La Seriedad Group
Update on La Seriedad GroupElvia is a member of 'La Seriedad' community bank. She is 50 years old, married, and has seven children (three daughters and four sons). Her husband raises livestock and works together with their sons. Elvia's goal is to see her children become professionals and see them working.
Elvia has been selling new and used clothing for 15 years. She will invest the loan that she is requesting in buying two bundles of clothing, especially fashionable styles. This will enable her to increase her sales, attracting more people's attention. With the support of the loan, she will have more merchandise and will therefore be able to increase her profits and improve her household finances. One of the difficulties she faces is that sometimes her customers don't pay. Her biggest dream is to save up so that she can buy her own sales premises because she currently makes her sales on foot and she has to deal with changes in the weather. Elvia has been receiving support from FAMA for 15 loan cycles. She is a client who has always made her loan repayments on time.
Ella se dedica a la venta de ropa nueva y usada desde hace 15 años. El préstamo que solicita lo invertirá en la compra de dos fardos de ropa, sobretodo estilos que estén de moda, de manera que pueda aumentar sus ventas llamando la atención de más personas. Con el apoyo del préstamo tendrá más mercadería y así podrá aumentar sus ganancias y de esta forma mejorar la economía de su hogar. Una de sus dificultades es que en algunas ocasiones sus clientes le quedan debiendo. Su mayor sueño es ahorrar para tener su propio local, ya que actualmente realiza sus ventas de forma ambulante y tiene que lidiar con los cambios del clima. Tiene 15 ciclos de recibir el apoyo FAMA a través de los prestamos que ha obtenido y es una clienta que ha cancelado sus cuotas puntualmente.
Previous Loan DetailsLuz Benita is a member of the La Seriedad communal bank. She is a 43-year-old shopkeeper and single mother of four children. She lives with her children in the community of San Nicolas. Many years ago her father lent her 500 lempiras and with that she bought some second hand clothing to later res... More from La Seriedad Group's previous loan »
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.
Concurrent and Successive Loans
Our Field Partners often work with borrowers over a series of loans as the borrowers build credit, take out bigger loans, and expand their businesses. In order to make it easier for our Field Partners to post loans for borrowers who have been listed on Kiva before, we allow them to post successive and concurrent loans for their Kiva borrowers. This means that our Field Partners are able to post a borrower's second, third, etc., loan on Kiva without having to re-enter all of the borrower's information.
This borrower has been listed on Kiva before, so you'll see an updated loan description, as well as excerpts of the original descriptions from earlier loans. Most borrowers take out loans consecutively, meaning that they receive a second loan after having repaid the first. However, sometimes our Field Partners give out concurrent loans, allowing borrowers to take out one primary loan and a secondary "add-on" loan along with it. These "add-on" loans are typically smaller than the borrower's primary loan and serve a different purpose. Because Field Partners can now post loans as successive and concurrent loans, you will be able to track borrower progress over time and see the various ways a borrower is working with our Field Partners through funds from Kiva’s lenders.
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