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Jose Amado
José is 45 years old. He lives in his own house with his life's companion, their 23 year old daughter and their little 3 year old granddaughter. José has a little paint and body workshop. He has had it for a long time and that is why he has experience and customers that prefer him more and more every day. José lives in very humble conditions and has decided to ask for this loan from FUSAI to invest in improving the roof and in building walls in the house. It is in very poor condition and not safe for the family. With the amount he has asked for, he will buy cement, sand, bricks, iron rods and galvanized sheeting. He hopes to have this loan because he can't make the investment on his own but he is able to make the monthly payments that the loan involves.
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José tiene 45 años de edad y habita en casa propia junto a su comapñera de vida, su hija de 23 años y su pequeña nieta de 3 años de edad. José tiene un pequeño taller de enderezado y pintura el cual tiene mucho tiempo de tenerlo por lo que cuenta con experiencia y clientes que cada día lo prefieren más. José habita en condiciones muy humildes por lo que ha tomado la decisión de solicitar este crédito a FUSAI para invertir en la mejora del techo y en la construcción de las paredes de la vivienda dado que se encuentran en mal estado y no es seguro para su familia. Con el monto solicitado comprará cemento, arena, ladrillo, hierro y lámina galvanizada. Espera poder contar con este financiamiento dado que no puede hacer la inversión por su cuenta pero tiene la capacidad de pago mensual que el crédito implica.

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

  • $7,500
    Average annual income
  • 768
    View loans »
    El Salvador Loans Fundraising
  • $25,698,900
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $500 helped Jose Amado to buy cement, sand, bricks, iron rods and galvanized sheeting to repair the roof and build walls in his house.
100% repaid
Repayment Term
14 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Mar 25, 2014
Listed
Apr 17, 2014
Currency Exchange Loss:
N/A
Ended:
Apr 17, 2015