Los Llanos El Tablon Group
She’s a tenacious woman who has had a small grocery store for the last three years that operates in a small section of her house; it’s open from 7am until 8pm. The advantage it has is its excellent location for sales so it earns good profits; the disadvantage is that she has competition so she must stock the store to keep her customers satisfied.
The loan Gladis is taking out is to buy groceries in general like sugar, rice, soft-drinks, lard, meat, eggs, chicken, cured meats, bread, cheese, butter, bullion cubes and coffee among other products. With help from the loan she’ll have more and better stock in the store and her customers will be able to find everything they need to prepare their meals and she will be able to cover her household’s and her children’s expenses.
Her goal is to make her store grow until it becomes a mini-market. Gladis has been a FAMA client for two cycles and she expects to pay the installments for her new loan punctually and responsibly like she’s done to date.
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