Vilma del Carmen and Cornelia are in the business of selling American clothing for men, women, and children. They like the business, but a lot of the time, business is down and they aren't able to earn much. That's why they are turning to a second activity: raising mushrooms. They are requesting this loan to invest in the production of mushrooms. This business will help them to sustain their families and households.
Las Señoras Vilma del Carmen se dedica a la venta de ropa para damas caballeros y niños, ropa Americana les gusta el negocio, pero muchas veces el negocio es bajo y obtienen muy pocas ganancias por esa razón ellas se dedican a una segunda actividad como es a la produccion de hongos solicitan este crédito para invertir en la producción de hongos ya que con su negocio ellas ayudan a su familia para el sosten de hongar.
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.