Los Emprendedores Group
Mario started his business eight years ago with the help of an uncle who later decided to work on his own. Currently he makes a living selling natural and pharmaceutical medicine. He leaves on Monday for the towns and communities to sell his products and returns on Saturday. The advantage is that he has his own customers; the disadvantage is that he runs the risk of being assaulted because he sells on foot.
Mario needs this loan to invest in buying medicines: natural, pharmaceutical, and to kill insects. With the support of this loan Mario will be able to continue with his business and improve his living conditions. One of his goals is to finish his house and have his own store.
Mario has been a client of FAMA for more than six years and he has made his payments punctually.
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