This loan is in group form but personally she is asking for 17,000 lempiras and this is the sixth loan with the institution. She will use it to buy cosmetics such as creams, deodorants, make up and lotions for her business to increase her revenue. Her aim is to provide a better quality of life for her family.
The group is called Alegría (happiness) and is made up of two people who live in the same community. They are both traders and have requested a group loan of 26,000 Lempiras to buy cosmetics and lotions to sell. Doris is pictured on the left in the pink blouse and Sonia is on the right.
About Organización de Desarrollo Empresarial Femenino Financiera, S.A.This loan is administered by Organización de Desarrollo Empresarial Femenino Financiera, S.A. (ODEF), a Kiva Field Partner in Honduras. A leader in the microfinance sector since 1985, ODEF strives to combat poverty by offering a wide array of financial services to low-income men and women. The organization works with its parent NGO, ODEF OPD, to provide training and technical assistance to impoverished microentrepreneurs. By incorporating the entire family unit in this process, ODEF OPD aims to improve the standard of living through the creation of profitable enterprises. Visit ODEF’s partner page for more information.
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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