Dúo Luchadores De San Pedro Group
This group is headed by Sra. Maria Elena. She has been selling fruit for five years at a stand at the market in her town. With summer approaching, the sale of fruit increases each day. She needs to buy more frequently so that she can keep up with demand and not disappoint her customers.
Maria Elena needs to request another loan so that she can buy more fruit. By taking advantage of the summer season, she will be able to generate good earnings.
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