Honduras is known for being one of Latin America’s poorest countries. It has had a hard time diversifying its economy, but has succeeded in this a little by expanding its exports to cover things like apparel instead of just bananas and coffee. Even with this improvement, 45% of Hondurans live in poverty, women being more susceptible to extreme poverty. Poverty and violence are two reasons why foreign enterprises find it risky to invest in Honduras, which makes it even harder for marginalized groups to escape poverty. The country is prone to gang violence relating to narco-trafficking which has contributed to Honduras’ high homicide rates. Gang violence, the gender wage gap, and poor education all hinder the growth of the economy. Our borrowers in Honduras are resourceful and talented, and we are dedicated to supporting them as they work toward their dreams.
OUR PARTNERS IN HONDURAS
AHSETFIN
Partner Since 2014
AHSETFIN focuses on reaching out to disadvantaged poor people living in and around Tegucigalpa. 8% of their clients are illiterate and only 34% have formal education beyond primary school. 95% of their clients are in community banks, meaning groups of people share the risk and responsibility of paying back the loans. Most clients have set up their small businesses because they have been unable to find paid employment.
AMC - Honduras
Partner Since 2011
In 2007, AMC El Salvador decided to open a new microfinance institution in the southwest region of Honduras, where the offer of microfinance services is otherwise rare. With the birth of AMC Honduras, the organization was able to cover a strategic segment of micro-entrepreneurs and small farmers located between Honduras and El Salvador. AMC Honduras began with 7 employees in Choluteca and has since expanded to 26 employees in Choluteca, San Lorenzo, and Siguatepeque, where they serve over 6,000 borrowers, including nearly 5,000 women.
PRISMA-HONDURAS
Partner Since 2014
Located in the Honduran capital of Tegucigalpa, PRISMA is a microfinance institution that prohibits the use of the loans for practices that put natural resources and public health at risk.. Microenterprises comprise 70% of their lending portfolio and 84% of the total number of loans. PRISMA provides financing for solar panels in rural areas, housing and agriculture loans, and solidarity groups for women borrowers.
FINSOCIAL
Partner Since 2014
FINSOCIAL is a nonprofit whose mission is to provide reimbursable financial resources to those microfinance institutions that are too small to obtain funds from most traditional microfinance funders. The network of microfinance established by FINSOCIAL not only allows reaching thousands of remote and rural micro-entrepreneurs that did not receive financing from other microfinance programs, but it also contribute the generation of multiple development activities carried out by the partners of FINSOCIAL. FINSOCIAL has an alliance with World Vision, Root Capital and CEFA to provide financial education and technical assistance to the partners and their borrowers. Approximately 68% of their clients are participating in either solidarity groups or community banks.