Dúo Monte Horeb Group
On group member, Carlos, is married with five children. He tells us he is applying for this loan for his store, to add products that he is missing. In addition, because it is Christmas, he wants to sell fruit and vegetables, water and some candies. He hopes that FAPE can support him and provide help because he needs it now. His previous loans have been a godsend for his family. With the loans he has been able to support the three of his children that are studying, which is very costly.
Este grupo lo forma don Carlos, quien es casado, tiene 5 hijos y nos cuenta que esta solicitando este nuevo crédito para su tienda, incorporando productos que le hacen falta, además por la temporada navideña quiere vender frutas y verduras, aguas, y algunas golosinas, el espera que fape pueda apoyarlo y brindarles su ayuda porque ahora él lo está necesitando, además sus créditos anteriores le han traído mucha bendición para su familia ya que con eso el sostiene a sus 3 hijos que están estudiando y es mucho gasto lo que hace con ellos.
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