Adding to basket
Reina Igmenia has had a business for 32 years. Her business is a store. She has provided for her four children with her store and her dream is to expand the store and stock it further.
Her loan will go to buying beverages: juice and soda, which is what she sells the most of.
In this group: Jose Alfredo, Lorena Del Carmen, Paul, Reina Igmenia
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Translated from Spanish by Kiva volunteer Catherine Dyck. View original language description.
Reina Igmenia tiene negocio desde hace 32 años, su negocio es un chalet, ella ha sacado adelante a sus cuatro hijos con el chalet y sueña con ampliar el chalet y surtirlo mas, su crédito lo va destinar a la compra de bebidas: jugos, gaseosas que es lo que mas vende.
This loan is made to solidarity groups through Kiva's Field Partner, ASEI in El Salvador. In solidarity group loans, if a member of the group is unable to repay their portion of a loan, the rest of the group will cover the remaining amount. This allows lenders to fund loans that may be higher risk profiles and smaller loan sizes. In addition, ASEI also offers complementary basic health services via mobile clinics as well as financial education and entrepreneurship programs. By supporting this loan, you're increasing financial access to a diverse community of borrowers.
COOPHEL is a for profit organization (previously known as ASEI) in El Salvador that provides financial and non-financial products via group and individual credits to micro entrepreneurs with limited economic resources with the goal of improving their living conditions and income level.
Kiva loans are facilitated through 2 models, partner and direct, that enable us to reach the greatest number of people around the world.
For partner loans, borrowers apply to a local Lending Partner, which manages the loan on the ground. Lending Partners are responsible for screening borrowers, disbursing loans, posting borrowers to the Kiva website for funding, collecting repayments and otherwise administering Kiva loans on the ground to borrowers.
For direct loans, borrowers apply through the Kiva website and may or may not be endorsed by a Trustee. Unlike Lending Partners, Trustees don't handle any financial transactions or have any duty to repay loans on behalf of their borrowers. Instead, Trustees take the role of providing support and business advice to their borrowers throughout the term of the loan.
A Lending Partner's average loan size is expressed as a percentage of the country's gross national annual income per capita. Loans that are smaller (that is, as a lower percentage of gross national income per capita) are generally made to more economically disadvantaged populations. However, these same loans are generally more costly for the Lending Partner to originate, disburse and collect.
Kiva loans are facilitated through 2 models, partner and direct, that enable us to reach the greatest number of people around the world.
For partner loans, borrowers apply to a local Lending Partner, which manages the loan on the ground. Lending Partners are responsible for screening borrowers, disbursing loans, posting borrowers to the Kiva website for funding, collecting repayments and otherwise administering Kiva loans on the ground to borrowers.
For direct loans, borrowers apply through the Kiva website and may or may not be endorsed by a Trustee. Unlike Lending Partners, Trustees don't handle any financial transactions or have any duty to repay loans on behalf of their borrowers. Instead, Trustees take the role of providing support and business advice to their borrowers throughout the term of the loan.
A Lending Partner's average loan size is expressed as a percentage of the country's gross national annual income per capita. Loans that are smaller (that is, as a lower percentage of gross national income per capita) are generally made to more economically disadvantaged populations. However, these same loans are generally more costly for the Lending Partner to originate, disburse and collect.
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