Las Misioneras (The Missionaries) Group
Maria Isabel (1st from left) is 43, married, and has a child going to school. She has a 2nd grade education. Her business is selling tortillas close to a famous chicken restaurant, a good location. She gets up very early in the morning to make tortillas. There is no roof over her cooking area and she has to work in the rain during the rainy season. She hires a woman to help her so that she has enough tortillas to sell. With her loan she will buy corn and wood in bulk to get a better price. She will also buy 6 pieces of tin with which to make a roof and enclosure for her cooking area. This is especially important now, as it is the wettest part of the rainy season.
Maria Isabel sells approximately 32,500 handmade tortillas a month, working 234 hours. Her current profit is approximately USD 465. She plans to sell 6000 more tortillas per month when she has more corn and wood. She then expects to have a profit of USD 538. With this 16% increase in profit she will be able to keep her business growing and ensure that her child gets an education.
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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