Testimonials from Honduras and Cambodia

Entrepreneurs and farmers in Honduras don’t have things easy. Crime and gang violence have a negative effect on the local economy. Farmers also face additional problems such as the impact of climate change and falling prices. But there is hope. Thanks in part to the support of BRS, microfinancing institution Pilarh can offer thousands of people credit and guidance.

Excellent financial results and a strong social policy. At MFI (microfinancing institution) LOLC Cambodia, these two go hand in hand. With 200,000 borrowers and an average growth rate of 50% per year, the MFI is also receiving international praise for its social results. BRS Microfinance Coop is therefore investing with great conviction in LOLC.

René Banegas, CEO of BRS partner PILARH ODPF

“In 2018, BRS Microfinance Coop granted us a loan of a million dollars, with a term of three years. Extra capital that allows us to give an additional 1,000 customers a credit of 1,000 dollars.”

BRS and PILARH have been working closely together for several years. Among other things, they were able to set up an enterprise fund for Honduran youth and launch new savings products. In 2018, BRS breathed extra life into the cooperation with a new loan.

Problems in the agricultural sector mean that ever more financial institutions are withdrawing. Coffee, potato and strawberry farmers in particular are struggling. But PILARH won’t let these farmers down. With the support of BRS, they work with farmers to find tailor-made solutions, such as adjusting loan durations, rearranging debts and aligning the insurance offer with the real problems of that moment.

Read the full interview with Réné Banegas

Read more about the cooperation between BRS and PILARH

Honduran entrepreneurs tell their stories

Rosa is a cigar roller, Jose a coffee producer, Wuilmer a blacksmith and Jose a sugar cane farmer. What do they have in common? They work hard to shape their own future. And they are customers of Pilarh, from which, thanks to the support of BRS, they obtained one or more microcredits to increase and improve their production.

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José Osorio, artist

“PILARH was the first to believe in my dream. With a credit of 480 euros, I was able to purchase basic equipment. In the meantime, our company Trencadis has 14 employees.”

José from La Esperanza started his company together with his partner Katty, with support from PILARH. After six scary months without sales, customers began to arrive. In the meantime, the company has grown to 14 employees.

The success story of this Honduran artist-entrepreneur got a special twist when one of the BRS employees visited his studio and invited him to come and make a mosaic in Leuven.

Read more about this unique project

In BRS Microfinance Coop we find a like-minded partner

Socheat Nop, head of the Social Performance Management department at LOLC: “the customer is our guiding principle. Satisfied customers stay with you and attract new ones too.”

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