Los Valientes Group
Nolvia started out selling bread, tamales and pies. She started the business on her own initiative and it has helped her to support her children as it falls to her to work and provide for her children alone. Nolvia now has a grocery store and, on weekends, she also sells clothing and sandals. She works together with one of her daughters and works from 6.00am to 9.00pm in the grocery store. Nolvia needs this loan to invest in buying products such as rice, oil, sugar, churros, sweet treats, soft drinks, etc. She will also buy clothing and sandals. With the help of this loan, she will be able to stock her business and offer her customers everything they need. The only problem she faces is the crime in her country as she makes her sales as an itinerant vendor and therefore runs the risk of being mugged. Her goal is to be able to set up her clothing and sandals business in her home so that she no longer has to go out and sell in the streets. This is her fourth loan from FAMA and she repaid her previous loans on time.
About FAMA:Honduras is one of the poorest countries in the Western Hemisphere with approximately 59% of people living below the poverty line. Familia y Medio Ambiente OPDF (FAMA OPDF) is a Honduran non-profit with no religious or political affiliation. FAMA’s mission is to provide quality and opportune financial services so that men and women have equal opportunities to develop their micro or small businesses, whether they focus on agriculture, manufacturing or services. FAMA operates 13 branches throughout Honduras and serves over 12,500 clients.
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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Success!! The loan was 100% repaid