Leticia works selling food, an activity that she has done for ten years and that she learned from her mother. She works from 8:00am to 3:00pm and 6:00pm to 9:00pm. The advantage that she has is that she makes home deliveries and has contracts with some community events. Some of the difficulties she faces are that she does not have a store for her business so she works out of her house, which is far from the center of town.
With this loan, Leticia will purchase ingredients for the food she makes, such as meats, chicken, beans, butter, rice, bananas, sausage, vegetables, and more. With the help provided by this loan, she will be able to provide better service to her customers since she will be able to offer them everything they need.
Her goal is to establish a store that is more accessible to her customers in the center of the community. This is her first loan with FAMA and she hopes to meet her payments 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