Duo Solidario El Mañana Group
Doña Guadalupe also has a tortilla business. Her household includes four dependent children, three of whom are in school. She lives with her husband, who helps with the household expenses. Guadalupe started her tortilla business four years ago with the intention of helping her husband with the household expenses. Her loan will be used to buy corn in bulk so that she can get an affordable price. She will also buy chickens to raise, thereby helping her children to get ahead so that they can become professionals.
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