They're older and own their property, which they want to improve and refurbish. They're requesting a loan to put the finishing touches on the outside of the house and to install a slab in front of their house. Currently they have only a canvas that protects them from the sun and rain, but they're senior citizens and they need better security for their health and to avoid illness.
María Expectación receives a government pension and Francisco receives a pension from Pemex for his long service to that company. The income María Expectación earns will be to pay back the loan, and Francisco's pension is for the family expenses.
María Expectación has had previous loans with Kiva for her grocery store business. She was no longer able to run it because of her illness, though, so she decided it was better for one of her daughters to take charge of her business.
La señora María Expectación recibe una pensión por parte del gobierno y el señor Francisco es pensionado de la compañía de Pemex por sus servicios por tantos años.
Con el ingreso que recibe la señora María Expectación será para pagar el crédito y el pensión de recibe el señor Francisco es para los gastos familiares.
La señora María Expectación ya ha tenido créditos con KIVA los cuales fue para su negocio de abarrotes el cual por su enfermedad ya no pudo atenderlo y decidió mejor que una de sus hijas se hiciera cargo de su negocio.
About Housing Loans
Many poor families cannot afford housing that meets their needs. When you make a housing loan on Kiva, you give people access to flexible capital to obtain or improve their homes. Better housing means better health, sanitation, and even educational outcomes for children. A house can also be much more for entrepreneurs who run businesses out of their homes. In this way, housing and small business loans on Kiva share a common purpose: to alleviate poverty and enable families to enjoy more stable lives.
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Success!! The loan was 100% repaid