Karen Patricia’s story
Karen is 35 years old and is a professional trade expert and certified public accountant. She lives with her husband and 2 children who are 11 and 9 years old. She is currently studying for a degree in Business Law and has 6 classes to go before graduation. This young woman is considered to be a committed person, dedicated to every assignment and act. Her motivation to continue her university studies is the she will be able to function and distinguish herself as a professional and the degree will open the door to many opportunities to a better life for her family. She is committed to being a successful professional and example for others and she also wants to contribute to her country and believes that, through the academic preparation of young people, progress can be evolutionary and result in total improvement. Her future plantar to continue to prepare professionally and dedication to her family.
This loan is special because:
More about this loan
About Fundación CREHO:
Fundación CREHO (Honduran Foundation for Educational Loans) is a lending institution founded in 2002 in Tegucigalpa that focuses exclusively on student loans. It aims to be the leading private lending organization offering education loans in the country, contributing to the transformation of Honduras by supporting the training of qualified people.
Kiva funding will be used to support three different types of loans: university degrees, technical and vocational degree programs, and school supplies such as laptops and textbooks. Partnering with Kiva will allow Fundación CREHO to offer long-term, low interest loans with less stringent guarantee requirements to students who otherwise have almost no options to finance their education. Furthermore, at least one-third of Kiva funding will help the organization target students from low-income households and who lack the collateral generally required for these loans.
Please note that Fundación CREHO is a non-traditional Field Partner, in that they are a student lender, not a microfinance institution. Loans to students attending a university degree program may have terms up to 10 years and lenders should not expect to receive payments while the student is still attending the university (4-5 years). In addition, payment plans are uploaded to Kiva for the full tuition cost, however if for any reason the full amount is not needed to complete the degree program, the unused balance will be repaid to lenders as a pre-payment as early as possible.