Grupo Solidario San Isidro Group
Another one of the members grows flowers. She requires working capital to prepare for the Day of the Dead celebrated on November first, when it is tradition to have everything decorated.
The group is represented by Mrs. Mirian Leticia C.. She is married and she has 3 children. She has been making aprons for many years. Her clients know her well and it helps because her customers come to her house to purchase the goods, or to place orders.
The members of the group indicate that they are very optimistic about this loan because it will be of great benefit.
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