Las Amigas Group
Update on Las Amigas GroupElisa, a member of the Solidarity Group Las Amigas, is 50 years old, married, and has four children. Her husband works selling sweets. Elisa started out selling food, beverages, and bread to construction workers who work close, and later decided to open a grocery store. Most recently she has changed her business because the grocery store was not very profitable and today she works selling sandals and clothing. She works from 8:00am to 4:00pm, and she works together with her son. They sell their products from their car and also walking door to door, and they now have about 10 years of experience with their business.
Elisa will use this loan to invest in more clothing and sandals. With this help she will be able to provide more variety with her products, and with her added income she will be able to help her husband with the household expenses since he has been recently diagnosed with an illness.
Her dream is to have a larger business with greater assortment of products.
Elisa has been a client of FAMA for over 5 years and has always made her payments on time, and the loans she has taken in the past have helped to improve her quality of life.
Previous Loan DetailsJosé Medardo is married with 4 children. His children all go to school and depend on him. His wife sells shoes and new clothing. Previously, José worked as a primary school teacher but because of health issues he had to leave his job. As he didn’t want to be a burden on his family, he decided to… More from Las Amigas 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