Nolvia is a determined woman who began working for a living at a very young age. She now has a small grocery store in her home, which she and her husband run. The store is well-used by their neighbours, with opening hours from 6am to 9pm. For the moment, Señora Nolvia has no health problems, but there are seasons when sales drop and so do her earnings. Her goal is to grow the business and in this way increase her earnings to improve her quality of life. She is seeking the loan to buy sugar, rice, soft drinks, butter, meat, chicken, canned foods, bread, cookies, churros, sweets, sauces, pasta, etc. With the help of the loan, she will have more and better stock in her store, and her customers will be able to buy everything they need. She has worked with [field partner] FAMA before and is very grateful for the support she has received. She is very reliable in making her repayments.
The other members of the group are: Vilia Oneida L. Z., who is seeking the loan to invest in her grocery store, and Carmen María T., who will invest in buying cosmetics that she will sell door-to-door in her community.
About FAMA:Honduras is one of the poorest countries in the Western Hemisphere with approximately 59% of people living below the poverty line. Familia y Medio Ambiente OPDF (FAMA OPDF) is a Honduran non-profit with no religious or political affiliation. FAMA’s mission is to provide quality and opportune financial services so that men and women have equal opportunities to develop their micro or small businesses, whether they focus on agriculture, manufacturing or services. FAMA operates 13 branches throughout Honduras and serves over 12,500 clients.
This is a Group Loan
In a group loan, each member of the group receives an individual loan but is part of a larger group of individuals. The group is there to provide support to the members and to provide a system of peer pressure, but groups may or may not be formally bound by a group guarantee. In cases where there is a group guarantee, members of the group are responsible for paying back the loans of their fellow group members in the case of delinquency or default.
Kiva's Field Partners typically feature one borrower from a group. The loan description, sector, and other attributes for a group loan profile are determined by the featured borrower's loan. The other members of the group are not required to use their loans for the same purpose.
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Success!! The loan was 100% repaid