Dúo La Providencia Group
Blanca Gricelda, 33, is part of this group. She’s from the village of Montufar in San Juan Municipality. She’s been a craftswoman for several years. Very early every day they start working as weavers in her house making napkins, traditional skirts and traditional sashes from the San Juan Sacatepéquez region.
In addition, in winter Blanca grows corn and beans which are crops that require large capital investment to buy seeds and chemical and organic fertilizer. Thanks be to God, the crops have made it to harvest season but now she must pay day laborers to harvest the grain that will feed their families for a year.
She’s requesting this loan to buy raw materials to make the traditional textiles and to buy manure for the crops.
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