Telica Abajo Group
Update on Telica Abajo GroupFrancisca is 38 years old, member of the communal bank Telica Abajo, married and has six children. Her husband makes a living from farming. She started the business two years ago, with a small loan started buying household products to sell. Little by little with the profits, she bought more products until she open a general store. She learned from her parents, whom make a living in the business.
She opens from 5:00am to 10:00pm. Her advantage is that there is no competition as a result has many customers. One of her difficulties is that she has to travel to the city to buy the merchandise because the providers don’t come to her community.
She is requesting a loan to buy products such as: rice, sugar, beans, butter, soap, salt, candies, soft-drinks, among others. With the help of this loan, she will have a wider product offering to offer to her customers all what they need. Her goal is to grow the store and have a wider product offering to satisfy her customer’s needs and with the profits cover her family expenses.
Francisca has requested three loans at FAMA (Field Partner) and has cancelled all her quotas punctually.
Previous Loan DetailsAida del Carmen is 31 years old. She is married and her husband is a farmer. They have four children, three of whom are dependent upon her. They go to school. When she was a girl she learned the trade of baking bread, and she currently continues doing so. One day she had a financial emerg... More from Telica Abajo 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
- Repayment Term
- 8 months (Additional Information)
- Repayment Schedule
- Apr 23, 2012
- Jul 1, 2012
- Currency Exchange Loss:
- Nov 15, 2012
Photo from previous loan
Kiva allows our Field Partners to re-use the same photo for individual borrowers that have been posted on Kiva's website once before in a 24 month period, and we allow them to re-use group photos for up to 24 months, provided that 80% of the current group's membership is represented.
Taking, collecting, and uploading photos of borrowers is one of the most challenging elements of using Kiva for our Field Partners. In order to make Kiva easier for Field Partners to use, we have allowed them to post successive and concurrent loans without taking a new photo of the borrower if the criteria above are met.