Dúo Las Victorias De San Martin Group
Victoria owns two shoe shops selling shoes in general for children and adults; she also sells sandals, backpacks and cosmetics in general like creams, shampoo, cologne, etc. The end of the year is approaching and she must buy more shoes in various styles and sizes so that customers will start to see that she has new colors and quality shoes on sale.
This is why she’s asking for a Kiva loan again so that she can place her orders with suppliers and not wait to the last moment to buy merchandise. She must also start to stock up on more cosmetics to offer everything to her customers and not disappoint them. She hopes you will be able to help her with her business.
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