Dúo Mujeres De Vista Hermosa Group
Isabel is in charge of this group. She sells gifts and bookstore items in the main street of the area where she lives. Her daughters look after her shop and her husband helps with everything.
Mother's Day is coming up and she needs to purchase a variety of gift items for the occasion such as notebooks, plastic containers, towels, dictionaries, paper in a variety of sizes and prices, calculators and even pans to stock her store.
The money Isabel has will not be enough, so she needs a loan to purchase the items and in this manner avoid displeasing her clients.
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