The group named “Dúo el Cariño” includes Sra. Elsa Magdalena. She is 46 years old and spends her time making and selling traditional aprons and blouses. Elsa has been in this business for years. She is requesting a loan in order to buy raw materials for making her woven goods.
Dúo el Cariño, este Dúo esta integrado por la señora Elsa Magdalena, ella tiene 46 años de edad y se dedica a la elavoracion y venta de delantales tipicos y blusas, lleva años de dedicarse a esta actividad y esta solicitando este credito para la compra de materia prima para la elaboracion de tejidos tipicos.
FAPE, 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.