Living in the jungle is a new experience for me. I’ve lived in Los Angeles where driving on Wilshire is a battlefield, and I currently live in London where
double-decker buses and black cabs threaten human existence. Here, the rains pour down with vengeance, and moto-taxis tear through the bumpy streets.
At this point of the volunteer project, we have officially reached our halfway mark. This week, I went to an information session and loan application
meeting for an organization called Root Capital. They are a non-profit social investment fund based out of Cambridge, MA with an office in Lima. One of the
clients I am working with on my project is a Tocache-based cocoa association that needs working capital funding. Ibsen, the association founder, came
well-prepared with financial statements and cocoa production projections. I noticed that our designated loan officer spoke English with an American accent,
and introduced myself as a PIMCO EEP volunteer consultant. His name was Renzo, and he moved to Lima from the Cambridge headquarters a month ago. We had a
few hours before he needed to catch his flight, and I was able to meet with him to ask some questions about successful loan applications. Through Renzo, I
learned that Root Capital’s investors prefer receivables as collateral, and that fixed assets are not preferred. A copy of the sales agreement with the
buyer will be sufficient. Makes sense. I had a hard time imagining short-sales in a jungle town! Anyone reading this want to buy a house with dirt floors
and no electricity or plumbing?