Dúo Mirada En Jesus Group
Sergio Giovanni is a young man who is 28 years of age. He makes women’s blouses of different sizes and colors.
Sergio has been in this business for six years and is totally independent. He needs to buy buttons, accessories, and appliqués for making the blouses but the money he has is not enough. For this reason, he is applying for a loan so that he can buy the things he is lacking. This will prevent him from falling behind on the orders he has to deliver. He already has the rolls of fabric that he needs.
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