With the requested loan she will be able to stock her business with more groceries and varied products. That way her business will continue to stay afloat. One day she will be able to fulfill her dream of getting a house. The most important thing is to continue supporting her children’s education.
Her colleague in the group, Dulce Patricia, sells second hand clothes. She does this in an itinerant manner in the urban area of the city and its outskirts.
Both members are very punctual with their payments. They have worked with loans with FAMA for six cycles. They are very grateful to the institution for the support they have received.
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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