Luis Francisco, 27, is a member of the “Resplandor de San Lorenzo” (San Lorenzo’s Splendor) Duo. He has three minor children and he works making tombstones for deceased people; he makes them out of marble and sells them to his customers. He’s requesting his loan to buy more materials to make more tombstones since demand is high and he can’t satisfy his customers. His goal is to be able to expand the business more and to have a locale since he’s the only one that covers household expenses and to be able to give his children a better education.
Dúo El Resplandor de San Lorenzo está formado por el señor Luis Francisco de 27 años de edad quien tiene 3 hijos menor de edad, el se dedica a la elaboración de lapidas para los que mueren y lo elabora en mármol y lo distribuye a sus clientes, el solicita su crédito para comprar más material y elaborar mas lapidas ya que él tiene una gran demanda y no puede satisfacer a sus clientes su meta es poder lograr ampliar mas su negocio y poder tener un local ya que es el único que contribuye con los gastos del hogar y poder darles una mejor educación a sus hijos.
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.