Update on Sol GroupNora is 28 years old, married and has one son. Her husband is a brick layer. She belongs to The Solidario Group, which is made up of two members who have different businesses in the municipality of Juticalpa. Nora is the group's coordinator and she sells silver accessories for women.
Five years ago, Nora followed the example of one of her neighbors and decided to start selling cosmetics through catalogs. After a few years, she decided it would be better to sell accessories. Her business does not have a name because she does her selling on foot and occasionally at her home when her neighbors or friends come to see her. The greatest difficulty Nora faces is the weather, as the temperatures in these months are very high. It is also difficult when she sells her merchandise on credit because sometimes they take a long time to pay her. The loan Nora is requesting is to buy raw materials to make some designs and accessories, and to buy current, trendy styles. With the help of this loan she will be able to stock her business with more and different products to satisfy her customers' different needs, which will allow her to increase her earnings. Nora has been a client of FAMA for 7 loan cycles and has always been punctual with her payments.
Hace algunos años atrás Nora siguiendo el ejemplo de una de sus vecinas decidió dedicarse a la venta de productos de cosméticos por catalogo. Luego de unos años decidio mejor dedicarse a la venta de accesorios. Su negocio no tiene nombre porque realiza las ventas de forma ambulante, y de vez en cuando en su hogar cuando sus vecinas o amistades llegan a buscarla. La dificultad más grande que enfrenta Nora es el clima, ya que la temperatura en estos meses es bien caliente y también cuando da la mercadería al crédito porque a veces se tardan mucho en cancelarle. El préstamo que esta solicitando Nora lo necesita para comprar la materia prima para elaborar algunos diseños y accesorios y también comprar estilos actuales y a la moda. Con el apoyo de este financiamiento ella podrá surtir su negocio de más y variados diseños para satisfacer las diferentes necesidades de sus clientes y de ese modo podrá aumentar sus ganancias. Nora ha sido clienta de FAMA desde hace siete ciclos y ha sido puntual con su cuotas de pago.
Previous Loan DetailsThe group “Solidario Sol” is made up of two ladies who perform different economic activities in the city of Juticalpa. Nora Patricia is the group’s coordinator and she sells silver accessories for women. She’s 28 years old, married, and has a four year old baby. Five years ago Nora followed… More from Sol 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
- 6 months (Additional Information)
- Repayment Schedule
- Aug 7, 2012
- Sep 27, 2012
- Currency Exchange Loss:
- Jan 19, 2013
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.