Flores De Las Lomas Group
They grow a variety of flowers common to this country, like roses, chrysanthemums, daisies, gerberas and gladioli, to sell. They want to continue investing in the purchase and harvesting of flowers which in this season, because of the celebration of All Saints Day, is when they are most in demand. They also need capital to take advantage of the season and to prepare for the Christmas season.
Among their dreams is to stay in business; they have already been in it for several years, having inherited it. The business allows them to help their husbands economically and they are enthusiastic about persevering and reaching their family goals.
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