Rio Claro Group
Karen sells her merchandise in different communities, working alongside her husband and traveling to her customers to sell. The only difficulty is that the area where she lives in insecure. She is asking for this loan to buy a bundle of used clothing and thereby supply her business with current and in-season styles. She will also buy cosmetics to sell.
With the support of this loan she will be able to attract more customers and she will continue having an economic activity that allows her to cover the expenses to maintain her family.
Her dream is to establish her business in her home, to have her own place to sell, and to begin a school to teach sewing. Karen will receive her first financing from FAMA and hopes to pay her installments 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