Gloria Leticia T. is the president of a support group called Suenos Exitosos ("Making Dreams Come True"). She started in sales 3 years ago, working along the side of a toll road in her town, but she now operates the business in her house and her sales have increased. Her fellow member, Carlos, owns a glass business and earns a living making and installing windows. Another membr, Ofelia, works as a street vendor in her town, selling blouses. Each member has a goal in mind and they are applying for loans to increase their working capital so that they can supply their businesses, increase their incomes and help their families.
GLORIA LETICIA T. ES LA PRESIDENTE DEL GRUPO SOLIDARIO LLAMADO SUEÑOS EXITOSOS. INICIA SU VENTA HACE 3 AÑOS EN SU ALDEA A ORILLAS DE LA CARRETERA ALQUILANDO, HOY DIA ESTA EN SU CASA Y LAS VENTAS HAN AUMENTADO. SU COMPAÑERO DE GRUPO ES CARLOS QUIEN ES DUEÑO DE UNA VIDRERIA Y SE DEDICA A LA ELABORACION E INSTALACION DE VENTANAS Y TAMBIEN OFELIA QUIEN VENDE BLUSAS DE TELA DE MANERA AMBULANTE EN SU LOCALIDAD. HAY MUCHAS METAS Y ELLOS DESEAN EL CREDITO PARA PODE AUMENTAR SU CAPITAL DE TRABAJO LO QUE LES PERMITIRA PODER SURTIR MEJOS SUS NEGOCIOS Y HACER QUE SUS INGRESOS MEJORES, ESO BENEFICIARÀ A SUS FAMILIAS.
FAPE, the Foundation for the Assistance of Small Businesses, is a nonprofit, socially-minded institution that provides loans to micro-entrepreneurs across Guatemala.
This is a Group Loan
In a group loan, each member of the group receives an individual loan but is part of a larger group of individuals. The group is there to provide support to the members and to provide a system of peer pressure, but groups may or may not be formally bound by a group guarantee. In cases where there is a group guarantee, members of the group are responsible for paying back the loans of their fellow group members in the case of delinquency or default.
Kiva's Field Partners typically feature one borrower from a group. The loan description, sector, and other attributes for a group loan profile are determined by the featured borrower's loan. The other members of the group are not required to use their loans for the same purpose.