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Fredis
Fredis, who is 42 years old, lives in his own house along with his wife and children. All his life he has worked the land as a day laborer, and in this way he brings sustenance to his household. His family is the most important thing for him, and it is for them that he works hard to give them better living conditions. A long time ago he started the construction of the kitchen, but for lack of money he didn't manage to finish, and the walls are still half built. This is why he is applying to FUSAI for this loan, to invest in the purchase of bricks, iron, cement, sand, and gravel to finish building the kitchen.
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Fredis de 42 años de edad habita en casa de su propiedad junto a su esposa e hijos. Toda su vida ha trabajado la tierra como jornalero y de esa forma lleva el sustento a su hogar. Su familia es lo más importante y es por quien trabaja duramente para darles mejores condiciones de vida. Hace mucho tiempo comenzó la construcción de la cocina pero por falta de dinero no logro terminar y las paredes quedaron a medias. Esta es la razón por la que solicita este crédito a FUSAI para invertir en la compra de ladrillo, hierro, cemento, arena y grava para terminar de construir la cocina.

Additional Information

More information about this loan

This loan will be administered by FUSAI (Salvadoran Foundation for Comprehensive Development), a Salvadoran NGO that owns Kiva partner Apoyo Integral. FUSAI will disburse this loan in order to reach a population that doesn't currently work with Apoyo Integral. This type of loan covers basic services (like housing and water), and supports small business and agricultural activities. Borrowers come from low-income families in rural and peri-urban communities, and are considered to be too poor or lack the proper guarantees to get credit through traditional banks or microfinance institutions. Before receiving their loans, they are vetted by local community organizations and enrolled in classes in financial literacy, and the importance of sanitation, potable water and clean energy. Additionally, FUSAI enables borrowers to guarantee one another and take out loans smaller than El Salvador's average. Important to note is El Salvador is considered one of the most dangerous countries in the world, holding the 2nd place in the ranking of murders per capita. All these FUSAI borrowers live in areas considered by the police as highly violent and dangerous, mainly because of gangs influence. Main risks they face in these areas are thefts, extortions, kidnappings and murders.

About Apoyo Integral

Apoyo Integral (Apoyo) is a nonprofit organization offering financial products that enable clients to increase their working capital, purchase fixed assets, buy and remodel homes, expand agricultural business and more. The organization’s target group is businessmen and women who have already established their businesses but need financial support to strengthen or expand them.

Like Kiva, Apoyo is committed to empowering women involved in business activities in rural areas. Kiva lenders’ funds will be used to expand these services to an even greater number of poor clients in rural areas.

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.

Tags

About El Salvador

  • $4,900
    Average annual income
  • 450
    View loans »
    El Salvador Loans Fundraising
  • $23,269,000
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $400 helped Fredis to buy bricks, iron, cement, sand, and gravel to finish building the kitchen.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Nov 4, 2013
Listed
Nov 16, 2013
Currency Exchange Loss:
N/A
Ended:
Feb 20, 2015