More information about this loan
This loan is part of FAMA's program to support young entrepreneurs in Honduras between ages 18 and 30. Financing will be targeted to vulnerable young people who are identified using an income study. These are individuals who have operated their own businesses for less than a year but have gained experience through working with family members or taking a training course. All of them need capital to expand their new businesses. Accordingly, loans provided through the program have three-month grace periods to help entrepreneurs get established before they need to start repaying. Recipients of these loans will also receive financial education through FAMA's development program, including courses on budgeting, savings, loan management and negotiation. Loan sizes may be larger than normal to help recipients cover the high upfront costs of launching a business.
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.
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