Maye 1 Group
He also generates other income by working as a day worker for other farmers. He sells the production at the local market.
He belongs to the Maye 1 communal bank, which is comprised of three members. In the photo Francisco is to the left, Vicente is in the middle, and Celio is on the right. All of them devote themselves to farming and live in the same community.
They have decided to request a group loan for 16,800 lempiras to pay for the right to install electricity.
Celio and the members of the group say that by having electricity they will modernize their production through the purchase and installation of water pumps and watering systems. This way they will get good harvests. It will also improve their families’ quality of life.
El pertenece a un grupo solidario quien tiene como nombre Maye 1 y está formado por tres miembros que en la foto se identifican así: a la izquierda esta Francisco, en medio Vicente y a la derecha esta Celio, todos se dedican a la agricultura y viven en la misma comunidad. Han decidido solicitar un préstamo grupal por 16,800 Lempiras, para pago de derecho a instalación de energía eléctrica.
Celio y sus miembros de grupo dicen que contar con energía eléctrica ya podrán tecnificar su producción mediante la compra e instalación de bombas para agua y sistemas de riego y sacar así buenas cosechas. Además mejorar la calidad de vida de su familia.
About Organización de Desarrollo Empresarial Femenino Financiera, S.A.This loan is administered by Organización de Desarrollo Empresarial Femenino Financiera, S.A. (ODEF), a Kiva Field Partner in Honduras. A leader in the microfinance sector since 1985, ODEF strives to combat poverty by offering a wide array of financial services to low-income men and women. The organization works with its parent NGO, ODEF OPD, to provide training and technical assistance to impoverished microentrepreneurs. By incorporating the entire family unit in this process, ODEF OPD aims to improve the standard of living through the creation of profitable enterprises. Visit ODEF’s partner page for more information.
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