Reyna wants to improve the conditions in her home because the roof has deteriorated due to the sun and rain. She is asking for this loan from FUSAI to buy galvanised sheets, tiles and wood and to pay for labour. She hopes to get this support as she does not have the capital to cover the outlay, but she will be able to pay the resulting loan instalments with what she earns in her business.
Reyna de 26 años de edad habita en casa de su propiedad junto a su esposo. Reside en condiciones muy humildes y junto a su esposo van buscando las formas de ir mejorando sus condiciones poco a poco. Reyna es una mujer emprendedora quien hace dos año se dedica a la venta de pan francés. Todos los días se levanta muy temprano para salir a promocionar el delicioso pan que cada día le demandan más. Su deseo es mejoras las condiciones de su casa ya que el techo se encuentra deteriorado por causa del sol y las lluvias. Solicita este crédito a FUSAI para invertir en la compra de lámina galvanizada, teja, madera y pago de mano de obra. Espera poder contar con este apoyo ya que no cuenta con el capital para hacer el desembolso pero con lo que gana en el negocio puede pagar las cuotas que el crédito implica.
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 IntegralApoyo 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.
About El Salvador
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This loan has been fully funded!