Duo Monte Oreb Group
This duo includes Ruth Anabella, 32 years old, who is single and has worked at hand-making traditional woven items for 10 years. She is happy to be requesting a loan again to buy raw materials to produce woven items, because with the help provided to her by the previous loan she was able to increase her capital.
The second partner is also requesting a loan to buy raw materials for the production of woven items.
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