He leaves to sell milk from his car at 6:00 am until 12:00 pm and spends his afternoon taking care of the grocery store. On occasion, difficulties have presented themselves, being that in the summer it is more complicated because there is less production and as such his earnings are reduced.
With the help of this loan he will be able to purchase products such as rice, sugar, beans, butter, soap, detergent, refreshments and sweets, among others because he needs to stock the grocery store to offer his customers all that they need. One of his challenges is offering his community better service giving them lower prices and better attention. His goal is to come to have a small market where his customer can find all that they need.
Juan has been a client of FAMA for more than 10 years and has been punctual with his 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