Enriqueta Sepez Puac

Thank you for your loan. It has been disbursed to Enriqueta Sepez Puac 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.

Enriqueta is a spunky 64 year old who has been running her small store for over 7 years. She used her loan of $675 in two ways; to increase her merchandise and to help grow vegetables such as corn, beans, and zucchini which she then sells in the markets both in her small town of Santiago Sacatepuequez and in Guatemala City.

With the money that she invested in her store, Enriqueta purchased children’s clothes, baby blankets, tissue paper for kites, and other items. She says that sales have not been very good and that since many people don’t have work, there is less money to be spent on gifts. Holidays like Christmas and Valentines Day are usually good for business, but this year her sales were extremely low and she still has much of the merchandise that she was planning on selling over the holidays. Enriqueta sees the economy affecting many of the businesses around her and while there is a fair amount of competition among gift shops, she knows that no one is doing very well right now. Although it has been a hard year, she continues to make her monthly payments and hopes to begin selling more soon.

Enriqueta and her husband also rent out 2 small commercial spaces near their house which currently help to pay the daily expenses they have. Her dream is to better her store and also increase the amount of produce she and her husband grow to supplement their income.

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