitable business and repay her loan on time. At present her running capital is about $2,700. Delia has received a total loan amount of $3,100 from Grameen America and has repaid $1,500. She opened a savings account and has deposited a total of $220. Grameen America requires each borrower to save $2 per week in their savings account but Delia always saves more than $2 every week. Delia will be eligible to receive her 2nd loan in August just in time for the fall. She plans to start another business during the winter in order to avoid working in factories during the frigid temperatures in New York.
Currently, Delia is happy to run her business and save the earnings she would otherwise have to pay a money lender. She is able to send more money to her children in Ecuador which makes all her sacrifices and efforts worthwhile.
Report by : Emily Medina, Grameen America
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