Dúo Genesis 2 Group
Elvia neither wants nor desires that her children should have to face the level of life she did in her youth. Rather, she wants and dreams that her children should grow and study, becoming professional people. And at the same time, she is aware that this can only be achieved with great effort and perseverance.
For that reason, she knocked on the doors at FAPE, requesting a loan for purchasing prime materials for her business, since buying in larger quantities, results in discounts. She will be very grateful if her request is seriously considered.
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