Duo Salem Group
This group is formed by Hilario, 38, who is single and has been an auto mechanic for ten years. He tells us that he needs the loan to buy paint and tools because the ones he has are deteriorated and these kinds of tools are expensive. This is why he needs capital to invest in the purchase of new tools to stay in business.
Also a member is Crescencio, 30. He is the leader of this duo. He’s married and has five children. He has sold beef and chicken for the last four years. He relates that he’s asking for the loan to be able to pay cash for the meat and not have any debts with the firm because sometimes they don’t deliver the meat as promised. Besides, he’d like to buy an additional freezer because the one he has is old. He trusts that this loan will be granted and with it he’ll be able to acquire more profits and repay the loan.
Este grupo está formado por don Hilario, de 38 años de edad es soltero, el se dedica a ser mecánico automotriz, desde hace 10 años, el nos cuenta que necesita el crédito para poder comprar pintura y herramienta ya que las que tiene ya está deterioradas y ese tipo de herramientas son caras. Es por eso que necesita capital para invertir en la comprar nueva herramientas y así poder seguir trabajando, también esta don Crescencio, de 30 años de edad es el líder de este dúo, es casado y tiene 5 hijos, el se dedica a la venta de carne de res y pollo, desde hace4 años, el cuenta que solicita el crédito para poder comprar al contado la carne y no deberle a la empresa porque a veces no traen cabal la carne, además quiere comprar otro congelador ya que el que tiene ya está viejo, el confía en que este crédito se le va a otorgar y con él puede adquirir más ganancias y cumplir con esta obligación.
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