El Pantano Teupasenti Group
José Luis started his business 29 years ago when he bought a pig. The small profits he made were used to buy more pigs, and he now works as a butcher of both pork and beef. He also works as a coffee grower on a smaller scale. He works alone, but when he has a lot of work he takes on temporary employees to help him carry out the work.
José Luis has requested this loan to buy cows for butchering, and plans to buy enough to cover all his customers’ orders. He has not had any problems with his business as of yet as he barely has any competition, and his work generates very good income.
One of his goals is to become the main and most successful pig and cow butcher in the area. This is his third loan from FAMA, and he has made his past repayments on time.
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