Update on FaustoDon Fausto is a responsible, hardworking person who lives with his wife and three children in the community of Chorrera in the south of Honduras. He owns a corner store. Don Fausto needs this loan to buy corn, rice, lard, beans, bread, cheese, butter, sugar, drinks, coffee, etc. With the loan, he hopes to increase his sales by having more products to offer the customers who visit daily. This will allow him to better the lifestyle of his family and household. In the future, Don Fausto hopes that his business grows enough to become a small grocery store so he can continue to support his family and children through their schooling, which will allow them to have better opportunities. Choluteca, Honduras - September 2012
Don Fausto el préstamo lo necesita para la compra de: maíz, arroz, manteca, frijoles, pan, queso, mantequilla, azúcar, refrescos, café, etc. Con el préstamo espera aumentar las ventas al tener más productos que ofrecer a los clientes que lo visitan a diario, al igual con los ingresos mejorar el estilo de vida de la familia y el hogar.
Don Fausto en el futuro espera que su negocio crezca hasta convertirse en un mini mercadito y seguir apoyando a su familia y a sus hijos a terminar sus estudios y que se conviertan en personas de bien y con mejores oportunidades.
Choluteca, Honduras – Septiembre 2012
Previous Loan DetailsSr. Fausto is an enterprising man. He works hard to maintain his business, a corner grocery that he operates from a room in his house in Chorrera Namasigue, a small rural town in the "departamento" of Choluteca. He has operated the business for more than 10 years. Fausto has 3 children, all in... More from Fausto's previous loan »
Prisma Honduras, S.A.This loan is administered by Prisma Honduras. Prisma is one of Kiva's first field partners in Central America and has funded over 2,500 entrepreneurs through Kiva since 2008. Prisma funds smaller than average loans for micro-entrepreneurs to help them grow businesses in urban and rural areas. To improve living conditions in Honduras, the organization strives to empower women who lack access to traditional financial services, and promotes solar panels to deliver clean, affordable electricity to rural areas. Through its four branches in southern and central Honduras, Prisma provides access to financial products to some of the poorest and most isolated communities in the country.
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.
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Success!! The loan was 100% repaid