Unidas Para Vencer Group
Ada has sold fruit, vegetables and snacks for several years, an activity that has turned out to be very profitable. She works with her husband and their schedule is 6am to 6pm. Her advantage is that she has many customers and the business generates profits to cover her costs.
The loan Ada is asking for is to buy fruit and vegetables. With help from this loan she will have her business better stocked. Her goal is to have a larger, well-stocked business and to get a larger locale.
Ada has been a FAMA client for nine cycles and to date has been punctual with her installment payments.
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