Maria Esperanza Sunuc Estrada

Thank you for your loan. It has been disbursed to Maria Esperanza Sunuc Estrada by FAPE in Guatemala. We are excited to watch this business grow. Over the next 12 months, FAPE will be collecting repayments from this entrepreneur and posting progress updates on the Kiva website.

Watch a short video of Maria Esperanza here: http://www.youtube.com/watch?v=PkYdmx3Dxvc

Maria Esperanza decided to divide the money from her loan between her two businesses. She invested 40% (about US$270) in her convenience store and 60% (about US$405) in her business selling fruits and vegetables in Guatemala City.

The small store that she runs is doing well and part of her loan went to buying a bigger refrigerator so that she can sell more cold drinks, which she knows her customers will like. She is very business savvy and keeps her store open from early in the morning until late at night so that her customers know she is always open.

On the days when she makes the 2 hour bus trip to sell food in Guatemala City, her sister and other family members look after the store. She doesn’t have a stall in the city, but she has a set area where she sells and people know that her produce is good and seek her out among other vendors. She makes a steady profit from her sales and on weekends makes an average profit of 500 Quetzals (US$63).

Both businesses are doing well and Maria Esperanza is already planning what she will do with her next loan. One of the most popular products she sell sin her store is the dough to make tortillas, but she currently can only produce a small amount because of the size of the mill that she uses. She would like to purchase a larger mill so that she can increase production of the dough and draw more customers to her store.

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Maria Esperanza invirtió una parte de su préstamo (Q.2,000.00) en su tienda de productos de consumo diario que esta en su casa, y la otra parte (Q.3,000.00), los invirtió en su negocio de venta de verduras y frutas que tiene en la capital de Guatemala, la distancia de su casa a la capital de Guatemala es mas de 2 horas en autobús.

Maria Esperanza dice que en su tienda tiene invertido Q.10,000.00 y que le va bien, ese negocio lo atiende su hermana, mientras ella viaja todos los días para la venta de sus verduras y frutas, que es donde mas ganancias obtiene.

Ella dice que no tiene problemas en sus dos negocios, solo necesita mas capital de trabajo. Cuenta con un pequeño molino de nixtamal, allí se prepara la masa para hacer las tortillas, y ella quiere contar con un molino más grande, ya que el que tiene es pequeño.

Ella es soltera, pero tiene un hijo de 7 años de edad.

Dice que su éxito se debe a que se levanta muy temprano todos los días, y sale a comprar la mejor fruta y verdura que puede encontrar, para luego venderla a sus clientes.

Dear Kiva Lender,

You made a loan to a Kiva borrower in Guatemala that was posted by one of Kiva’s local field partners, FAPE (Fundación Para la Pequeña Empresa). This message is to update you on the impact that Kiva funds Kiva funds have made through FAPE and to let you know how you can continue to support FAPE’s work to provide financial services to the underserved and to alleviate poverty - one loan at a time.

Over the past three months, I have been working with FAPE in Guatemala City, and I have had the opportunity to get to know the incredibly hard-working staff and clients that make this foundation what it is. FAPE was founded over 25 years ago and holds a strong social mission to help improve the lives of Guatemalans living in a state of poverty in both urban and rural areas.

The core of FAPE’s lending structure is in providing small group loans; however, with the support of Kiva and lenders like you, they have begun offering slightly larger individual loans to borrowers with proven track records. The partnership with Kiva has allowed FAPE to support their clients in this new way and has in turn provided their clients with access to larger loans. Over the past year and a half of working with Kiva, FAPE has lent $150,000 to over 147 borrowers and has served to expand businesses and to improve the quality of life of many clients.

In addition to offering small business loans, FAPE also works with a number of pilot projects in an attempt to continue providing support and education to the communities they serve. A few of these projects include providing in-depth business training to clients, health care facilitation, and an extremely interesting project in the Santa Teresa Women’s Prison, located in Guatemala City.

FAPE was one of the only organizations to respond to the Guatemalan government’s request for rehabilitation programs in the prisons. Over the past two years, they have conducted a series of small business training seminars for the female prisoners and have disbursed about eight small loans – four of which were funded by Kiva lenders. I had the opportunity to visit Santa Teresa Prison twice during my time in Guatemala and spoke with several of the women, and I was overwhelmed by their commitment, responsibility, and true desire to learn.

One of the most dedicated women of the group is Mirna Lau. Mirna has a bubbly personality, an infectious smile, and a truly entrepreneurial spirit. Near the end of 2008, she took out a loan of $625 for a bread and pastry business that she planned to start. Much of the food consumed at Santa Teresa is brought in by the families and friends of prisoners and then sold to other inmates. Soon after receiving her loan, Mirna’s business plans fell apart. Rather than dwell on her misfortune, and knowing that she had monthly payments to make, Mirna taught herself how to make crafts out of felt and within months had built up a profitable business. In February and March of this year, she sold over 60 items and continues to have a waiting list for custom orders. She has had to start hiring other women to help her in order to meet the demand. When I spoke with Mirna, she was incredibly grateful to FAPE and to the Kiva investors who believe in her and who have given her an opportunity that she otherwise would never have had.

Mirna’s story exemplifies the true spirit and objectives of FAPE. The foundation isn’t just about issuing loans. It’s about creating a supportive and long-lasting relationship with the clients and about providing opportunity where oftentimes there is none.

From Kiva, FAPE and all the hard working borrowers here in Guatemala, we thank you for your continued support.

Submitted by Andrea Bouch, Kiva Fellow with FAPE