The borrower is 50 years old, married, and has a seven-year-old son who is in his first year of his primary school education. His wife is a homemaker. In order to live securely, he is requesting a loan so that he can build a concrete house. The materials he will buy include 600 blocks, 29 bags of cement, nails, zinc, saws, framing squares, hinges, and wood. He will also cover the cost of labor. His dream is to gradually build his concrete home.
About Pana PanaPana Pana is a nonprofit civil association founded in 1990 in Nicaragua. The organization’s official name is Asociacion para el Desarrollo de la Costa Atlantica (Association for the Development of the Atlantic Coast) but they have always been know as Pana Pana which means “mutual help” in the local language.
Pana Pana offers loans for commerce, housing, and a small number of agriculture loans. They also have a small social development unit that runs Pana Pana’s non-financial services. This includes technical assistance for housing loans and the development of a water and sanitation project.
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.
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Success!! The loan was 100% repaid