Flores De Sumpango Group
The group's representative is Juana B. who is 35 years old. Juana has three children and works in agriculture in the same town. She has ten years of experience in cultivating green tomatoes. She is seeking a new loan to be used for the purchase of raw materials so that she could plant a larger quantity of green tomatoes and take advantage of the rainy season this month.
The three partners have completed several loan cycles with FAPE and have always been timely with repayments; they will use the new loan to purchase seeds as well as threads for weaving. All of them dream of a better future for their children.
About FAPEFAPE, 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.
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Success!! The loan was 100% repaid