Rosas De Santa Catalina Bobadilla Group
Santa Catalina Bobadilla is approximately 2 kms (1.5 miles) from Antigua Guatemala, Sacatepequez. There are several different businesses within this group, such as “tortillerías”, chocolate making from scratch, mid-day meals, and catalogue sales.
Gloria Eugenia is a 39 year-old single mother of 3 kids (17, 14 and 13 years old). She has a 7th grade education and married at a very young age. She does not receive any assistance from the father of her children and is therefore solely responsible to not only put food on the table, but also to pay for her children’s education and personal needs. To support her family, Gloria Eugenia sells mid-day meals to construction workers and tortillas at lunch-time. When a construction job is ending, the workers tell her where they are going to be next and that is how she has been able to keep a constant clientele.
Gloria knows that she lacks the financial capital to be able to offer sodas with her mid-day meals. She intends to use her loan to purchase sodas and corn by bulk so she can reduce her costs and increase her profit.
Her actual profit is Q2,035 (US$265) working 224 hours a month (US$1.18/hour). She has set a modest goal with her business advisor to improve her profit by 10%
More information about this loan
In addition to a micro-loan, through its Business Development Program, Fundacion Namaste Guatemaya, provides its borrowers with the business support that will help their enterprises grow.
Namaste provides financial literacy, business education, cash flow analysis, and opportunities for entrepreneurs to to share experiences and best practices. The capstone of their model are Business Advisors that provide each borrower with one-on-one mentoring.
Namaste measures it success through the increase in profits of its borrowers. Of the more than 900 Namaste borrowers who have completed the business development program, on average their profits increased by 41%. Namaste clients are averaging USD2.50 per hour vs the Guatemala minimum wage of UDS1.00.
About Fundacion Namaste GuatemayaFundacion Namaste Guatemaya (Fundacion Namaste) is a non-profit organization in Guatemala that focuses on empowering women with microloans and mentoring. Its flagship program is the Namaste Business Development Program (NBDP), which combines personalized mentorship, financial literacy and customized microloans to help women entrepreneurs formalize their business models and increase their profits.
To date, approximately 1,000 women have completed the NBDP program, and over 500 women are actively enrolled. Kiva lenders’ funds enable Fundacion Namaste to reach even more women in Guatemala, particularly in rural and idigenous communities.
Fundacion Namaste joined Kiva through our Experimental Partnership Program, and has therefore received a lighter level of due diligence. Accordingly, loans associated with this partner carry a higher level of risk than typical Kiva loans.
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