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SGS Soluciones Patrimoniales (SGS) is a Mexican social enterprise working to provide innovative and affordable housing solutions to the 5.8 million rural families living in unsafe housing conditions in Mexico. Since first partnering with Kiva in 2015, Kiva lenders have lent more than $119,000, allowing SGS to provide affordable and safe housing to over 100 single mothers in underserved areas.
While historically a stable and sustainable organization, the COVID-19 crisis has significantly impacted Mexico's economy, which has severely impacted SGS's operations, including laying off staff, cutting salaries, and closing two branch offices. As a result, their ability to disburse loans, collect repayments, and continue housing construction projects has been reduced.
Like many businesses around the world, SGS is unable to operate normally as a result of the crisis, leading to a need to access flexible working capital to be able to rebuild operations, which includes paying salaries and operating expenses. This loan of $180,000 will help SGS weather this crisis and be in a position to continue to serve their borrowers in the aftermath of the pandemic as they recover from the economic impacts of the crisis.
This loan is part of Kiva’s Crisis Support Loan program to assist our Field Partner organizations directly so they can continue to support our borrowers. Because it is part of a pilot program, this loan may have a higher risk. Read more in the "More about this loan" section below.
Translated from Spanish. View original language description.
