Nelson Leonel is a persevering youth who graduated from Secondary School in a Technical Electronic program. He is 31 years old and in spite of economic and family worries he has continued his university studies with the enthusiasm that is characteristic of him. He needs to finish the last 14 classes of an Industrial Engineering Degree in which he has maintained an academic average of 80%. His longing is to improve his family's quality of life. He wants to achieve excellence in the job he has at a satellite communication company where he works as a technician. One of his objectives in continually studying to become more professional is to create his own family business. He wants to become an important businessman, creating opportunities for others and contributing to the development of the country.
Nelson Leonel es un joven perseverante egresado del colegio con el grado de bachiller técnico electrónico, tiene 31 años de edad que a pesar de los inconvenientes económicos y familiares a decidido seguir adelante y no abandonar sus estudios universitarios, con el entusiasmo que lo caracteriza tiene como objetivo cursar su últimas 14 clases de la carrera de Ingeniería Industrial en la cual mantiene un índice académico de 80%. Su anhelo es contribuir a mejorar el nivel de vida de su familia, lograr calidad en el trabajo que desempeña en una empresa de comunicación satelital en donde se sus funciones es a nivel técnico. Uno de los objetivos de profesionalizarse continuamente es el de crear su propia empresa familiar y ser un gran empresario creando oportunidades para otros y aportando al desarrollo de su país.
About this loan
Fundación CREHO (Honduran Foundation for Educational Loans) is a lending institution founded in 2002 in Tegucigalpa that focuses exclusively on student loans. It aims to be the leading private lending organization offering education loans in the country, contributing to the transformation of Honduras by supporting the training of qualified people.
Kiva funding will be used to support three different types of loans: university degrees, technical and vocational degree programs, and school supplies such as laptops and textbooks. Partnering with Kiva will allow Fundación CREHO to offer long-term, low interest loans with less stringent guarantee requirements to students who otherwise have almost no options to finance their education. Furthermore, at least one-third of Kiva funding will help the organization target students from low-income households and who lack the collateral generally required for these loans.
Please note that Fundación CREHO is a non-traditional Field Partner, in that they are a student lender, not a microfinance institution. Loans to students attending a university degree program may have terms up to 10 years and lenders should not expect to receive payments while the student is still attending the university (4-5 years). In addition, payment plans are uploaded to Kiva for the full tuition cost, however if for any reason the full amount is not needed to complete the degree program, the unused balance will be repaid to lenders as a pre-payment as early as possible.