Dúo Bendicion De Vista Hermosa Group
Sr. Alcelmo has been selling various types of clothing for women, men, and children for four years at different markets in the capital. With summer approaching, he needs to buy various types of clothes so that he doesn’t disappoint his customers. He has several clothing orders requesting cut-off blouses, shorts, spandex, T-shirts, and flip-flops in different sizes and colors.
Ancelmo does not have enough money to buy what he needs, so he is requesting a new loan so that he can acquire what he is lacking. He continues to strive toward achieving his dream of having a shop of his own and converting it into a warehouse. Ancelmo has the unconditional support of his wife and the help of his children.
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.
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This loan has been fully funded!