Emelda started her business 12 years ago making pastries and doughnuts. Currently she continues with the same business but she sells wholesale as well as a variety of sweets. Her business hours start in the morning and end at 7 p.m.
Emelda needs the loan she's requesting to invest in buying corn, meat, soda, flour, sugar, and other ingredients. With the support of this loan her life will change a lot because she'll have more stock in her business and she'll be able to offer her customers various sweets. Her sales will increase and her profits as well.
Her challenge is being able to get her family ahead and make her business grow. Her dream is to be a successful micro-entrepreneur and be able to set up her cafeteria downtown because it's an area where there are more sales.
This is her second loan with FAMA and she has made her 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