With the support from this loan, Martín plans to purchase seafood as well as health and beauty products to stock his businesses. He hopes this investment will help him to strengthen and expand his businesses, customer base and the variety of products he can offer to clients.
Martín de 44 años de edad reside en casa de su propiedad junto a su compañera de vida y sus 4 hijos de 21 años, 20 años, 16 años y 11 años de edad. Martín se dedica a la venta de Mariscos en las diferentes zonas de su localidad. Además también se dedica a la venta de productos por catálogo junto con su esposa. Estos negocios son su principal fuente de ingresos y los que le permiten llevar el sustento a su hogar. Con el fin de hacer crecer su negocio solicita este crédito a FUSAI para invertir en la compra de mayor cantidad de mariscos y productos de belleza por catálogo para tener un mayor inventario que le permita aumentar más su clientela.
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.
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Success!! The loan was 100% repaid