Dúo Luchando Por Nuestros Sueños Group
The leader of this group is Edilma, who has been working selling varied clothing for many years. She started selling in the street and now has a place to sell clothes in the capital city market. The Christmas dates are approaching and she needs to invest to stock more clothing in her business like blouses, pants, jackets, sweaters, and underwear for children and men, women as well.
The money that she has is not enough, therefore she needs a new loan so she will not disappoint her customers. She is applying for this loan for the purchase of clothes for selling.
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