Duo Luchando Por La Vicion Group
Pedro Elias has made a living by sewing shirts for children and adults for many years. He says he keeps on working to get ahead with his little shop, and that his customers have also aided him by making various orders and this is how he has increased his sales.
He says the fabric he has is no longer enough, and this is why he needs to buy more. Therefore, he is asking for a new loan to buy fabric and produce his garments. His dream is to become a distribution center for the town.
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