Dúo Luz Brillante Group
María Luisa is originally from Tecpan, Guatemala. She works weaving traditional textiles by hand. She started her business years ago and thanks to God her business has moved forward and prospered since she has her own clientele that seeks her out for her products. Her dream is to be able to expand the business more to earn higher profits and send her children to a better school for a better future. She’s had a previous loan and was punctual with it; she had no late payments. She’s requesting this loan to buy raw materials to hand weave traditional fabrics.
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