Duo Noveno San Pedro Group
Doña Maria del Carmen is 22 years old and has two children. For the past three years, she has made a living by selling shoes and cosmetics. She tells us that she struggles for a better life and she relies on her husband's help. He works, but the money he earns is not enough. So, she started her business due to this necessity. Thanks to God, she received this business opportunity, which has allowed her to provide for her daughter.
She offers the product she sells in factories where many people work. She does not have enough of what she sells because the people buy a lot and she has a large demand from her customers. For this reason, she is asking for this loan to buy more merchandise of shoes and cosmetics. She hopes that Kiva can help her with the loan she is requesting, as well as the other member who makes a living by selling basic products and cosmetics.
al igual que la siguiente socia se dedica a la venta de productos basicos y cosmeticos.
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